Earlier posts have reported on year-end real estate results in Palo Alto, Menlo Park, Los Altos, and Los Altos Hills. Today’s post covers the communities of Atherton, Portola Valley and Woodside. It’s been a banner year for all these communities!
Here are some quick measures for single-family residences based on Multiple Listing Service data:
ATHERTON:
Number of Homes Sold
Per Multiple Listing data the number of homes sold decreased in 2015.
- 2015 number of homes sold: 76
- 2014 number of homes sold: 102
- 2005 number of homes sold: 100 — A decade ago
The graph below shows the number of homes sold by quarter for the past 5 years, and demonstrates that the second quarter remains the briskest in terms of number of homes sold.
Sales Price to List Price Ratio
The Sales Price to List Price ratio for the year remained above 100% for the third year in a row. The graph below shows the ratio by month for the past 5 years.
Median Sales Price
The Median Sales Price rose significantly.
- 2015 Median Sales Price: $5,950,000 (+34.15%)
- 2014 Median Sales Price: $4,420,000
- 2005 Median Sales Price: $3,032,500 — A decade ago
The graph below shows the growth since 2011.
Average Days on Market
The market continues to be very efficient. The Days on Market measure reflects the length of time between the date a home is entered into the Multiple Listing Service until the date the seller accepts a purchase contract.
There has been a steady decrease in the Average Days on Market since 2011.
PORTOLA VALLEY
Market trends in Portola Valley were similar to those in Atherton.
Number of Sales
The number of homes sold was lower in 2015 than 2014, and consistent with prior years, more homes closed escrow during the second quarter.
- 2015 number of homes sold: 62
- 2014 number of homes sold: 84
- 2005 number of homes sold: 91 — A decade ago
Sales Price to List Price Ratio
For the second consecutive year the Sales Price to List Price ratio remained above 100%. The graph below shows the ratio on a monthly basis for the past 5 years. The ratio in September 2015 was based on a single property priced at $1,795,000 that sold for $2,200,000 and should be considered an anomaly.
Median Sales Price
The Median Sales Price continued its gradual rise.
- 2015 Median Sales Price: $2,633,000 (+6.82%)
- 2014 Median Sales Price: $2,465,000
- 2005 Median Sales Price: $1,855,000 — A decade ago
The graph below shows the Median Sales Price for the past 5 years.
Average Days on Market
The Average Days on Market continued to decline.
WOODSIDE:
Real estate market trends in Woodside were also strong in 2015.
Number of Homes Sold
The number of homes sold in Woodside declined in 2015.
- 2015 number of homes sold: 92
- 2014 number of homes sold: 107
- 2005 number of homes sold: 95 — A decade ago
The graph below shows activity for the past 5 years and demonstrates that more homes close escrow during the second quarter.
Sales Price to List Price Ratio
For the first time in a decade the Sales Price to List Price Ratio in Woodside exceeded 100%, averaging 100.6%.
The graph below shows the ratio on a monthly basis for the past 5 years.
Median Sales Price
Woodside’s Median Sales Price posted a healthy increase in 2015.
- 2015 Median Sales Price: $2,755,000 (+20.1%)
- 2014 Median Sales Price: $2,295,000
- 2005 Median Sales Price: $1,825,000 — A decade ago
The graph below shows the Median Sales Price for the past 5 years.
Average Days on Market
Another positive trend for Woodside was the decline in the average number of days on market.
Want More Details?
If you would like more detailed statistical information it is available in the Local Stats page of our website. You can access statistics for the entire county or your specific neighborhood.
If you own a property in one of these communities and would like to know its market value, please contact us for an opinion of value. It would be our pleasure to be of service to you.
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