Los Altos Single Family Home Sales Continue to be Strong as Inventory Remains Tight

Contrary to most of the Bay Area, The Los Altos real estate market continues to be quite active.  Currently there are 37 homes for sale ranging from a low of $1,249,000. to a high of $7,650,000.  19 homes are currently under contract.  

As one can see in the graphs below,  the number of sales in Los Altos over the last 2 years has been fairly constant averaging approximately 30 homes per month.  The biggest change is in the number of available homes for sale.  In 2006, Los Altos’ average single family home inventory was at approximately 67 homes.  In 2007, that number dropped by about 1/3 to an average of only 45 homes per month.  Consistent buyer demand combined with lower inventory levels has led to many multiple offer situations (especially in the lower price points) and a market that continues to favor sellers who have properly priced and marketed their homes.