December 2022
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 shows a strong 7.5% increase during the first nine months of 2022. The annual increase in the median price for Los Altos Hills homes has averaged 6.3% per year since 1998 (CAGR).
Market demand for Los Altos Hills remains strong. The average days on market returned to historically low levels. The average final sales vs list price saw an uptick to near record high.
The annual supply of new listings and sales for Los Altos Hills homes returned to 2008-17 levels after a dip in 2018-19.
Los Altos Hills homes start at $3.0M. This reflects the much larger 1+ acre lots.
The $/SQFT varies significantly. The scatter chart above provides some 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 in 2021 is represented by a dot.
The quarterly median price returned to 2020 levels in July-September. Note the large spike during the Internet Bubble in 2000 and the lack of a dramatic decline during the Great Recession.
Monthly median prices for Los Altos Hills homes declined significantly in July-Sept. Keep in mind that these numbers typically reflect final sales values from homes that sold in the prior month.
The monthly average days remains at historic lows.
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 significantly above list price for listings that sell within the first couple of weeks on market.
The monthly supply of new listings for homes in Los Altos Hills. Note the seasonality with December typically being the low-point during the year.
The Inventory of Active listings really dropped this summer.
Interestingly the monthly number of Sales appears to be relatively consistent.
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.