Carol Carnevale • DRE# 00946687 • 650.465.5958
Nicole Aron • DRE# 00952657 • 650.740.7954
Over the past days we have been updating you on the real estate market performance on the major communities where we work. The communities below include some of the priciest homes on the Peninsula and you will observe a difference in the market rhythms. Still impressive by any standard!
Buyers are attracted to the Peninsula for a variety of reasons…the rich diversity of communities, the entrepreneurial spirit, the quality of life and the wonderful weather!
The numbers are based on Multiple Listing Service (MLS) data, here are some of the key market indicators for single family residential sales:
The Median Sales Price averaged $6,312,500 through June 2015, up from $4,435,000 in 2014, representing an increase of 42%. Year-to-date 38 sales have been reported to the Multiple Listing Service, compared to 53 sales during the first half of 2014.
Other favorable market trends include the YTD Average Days on Market which is 59, up slightly from the 2014 average of 57. The YTD Sales Price to List Price Ratio averaged 100.75 down from the 2014 average of 102.1. Though a decrease, this is considered a strong result.
Similarly, the trends in Portola Valley remain strong.
The Median Sales Price averaged $2,625,000 through June 2015, up from $2,465,000 in 2014, representing an increase of 6%.
The YTD Average Days on Market decreased significantly to 20, down from the 2014 average of 44. The YTD Sales Price to List Price Ratio decreased slightly to 104.4% compared to the 2014 average of 105.2%.
Woodside’s YTD Average Median Sale Price was $2,250,000 down slightly from the 2014 average of $2,272,000.
The number of sales YTD was 51, compared to 52 for the same period in 2014. The 2015 YTD Average Days on Market increased to 82 up from the 2014 average of 70. Improvement was shown in the 2015 average Sales Price to List Price Ratio of 99.4%, up from the 2014 average of 98.5%. While still considered strong, it is lower than the average Sales Price to List Price ratio of 103% for the first 6 months of 2014.
This is the last of our community reports. We work in other Peninsula communities as well, and we can provide information on these, or you can access it yourself through the Statistics section of our website.
….but nothing replaces the knowledge of a local Realtor! Whether you are buying or selling a home having an advocate and a guide is invaluable. We’d love to be on your team. You can read some of our success stories here, or read our reviews on YELP where clients tell about their experience in working with us.