Los Altos Homes

July 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 remain consistent with 2021-23 values. The average annual price appreciation for Los Altos homes has averaged 6.8% per year (CAGR) over the past 25 years..

Market demand remains strong with homes selling quickly. Final sales prices have declined to slightly over list, reflecting fewer competing offers.

The supply of new listings (blue line) has decreased dramatically, as has the number of closed sales. This reflects sellers deciding to delay putting their homes on the market while interest rates are high.

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 returned to 2021 levels after a spike in 4Q21 to 2Q22.

This monthly median prices for Los Altos homes is bouncing back. Keep in mind that the median price reflects sales from the prior month due to a one-month lag in escrow closings.

The average days on market is slightly lower compared to prior years.

The average sales price over/under list price percentage declined significantly starting in mid-2022. The reflects a decline in the number of competing offers.

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 significantly lower in 2023. Reflects sellers staying on the sidelines during a period of high interest rates.

The inventory of Active Listings has declined. This is due to the significant decline in the supply of new listings combined with strong market demand.

The number of closed sales has dropped along with the decline in new listings..

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.