Updated January 2021
The median price is slightly below the prior year, well below the 2018 peak, yet slightly above 2016-17. Overall the Los Altos Hills market seems to have plateaued at the $4.0M price point since 2016. The annual increase in the median price for Los Altos Hills homes has averaged 5.4% per year since 1998 (CAGR).
Market demand for Los Altos Hills homes is consistent with recent years. The average days on market fluctuates at historically low levels. The average final sales vs list price remains at parity.
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 $2.5M. 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 $/SQFT also varies significantly compared to the average of $1,222 in 2020. 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 2020 is represented by a 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.
A greater number of homes sold for below-list in 2020. Suggests sellers setting a list price that was too high for the 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 is still at historically low levels.
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.