According to MLS Listings Inc. data there currently are 95 single family homes for sale in Los Altos. 55 homes are active listings, the remaining 37 homes are under contract. Only 8 homes priced above 2 million are under contract. The most expensive property under contract has a list price of just slightly above four million, but it has been sale pending for over 4 months. In my experience, the longer the escrow the higher the probability that the deal will blow up.
40 single family homes closed escrow in Los Altos in the month of July. Note: According to our MLS, 36 homes sold is the 13 year average of single family homes sold in Los Altos in the month of July.
Lastly, at least 15 properties had multiple offers and sold at or above their asking price. Properties priced around 1.3 million and between 1.6 million and 1.8 million received the most buyer activity.
Click Los Altos Real Estate Market Update – July 2010 for a detailed 24-month history of home sales activity in Los Altos. Click on Los Altos Real Estate Summary for details (address, sales price, size etc.) on the 19 properties that closed escrow in September in Los Altos. Note: all data was taken from our local MLS and is deemed accurate but not guaranteed.
Should you have any questions about the value of you home in today’s market, please contact me directly at 650 917-4250 for a confidential conversation.