Inventory is at a record low. At the end of 2013 the listing inventory consisted of 6 active listings in Palo Alto, 16 in Menlo Park, 25 in Atherton, 10 in Portola Valley, 19 in Woodside and 8 in Los Altos. The low inventory signals a strong market for 2014.
There were 396 single-family home sales in Palo Alto in 2013 (compared to 472 in 2012) and 336 sales in Menlo Park (compared to 391 in 2012).
Price per square foot by area in Atherton
Price per square foot by area in Portola Valley
In Los Altos there were 321 sales in 2013 (compared to 364 in 2012). The median sale price increased 15% in Los Altos ($2,100,000 in 2013 compared to $1,826,000 in 2012). The sale to list price ratio in Los Altos was 106.9 % and the average days on the market were 22 days.
Following are charts showing price per square foot by areas: