Atherton | Menlo Park | Portola Valley | Woodside
The numbers are in and the real estate market closed with impressive results in 2017!
The normally resilient Peninsula real estate market experienced sluggishness over the second half of 2016, but the 2017 market rebounded.
At a glance here is a high level comparison of Atherton, Menlo Park, Portola Valley, and Woodside. Most communities experienced a slight increase in the number of homes sold, welcome news after years of declining inventory.
Information is based on data from MLSListings.com and does not include private sales.
Number of Sales
|San Mateo County||4,183||4,342||+3.80%|
Average Days on Market
|San Mateo County||26||22|
*The Average Days on Market for Atherton and Woodside includes sales data in each community for 5 homes that were on the market for over 200 days. When these properties with excessively long days on market are excluded, the Average Days on Market is 50 days for Atherton and 51 days for Woodside.
Median Sales Price
|San Mateo County||$1,289,000||$1,425,000||+10.55%|
* In 2016 there were 20 sales in Atherton in excess of $10 million, 8 of which were new construction, representing 27.4% of the total number of homes sold. In 2017 by comparison there were 11 sales in excess of $10 million, 1 of them new construction, representing 14.1 % of total homes sold.
* *In Woodside there were 8 sales over $8 million in 2016, 11.11% of total sales, compared to 4 in 2017 representing 5.7% of total sales.
Sales Price to List Price Ratio
|San Mateo County||105.2%||108.2%|
Market Trends by Community
Atherton Year-end 2017
Menlo Park Year-end 2017
Portola Valley Year-end 2017
Woodside Year-end 2017
2018 has started with low inventory which is typical for this time of year. We are just starting to see more homes come on the market and we are looking forward to another dynamic real estate market.
Over the next few days we will be posting articles about the Santa Clara County real estate market and some of the current hot topics in residential real estate.