September 2024 Real Estate Market Report Update for Premier Peninsula

Welcome to the Premier Peninsula Real Estate Market Report for September! Over the past year, the Premier Peninsula has experienced notable changes in housing inventory and pricing, providing key insights for potential buyers and sellers in this prestigious region.

Year in Review: Property Sales by Area

Across Atherton, Menlo Park, Palo Alto, Los Altos, Los Altos Hills, Woodside, and Portola Valley, a total of 1,167 properties were sold over the last twelve months. This data reflects both stability and growth in one of the most coveted real estate markets.

Let’s break it down further by area to better understand how these numbers affect the local market!

Market Snapshot by City:

• Atherton:

  • Total Sold Properties: 79

  • Median Sale Price: $7,500,000

  • Median Price per Square Foot: $1,976

  • Trend Insight: Atherton continues to command some of the highest property values in the area. A detailed look at price trends over the last five years is available in the area-specific section of the full report for buyers and sellers interested in long-term price shifts.

• Menlo Park:

  • Median Price: $3,300,000

  • Median Price per Square Foot: $1,548

  • Trend Insight: Menlo Park remains highly competitive with a strong price-per-square-foot average, signaling consistent demand and growth.

• Palo Alto:

  • Median Sale Price: $3,568,000

  • Median Price per Square Foot: $1,901

  • Trend Insight: Palo Alto’s high price per square foot illustrates its enduring appeal!

• Los Altos:

  • Total Sold Properties: 242

  • Median Price: $4,350,000

  • Median Price per Square Foot: $1,823

  • Trend Insight: With a high volume of transactions, Los Altos offers a dynamic market with attractive pricing and a desirable suburban environment.

• Los Altos Hills:

  • Total Sold Properties: 66

  • Median Sale Price: $5,685,000

  • Median Price per Square Foot: $1,611

  • Trend Insight: Los Altos Hills sees strong property values, maintaining its position as a premium choice for high-end buyers.

• Woodside:

  • Total Sold Properties: 67

  • Median Sale Price: $3,998,000

  • Median Price per Square Foot: $1,229

  • Trend Insight: Woodside offers a relatively lower price per square foot, appealing to many buyers.

• Portola Valley:

  • Median Sale Price: $3,887,500

  • Median Price per Square Foot: $1,445

  • Trend Insight: Portola Valley's blend of rural charm and luxury living continues to attract buyers.

What Does This Mean For You?

The market fluctuations and pricing metrics shared here underscore the importance of understanding local dynamics, especially in an area like the Premier Peninsula, where even small shifts can impact investment potential.

As an expert in the luxury real estate market, I’m here to help you interpret these trends and make well-informed decisions. Reach out to discuss the latest market movements and what they mean for your real estate goals in the Premier Peninsula!

For personalized insights and assistance in navigating this dynamic market, feel free to reach out to me at (650) 862-6750 or via email at [email protected]. I value your feedback and welcome any questions or comments you may have. Please don't hesitate to reach out for assistance!

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