Carol Carnevale • DRE# 00946687 • 650.465.5958
Nicole Aron • DRE# 00952657 • 650.740.7954
We thought you would be interested in a 2011 update on the real estate market in your area.
Over the past 3 years the Atherton market has remained stable. During 2011 the number of sales reported through the Multiple Listing Service (MLS) was 73, a decline from 2010 in which 81 closed sales were reported. The average sales price has risen slightly to $3,526,944 up from $3,510,435.
Another indicator of a stable market is the inventory level. The graph below shows that the supply of available homes has hovered around 5 months’ inventory, representing a decline from 2010, therefore indicating an improved market.
The Sales Price to List Price ratio in Atherton shown on the graph below increased significantly in 2011. Buyers do not want to purchase if they fear that values may further decline. Improvement in this ratio we believe reflects improved buyer confidence in our local real estate market.
The Portola Valley market saw a dramatic rise in the number of sales from 54 in 2010 to 70 in 2011, a 29.6% increase. The rise in number of sales was accompanied by a significant increase in the average sales price to $2,255,614 up from $1,849,640, or 21.9%.
As shown in the graph below, Portola Valley’s inventory levels decreased to around a four month supply for most of 2011.
The Sales Price to List Price ratio bounced around throughout the year but remained above 92%.
In 2011 Woodside experienced remarkable growth in number of sales reported to the Multiple Listing service, 100 compared to 55 in 2010. The average sales price decreased to $2,176,392 from $2,512,570.
As shown in the graphs below, the supply of available homes remained consistently below 10 months for the year and the Sales Price to List Price ratio remained above 92% for the year.