July 2023
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 5% decline during the first half of 2023, but is the same as 2021. Keep in mind that the number of sales is small. 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 increased in 2023 but remains at historically low levels. The average final sales vs list returned to at-list values.
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 is consistent with 2021-22 levels, except for the one-quarter spike in 2022.
Monthly median prices for Los Altos Hills homes is fairly consistent with 2021-22. Keep in mind that these numbers typically reflect final sales values from homes that sold in the prior month.
The average days on market 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 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.