According to MLS Listings Inc. data there currently are only eighteen single family homes for sale in Los Altos. Four homes are active listings and the remaining fourteen homes are under contract.
December Home Sales Activity For Los Altos – Inventory remains low.
18 single family homes (SFH) closed escrow in Los Altos in the month of December. Since 2010, the average number of SFH sales in December has been 24.
Fourteen properties had multiple offers and sold at or above their asking price. Approximately 80% of all properties priced under $2,500,000. had multiple offers.
Below is a Market Update for single family homes sold in Los Altos – 2 year history
Are you curious to know what that house down the street actually sold for? See below for details (address, sales price, size etc.) on the eighteen properties that closed escrow in December in Los Altos. Note: all data was taken from our local MLS and is deemed accurate but not guaranteed.
While buyer demand has remained strong, the number of single family homes listed for sale in Los Altos continues to decline.
When one combines strong demand with a reduction in supply, the result is higher sales prices. Los Altos home prices are at an all time high. The median sales price in 2014 for single family homes sold in Los Altos is $2,360,000. The graph below shows the last 5+ years of median sales prices in Los Altos. You’ll note that the median sales prices in Los Altos have steadily increased since 2010. This coincides with an inventory drop over the same period.
Given our strong seller’s market, seller’s may be thinking that a blind monkey with access to the MLS could sell their home. While hiring a blind monkey with access to our MLS may sell your home, it won’t maximise your home’s value in this market. While I hope I haven’t offended any blind monkey real estate practitioners, it is extremely important to hire an experienced agent who will maximise a seller’s proceeds. Here are Three Activities That Your Real Estate Agent Must do to Maximise Your Home’s Value in Our Seller’s Market.