It’s been another strong year for real estate IN Atherton, Portola Valley and Woodside, although there have been some signs of a shift in market conditions as detailed below. Overall the market remains healthy, but not as robust as the past two years. Sellers continue to benefit by continued low inventory, and successful buyers have often needed to be flexible and aggressive in order to prevail in multiple offer situations.
Here are some quick measures for single-family residences based on Multiple Listing Service (MLS) data. Some homes sell “quietly”, i.e. without the benefit and exposure of the MLS. While the below numbers may not fully reflect market activity, the vast majority of homes are sold via the MLS, and the data below provides perspective on overall market trends.
Atherton
Number of Homes Sold
In 2016 70 sold homes were reported to the Multiple Listing Service (MLS). 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.
- 2016: 70 homes sold
- 2015: 76 homes sold
- 2006: 100 homes sold (Ten years ago)
Sales Price to List Price Ratio
The Sales Price to List Price Ratio for 2016 by month is shown on the graph below. During the first 9 months of 2016 the ratio steadily declined, however it began to rise again in October, and for the year it averaged 97.7% down from 101.3% in 2015 and 102.1% in 2014, the highest ratio achieved in the last ten years.
Median Sales Price
The Median Sales Price continued to climb in 2016.
- 2016 Median Sales Price: $6,002,500
- 2015 Median Sales Price: $5,950,000
- 2006 Median Sales Price: $3,381,500 (Ten years ago)
The graph below shows data since 2012.
Average Days on Market
The Days on Market 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. The Average Days on Market increased from 49 in 2015 to 73 in 2016.
Portola Valley
The 2016 real estate market trends for Portola Valley mirrored those of 2015.
Number of Homes Sold
The number of homes sold in Portola Valley has remained fairly constant.
- 2016: 63 homes sold
- 2015: 62 homes sold
- 2006: 59 homes sold (Ten years ago)
The graph below shows sales by quarter and demonstrates consistently more homes sold during the second quarter.
Sales Price to List Price Ratio
The monthly Sales Price to List Price ratios are recorded on the graph below. The ratio averaged 100.4% for 2016 somewhat lower than the ratios of 103.3% in 2015 and 105.2% in 2014.
Median Sales Price
The Median Sales Price continued to increase, reaching $2,700,000 for the year.
- 2016 Median Sales Price: $2,700,000
- 2015 Median Sales Price: $2,633,000
- 2006 Median Sales Price: $1,805,000 (Ten years ago)
Average Days on Market
Another measure of the health of the local market is the Average Days on Market which rose slightly to 33 days in 2016, up from 30 in 2015.
Woodside
Number of Homes Sold
The number of homes sold in Woodside dropped to 72 in 2016, the lowest number since 2010 when 52 sales were reported.
- 2016: 72 homes sold
- 2015: 92 homes sold
- 2006: 56 homes sold (Ten years ago)
The number of homes sold by quarter for the past 5 years is shown in the graph below. Typically more homes are sold during the second quarter, however this past year the number of sales has remained fairly constant for the last 3 quarters.
Sales Price to List Price Ratio
The Sales Price to List Price Ratio for 2016 by month is shown on the graph below. For the year it averaged 97% below the 2015 average of 100.6% in 2015, the highest ratio of the past ten years.
Median Sales Price
The 2016 Median Sales Price declined slightly.
- 2016 Median Sales Price: $2,717,500
- 2015 Median Sales Price: $2,755,000
- 2006 Median Sales Price: $1,897,500 (Ten years ago)
The graph below shows data since 2012.
Average Days on Market
The Days on Market 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. The Average Days on Market increased from 53 in 2015 to 73 in 2016.
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.
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