Los Altos Home Values & Market Update
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Updated April 23, 2018

Market Snapshot – Los Altos (Recent Sales here)

Los Altos continues to mirror the overall market trend in the Bay Area, with rising sale prices and extremely limited and declining inventory. It marked the sixth straight year for higher sales prices.

The current Bay Area real estate market hinges on an extremely low supply of homes. This low inventory, combined with strong demand among home buyers, is largely responsible for the continued appreciation across most price points and markets. According to Trulia’s Chief Economist Ralph McLaughlin, this isn’t a bubble as we’ve seen in previous up cycles, but the result of basic economic forces of (lack of) supply and (strong) demand. Multiple forces are keeping home inventory low. There aren’t enough new homes being built to meet increasing demand. Additionally, current California property tax code provides a strong financial incentive for long-term homeowners to stay in their existing homes. McLaughlin also notes that the new congressional tax plan with its lower cap on the mortgage interest deduction may act to further limit supply. Under the new law, the cap on the mortgage interest deduction is reduced from $1 million to $750,000. Existing homeowners are grandfathered in at the $1 million level, giving them even more incentive to stay put.

Finally, the Fed raised interest rates in March, which will likely impact mortgage rates. Higher mortgage rates reduce buying power. Between reduced buying power and increasing prices, time is not on the side of buyers right now. Those who are ‘waiting it out’ may be waiting a long time.

Here are the numbers for March 2018. If you are curious about your Los Altos home value, you can receive a free online estimate, or request a custom evaluation which we are happy to give to you, free, without the hard sales pitch.

 

Mar-18 % Change Year Over Year Rolling 3 Month Average
Median Sales Price ($USD) $3,550,000 15.2%
Overbids (%) 110.70% 6.2%
New Listings (#) 36 -9.28%
Homes Sold (#) 29 -1.69%
Months of Inventory 0.3 -30.77%
Median Days on Market (DOM) 10 -14.29%
Average Days on Market (DOM) 11 -60.00%

 

Median Sales Price – Los Altos SFR

 

Ratio of List Price to Sold Price (Overbids) – Los Altos SFR

 

Number of New Listings vs Sold Listings, Los Altos SFR

 

Months of Inventory – Los Altos SFR

 

Median and Average Days on Market (DOM) – Los Altos SFR

 

