The Circle of Very Expensive Home Markets Surrounding Stanford University
Palo Alto, Menlo Park, Atherton, Woodside, Portola Valley, Los Altos & Los Altos Hills
By combining these markets – some of which are relatively small – the statistics reflect a greater body of data, which usually makes the indicators more reliable. However, though these are all very affluent markets, note that median sales prices still vary between these communities, sometimes by millions of dollars. Median sales prices are generalities best used to illustrate broad market trends.
Market indicators are often seasonal in nature, with Q2 typically being the period of highest demand, and the mid-winter holiday period being the period of lowest activity.
Since the coronavirus didn’t really start impacting most markets until early-mid March, and because of the lag time between an offer being accepted on a listing and it closing escrow, the effect of the crisis on Q1 2020 statistics was limited.
It is impossible to know how median and average value statistics apply to any particular home without a specific comparative market analysis. Many factors affect sales prices besides neighborhood/ bedroom count: quality of location within the neighborhood, condition, size,architecture,views, amenities,parking,outdoor space, etc.
These analyses were made in good faith with data from sources deemed reliable, but may contain errors and are subject to revision. It is not our intent to convince you of a particular position,but to attempt to provide straightforward data and analysis, so you can make your own informed decisions. Median and average statistics are enormous generalities: There are hundreds of different markets in San Francisco and the Bay Area, each with its own unique dynamics. Median prices and average dollar per square foot values can be and often are affected by other factors besides changes in fair market value. Longer term trends are much more meaningful than short-term.
Compass is a real estate broker licensed by the State of California, DRE 01527235. Equal Housing Opportunity. This report has been prepared solely for information purposes. The information herein is based on or derived from information generally available to the public and/or from sources believed to be reliable. No representation or warranty can be given with respect to the accuracy or completeness of the information. Compass disclaims any and all liability relating to this report, including without limitation any express or implied representations or warranties for statements contained in, and omissions from, the report. Nothing contained herein is intended to be or should be read as any regulatory, legal, tax, accounting or other advice and Compass does not provide such advice. All opinions are subject to change without notice. Compass makes no representation regarding the accuracy of any statements regarding any references to the laws, statutes or regulations of any state are those of the author(s). Past performance is no guarantee of future results.