homes sold: Annual Los Altos real estate market report for 2011 - 01/09/12 05:27 PM
The price of real estate is going up in many Silicon Valley and SF Bay Area markets, but one of the strongest markets is still Los Altos.  A popular destination with large lots, a rural feel, and top performing schools, this town as a whole both one of the most expensive markest but also one of the hardest to get into.  Buyers shopping in the Spring of 2011 were faced with multiple-offer situations, homes selling well over asking price, and a limited selection of inventory in all but the most expensive price ranges.  There were sales of single-family homes under $1 … (1 comments)

homes sold: Mountain View real estate market report for January 2012 - 01/05/12 10:08 PM
Home buyers stayed busy in December snapping up 32 homes and making the average sales price $969,480.  The number of homes sold was an astounding 32 with only 13 new homes added to the inventory.  As with all the other nearby towns, inventory is very low and many homes are snapped up as soon as they hit the market.
The number of days to sell has been rising but that's because the older inventory has been selling off.  The best neighborhoods are still seeing homes sold in the first week or two on the market.  The hardest places to find a … (6 comments)

homes sold: Los Altos Hills real estate market report - January 2012 - 01/05/12 09:56 PM
Home sales in Los Altos Hills stayed strong in December, with the average selling price at $2,559,375, up about $300,000 from November.  The median remained about the same as last month.  This is typical of the market since there are so few sales from month-to-month.  The key was seeing another increase in the average selling price, which reflects the trend for the entire year - prices in Los Altos Hills have recovered nicely and continue to do so.  This time last year sales started showing signs of life.  This year the market is showing it can remain strong.
There were 9 … (0 comments)

homes sold: Los Altos real estate market report - January 2012 - 01/05/12 07:41 PM
Well, Los Altos has once again proven that it is one of the hottest markets in the area.  Without a doubt, the performance in December was impressive and nearly one of the best months of the year.  The average and median selling prices were $1,911,078 and $1,800,000 respectively.  Those are substantial increases over most of 2011 and on par with last month.  One reason for the spike is that the inventory levels have been going much lower and there were a couple of large sales, including one over $3 million.
Inventory levels are a huge issue this time of year.  There … (5 comments)

homes sold: Mountain View real estate market report for December 2011 - 12/13/11 09:54 AM
The Mountain View real estate market is facing a typical seasonal downturn in terms of pricing, with the average selling price at $907,110 which is down from just over $1 million last month.  What's interesting is that the number of homes sold was 22 which is a substantial rise compared to October.  This strange combination of figures is because several older, less expensive homes have been selling in sections of the town that don't normally do well.  The top markets such as Cuesta Park and Waverly Park have little inventory and this can't counter all the low-end sales.
Another factor shifting … (0 comments)

homes sold: Los Altos Hills real estate market report - December 2011 - 12/13/11 09:32 AM
Last month was a fairly "normal" market for Los Altos Hills.  The average sales price was $2,279,000 which is on par with September and fairly reasonable compared to most months, perhaps a bit on the low side.  Sales of homes in the Hills slow down a lot at this time of year so with 6 homes sold, at least buyers are still showing signs of interest.  If that number had been at 3-4, I would say we're in trouble.  As it is, inventory levels are dropping...a lot.
There were only 3 new listings last month and 17 expired.  Combined with 6 … (0 comments)

homes sold: Los Altos real estate market report - December 2011 - 12/13/11 09:13 AM
Talk about ending the year on a high note, the average sales price in Los Altos in November was $1,921,827 which is up from $1,775,630 last month.  The median is down compared to last month but that's being caused by several low-end sales.  We saw the same issue last month but more so in November and we'll see it again in December.  A few sellers have been dumping smaller homes at really low prices which skews the average and median numbers quite a bit.  Even with those in the mix, the market is showing a lot of strength.
This time of … (1 comments)

homes sold: Mountain View real estate market report for November 2011 - 11/14/11 04:29 PM
The town that is the home of Google and other major tech firms has continued to perform well in October 2011.  Single-family home prices rose 3.1% last month to an average selling price of $1,007,688.  The $985,000, up from $935,000 last month.  There was sharp drop in homes sold, only 17 sold last month compared to 25 the month before.  The number of new listings was 31 compared to 35 the previous month.  This shows a small bit of accumulation of inventory.  The "months of inventory" went from 2.2 in September to 4.2 in October which means a strong shift to … (1 comments)

homes sold: Los Altos Hills real estate market report - November 2011 - 11/14/11 03:02 PM
The high-end real estate market of Los Altos Hills continues to show sustained strength, even going into Q4.  In Q4 2010, the market started to turn around and showed substantial improvement after years of falling prices.  In October 2011, the average and median selling prices were $2,934,000 and $1,950,000, respectively.  That's a 13.7% increase over last month (for the ASP) but a decline on the median.  Part of what impacts these figures is the fact that only a few homes sell.  There were 5 homes sold last month and the same number the previous month.  Overall this year, 86 homes have … (0 comments)

homes sold: Los Altos real estate market report - November 2011 - 11/14/11 02:44 PM
The local real estate market has continued to do well going into the end of the year.  While August was weak, which made Q3 a bit slower, the overall trend in Q4 is to stay strong.  The average and median selling prices were $1,775,630 and $1,740,000, respectively.  That's a 1.1% increase from September 2011.  Sales volume continued to do well in October with 30 homes sold compared to 27 last month.  While that figure is less than October 2010, there are also considerably fewer homes on the market.
Inventory is a continued issue, with far too few homes in affordable price … (0 comments)

 
Bryan Robertson, Broker, Author, Speaker (Catarra Real Estate, Inc) Ambassador large

Bryan Robertson

Broker, Author, Speaker

Los Altos, CA

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Read about news, reviews, and commentary about current events and trends in the real estate industry. I also write about local markets including Silicon Valley and my hometowns - Los Altos and Saratoga.


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