December 2024
Los Altos homes are one of the most desirable in Silicon Valley. A quiet family-oriented community with top-rated elementary through high schools throughout the city. A great central location with relatively short commutes to high-tech companies. A very cute downtown village and close proximity to the new San Antonio shopping center, downtown Mountain View and downtown Palo Alto. Click on the following link to view more information on the community and its schools.
Los Altos home values rose 6% during 2024. The average annual price appreciation for Los Altos homes has averaged 7.1% per year (CAGR) over the past 25 years.
Market demand remains strong with homes selling quickly and final sales prices well over list.
The supply of new listings (blue line) has returned to near 2014-2018 levels. .
Los Altos homes start at $3M with most “move-in” ready homes in the $4M price range.
The above scatter chart provides a good view into both the distribution of home sizes and the $/SQFT..
The quarterly median price provides insight into the annual averages.
Keep in mind that the median price reflects sales from the prior month due to a one-month lag in escrow closings.
The spikes tend to be seasonal end-of-year sales.
These monthly numbers reflect Closed sales that sold in the previous month.
Homes selling during the first two weeks on market typically sell for over list, while homes on the market longer typically sell for under list. Important to make the home as attractive as possible and price to sell quickly.
The supply of New listings is very seasonal with Nov-Jan being the slowest months.
The inventory of Active Listings is fairly consistent with prior years.
The number of closed sales is seasonal.
Source: 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.