January 2024
Los Altos Hills homes are one of the few places in Silicon Valley with 1+ acre lots and lots of horse and hiking trails. Close to downtown Los Altos and great schools.
The median price for Los Altos Hills homes declined 6% decline during 2023, but is the same as 2021. The annual increase in the median price for Los Altos Hills homes has averaged 6.5% per year (CAGR) over the past 25 years and have nearly doubled over the past 10 years.
Market demand for Los Altos Hills remains strong. The average days on market returned to historically low levels. The average final sales vs list is slightly under list.
The annual supply of new listings is at its lowest level in 20 years. The number of closed sales is also at an all-time low.
Los Altos Hills homes start at $3.0M. This reflects large 1+ acre lots.
The scatter chart above provides insight into how the $/SQFT varies by the size of the home and the sizes of the homes in Los Altos Hills. Each closed sale is represented by a dot.
The quarterly median price has been relatively flat over the past two years.
Monthly median prices for Los Altos Hills homes is fairly consistent with 2021-22. Keep in mind that there are a small number of sales per month and these numbers typically reflect final sales values from homes that sold in the prior month.
The average days on market is volatile due to the small number of sales per month.
The monthly average sales price over/under list price percentage varies more widely than other cities due to the smaller number of sales.
Final sales prices are typically over list price for listings that sell within the first couple of weeks on market.
The monthly supply of new listings for Los Altos Hills homes has declined significantly.
The Inventory of Active listings has also decline significantly from prior years.
The monthly number of Sales is also lower.
Sources: The data above is obtained directly from MLSlistings, the multiple listing service (MLS) serving Santa Clara and San Mateo counties. The information is deemed to be accurate, however is not guaranteed.