Updated July 2019
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.
This chart shows the distribution of final sales prices for single family residences in Los Altos Hills. Home values are higher than other cities due to homes having 1+ acres of land.
The annual median price for Los Altos Hills continued to increase slightly during the first half of 2019 homes after a 25% jump in 2018. The annual increase in the median price for Los Altos Hills homes has averaged 6.5% per year since 1998 (CAGR).
Market demand for Los Altos Hills homes remains at historically strong levels. The average Days on Market did increase significantly during the first half of 2019, however this is based on relatively small number of sales. The average sales vs. list price remains at near equal.
The annual supply of new listings for Los Altos Hills homes declined by 15% (53 vs. 63) during the first half of 2019 compared to the same period last year. While the number of Closed Sales declined by nearly 40% (23 vs. 39).
The percent difference between the final sales price and the list price varies significantly from the annual average of 1% under list for the first half of 2019 and 1% over for 2018. Listings that sell within the first week of two of going on market typically sell for over list.
The $/SQFT also varies significantly compared to the average of $1,257 in 2018. 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 2018 is represented by a single dot.
The quarterly average median price above provides a little more insight to a 20-year historical perspective. Note the large spike during the Internet Bubble in 2000 and the lack of a dramatic decline during the Great Recession.
This monthly view of median prices for Los Altos Hills homes provides more detail over the past 5 years. Keep in mind that the fluctuation may be due to a change in the mix of homes selling in a particular month, not necessarily changes in home values.
The monthly average days on market varies more widely than other cities due to the relatively 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.
The Inventory of Active listings is still at historically low levels.
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.
Interestingly the monthly number of Closed Sales appears to be relatively consistent. Note that a Close Sale is counted when the escrow closes, which is typically the month after the home was sold (in-contract).
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.