If the first quarter of this year is any indication, spring 2024 is shaping up to be a good time to sell a home in the Los Altos area. The median cost for a single-family home in Los Altos during the past three months was $4,203,225. As of March 25, a total of 35 homes had sold in the new year for an average of 107% of their list price and were under contract in an average of 12 days. We are seeing regular instances of multiple offers in our area, which is an indication of a strong seller’s market.
Any time you take a look at the real estate market that is this local you are impacted by the sellers in that community who were selling during a given time – we generally see very low inventories in Los Altos, Mountain View and Los Altos Hills as these highly sought-after locations are valued greatly by those who live here, meaning the laws of supply and demand tip toward low supply/high demand. The snapshot I just gave you is based on a total of 27 homes closing in January, February and the first three weeks of March.
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