Los Altos Single Family Home Closed Sales since 1/1/2018

Street Address Close Date Price/SqFt Sale Price RATIO Close Price By List Price DOM Beds Total Bths Sq Ft Total Lot Size
345 Alicia Way 3/29/18 1,970.09 $4,216,000 1.205 10 3 2|0 2,140 16,659 Lot SqFt
81 Arbuelo Way 2/8/18 1,655.05 $3,325,000 1.19 0 4 2|0 2,009 10,916 Lot SqFt
861 Arroyo Road 3/28/18 1,823.32 $3,550,000 1.184 8 4 3|0 1,947 14,699 Lot SqFt
49 S Avalon Drive 3/9/18 1,942.92 $3,812,000 1.272 8 3 2|0 1,962 10,749 Lot SqFt
1625 Belvoir Drive 3/27/18 1,384.10 $2,053,999 1.03 11 3 2|0 1,484 6,752 Lot SqFt
1035 Border Road 4/9/18 1,264.81 $3,310,000 1.104 10 4 3|0 2,617 18,245 Lot SqFt
1207 Carmel Terrace 3/1/18 1,169.19 $3,400,000 0.972 14 5 3|0 2,908 12,481 Lot SqFt
1484 Cedar Place 2/14/18 1,394.70 $3,000,000 1.156 14 4 3|0 2,151 13,244 Lot SqFt
225 N Clark Avenue 4/2/18 1,627.09 $3,700,000 1.234 9 3 2|1 2,274 12,255 Lot SqFt
1486 Country Club Drive 1/14/18 1,752.98 $3,825,000 1.093 7 3 2|0 2,182 24,677 Lot SqFt
1551 Country Club Drive 3/30/18 1,488.92 $3,225,000 1.153 8 4 4|0 2,166 10,053 Lot SqFt
1569 Country Club Drive 3/27/18 966.04 $3,300,000 1.002 15 5 3|0 3,416 10,881 Lot SqFt
1270 Covington Road 3/27/18 1,428.57 $3,100,000 1.216 11 4 2|1 2,170 12,481 Lot SqFt
758 Covington Road 4/11/18 1,636.75 $3,100,000 1.127 8 3 2|1 1,894 11,652 Lot SqFt
952 Covington Road 2/27/18 1,557.47 $2,900,000 1.162 3 4 2|1 1,862 10,215 Lot SqFt
726 Del Centro Way 3/13/18 1,726.37 $4,000,000 1.336 8 4 3|0 2,317 15,206 Lot SqFt
145 El Monte Court 3/20/18 1,617.46 $3,002,000 1.092 10 3 2|0 1,856 9,000 Lot SqFt
239 N El Monte Avenue 2/26/18 1,600.28 $2,250,000 0.904 15 3 2|0 1,406 10,680 Lot SqFt
2037 Farndon Avenue 1/19/18 2,329.92 $2,500,000 1.197 6 3 1|0 1,073 9,375 Lot SqFt
1210 Fremont Avenue 2/6/18 1,349.36 $2,750,000 0.982 34 4 2|1 2,038 22,000 Lot SqFt
1264 Golden Way 1/30/18 1,456.64 $4,300,000 1.229 0 4 3|1 2,952 10,230 Lot SqFt
1832 Granger Avenue 1/16/18 1,108.25 $3,225,000 1.197 10 4 3|0 2,910 11,430 Lot SqFt
549 Harrington Avenue 3/16/18 3,544.55 $3,580,000 1.328 9 2 1|0 1,010 13,517 Lot SqFt
428 Hawthorne Avenue 3/21/18 1,091.26 $3,910,000 1.016 9 5 4|1 3,583 14,392 Lot SqFt
858 Hierra Court 3/27/18 1,266.20 $4,300,000 1.076 9 5 3|1 3,396 16,700 Lot SqFt
897 Highlands Circle 1/18/18 1,516.15 $2,300,000 1 0 3 2|0 1,517 12,825 Lot SqFt
266 Hillview Avenue 2/28/18 1,693.20 $3,510,000 1.351 7 2 2|0 2,073 11,223 Lot SqFt
600 Jay Street 3/30/18 1,621.62 $6,000,000 1.091 2 4 3|1 3,700 16,754 Lot SqFt
1731 Juarez Avenue 3/21/18 1,375.40 $3,400,000 1.26 10 4 3|0 2,472 10,629 Lot SqFt
1666 Kensington Avenue 2/15/18 1,107.21 $5,050,000 1.148 7 5 3|1 4,561 20,321 Lot SqFt
2029 Kent Drive 2/26/18 1,168.08 $3,308,000 1.273 5 4 4|1 2,832 13,047 Lot SqFt
494 La Prenda Road 4/17/18 2,382.91 $3,012,000 1.005 13 3 1|0 1,264 11,419 Lot SqFt
1561 Landell Court 3/28/18 1,659.32 $3,010,000 1.205 9 4 2|0 1,814 11,763 Lot SqFt
245 Live Oak Lane 3/17/18 1,524.13 $3,600,000 1.009 12 4 3|0 2,362 15,662 Lot SqFt
156 Loucks Avenue 4/9/18 1,604.03 $3,500,000 1.167 8 4 3|0 2,182 9,375 Lot SqFt
901 Loyola Drive 2/2/18 1,035.05 $4,725,000 1.028 16 5 5|0 4,565 9,242 Lot SqFt
