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LOS ALTOS SINGLE-FAMILY HOMES

RECAP OF 1ST QUARTER 2022
• Prices soared in the 1st quarter
• Average price up 10% just since last year
• Average price over $4.6 million
• Median price $4.4+ million; up 7%
• 83% sold over list price

PRICES
Once again, prices reached amazing record highs in the 1st quarter! Both the average and median exceeded $4.4 million for the first time and the average price in North Los Altos and Country Club exceeded $5 million. For the first time, none of the individual areas had an average OR median price of less than $4 million.

2 new record high prices were reached at $10 million and $11.5 million. There were 10 sales for $5 million or more. 35 of the 42 sales, or 83%, were for more than list price and by as much as 50% more. Last year, 77% of homes sold over list price.

The price per square foot in the 1st quarter was $1,983 – a dramatic 20% increase from just last year when it was $1,604.

NUMBER OF SALES
There were only 42 sales of single-family homes reported through the Multiple Listing Service in the 1st quarter. This compares to 53 sales in the same quarter last year and was the lowest quarterly number since 2009 just after the recession. The precipitous decline in sales was directly related to the few number of homes available for sale and definitely not because of low demand.

In addition to the 42 single-family home sales, there were 11 condo/townhome sales. If you would like further details on condo/townhome sales this year, which are not included in this report, I would be happy to provide them to you.

LENGTH OF TIME TO SELL
With demand like we saw in the 1st quarter, it’s no surprise that homes sold very quickly. Only 4 homes took longer than 12 days to sell. Half of the homes sold in 7 days or less.

Rollover or click map to see more information for each area.

Rollover or click map to see more information for each area.

2022 Q1 REPORT - SINGLE-FAMILY HOMES