961 Lundy Lane 3/2/18 2,232.28 $2,960,000 0.925 15 2 1|0 1,326 20,111 Lot SqFt
181 Lyell Street 2/1/18 2,301.18 $2,720,000 1.239 7 2 1|0 1,182 7,637 Lot SqFt
890 Madonna Way 3/5/18 1,183.53 $3,650,000 1.028 7 3 2|1 3,084 9,047 Lot SqFt
924 Manor Way 4/9/18 1,669.43 $3,020,000 1 0 3 2|1 1,809 11,643 Lot SqFt
257 Merritt Road 4/13/18 1,576.76 $3,800,000 1.268 8 4 3|1 2,410 12,351 Lot SqFt
1432 Miramonte Avenue 1/3/18 1,504.33 $2,950,000 1.181 6 4 2|0 1,961 11,193 Lot SqFt
1400 Montclaire Place 2/14/18 1,095.65 $3,700,000 1.234 10 6 4|1 3,377 11,616 Lot SqFt
1245 Monte Verde Court 4/16/18 1,405.08 $3,760,000 1.254 7 4 3|0 2,676 13,000 Lot SqFt
811 Mora Drive Drive 2/28/18 1,246.36 $3,000,000 1 0 4 2|0 2,407 12,215 Lot SqFt
620 Morningside Circle 3/23/18 1,208.24 $3,400,000 0.973 21 3 3|1 2,814 5,100 Lot SqFt
1647 Morton Avenue 4/2/18 1,523.26 $3,045,000 1.171 6 3 2|1 1,999 10,082 Lot SqFt
1028 Mundell Court 4/10/18 2,285.95 $2,750,000 1.378 11 3 2|0 1,203 6,627 Lot SqFt
595 Orange Avenue 4/10/18 1,896.26 $3,400,000 1.135 8 3 2|0 1,793 6,589 Lot SqFt
631 Orange Avenue 4/6/18 1,696.49 $2,560,000 1.067 9 3 2|0 1,509 5,774 Lot SqFt
1626 Parkhills Avenue 4/3/18 1,362.01 $3,040,000 1.031 0 4 4|0 2,232 9,442 Lot SqFt
852 Parma Way 2/2/18 1,722.44 $3,500,000 1.062 8 3 2|0 2,032 17,052 Lot SqFt
894 Parma Way 2/22/18 1,448.89 $4,125,001 1.252 11 4 3|0 2,847 13,019 Lot SqFt
123 W Portola Avenue 4/6/18 2,114.80 $2,800,000 1.274 6 3 2|0 1,324 6,383 Lot SqFt
1275 RICHARDSON Avenue 2/23/18 1,296.60 $4,000,000 1.177 1 4 3|1 3,085 20,453 Lot SqFt
1525 Richardson Avenue 2/28/18 1,891.79 $2,661,750 1.163 7 3 2|0 1,407 9,286 Lot SqFt
25 Rockpoint Lane 3/15/18 1,360.17 $2,500,000 1.009 8 4 2|0 1,838 13,325 Lot SqFt
605 Rosita Avenue 3/8/18 1,140.47 $7,088,000 1.013 14 5 6|1 6,215 15,612 Lot SqFt
672 Rosita Avenue 3/28/18 1,281.07 $4,020,000 1.149 10 4 2|1 3,138 12,827 Lot SqFt
683 Rosita Avenue 4/4/18 1,782.91 $3,630,000 1.252 6 3 1|1 2,036 15,347 Lot SqFt
991 Saint Joseph Court 2/5/18 1,057.14 $3,700,000 1.028 19 5 5|0 3,500 18,000 Lot SqFt
370 San Domingo Way 3/7/18 1,626.85 $3,950,000 1.199 11 3 2|1 2,428 10,364 Lot SqFt
120 Sioux Lane 2/2/18 1,176.47 $5,600,000 1.02 11 5 4|2 4,760 11,271 Lot SqFt
842 Starlite Lane 3/28/18 1,630.08 $3,234,075 1.08 8 3 2|0 1,984 12,769 Lot SqFt
24225 Summerhill Avenue 2/16/18 1,194.97 $3,610,000 1.096 8 4 3|0 3,021 20,022 Lot SqFt
826 Terrace Drive 4/17/18 1,077.38 $3,300,000 0.971 6 3 3|1 3,063 16,258 Lot SqFt
1264 Thurston Avenue 1/5/18 1,614.09 $2,405,000 1.146 7 3 2|0 1,490 10,113 Lot SqFt
570 University Terrace 1/17/18 1,190.48 $6,000,000 1 0 5 4|0 5,040 32,359 Lot SqFt
645 University Avenue 3/21/18 1,985.75 $3,205,000 1.072 8 3 2|0 1,614 6,217 Lot SqFt
275 Verano 3/2/18 1,470.96 $4,660,000 1.201 10 4 3|0 3,168 14,385 Lot SqFt
2204 Vineyard Court 2/14/18 1,248.63 $3,425,000 1.183 9 5 3|0 2,743 13,703 Lot SqFt
1715 Westbrook Avenue 3/30/18 1,001.47 $3,400,000 1 0 5 3|0 3,395 7,886 Lot SqFt
1695 Whitham Avenue 3/29/18 1,017.48 $4,250,000 1 36 4 5|1 4,177 20,699 Lot SqFt
1275 Windimer Drive 2/9/18 1,265.82 $4,700,000 1.179 8 5 4|1 3,713 17,255 Lot SqFt
250 Yerba Santa Avenue 4/10/18 2,163.08 $3,820,000 1.274 9 3 2|0 1,766 11,489 Lot SqFt