Los Altos home sales were down in December. According to MLS Listings, Inc. data, for the month of December 2008, 10 single family homes closed escrow in Los Altos. This is a significant decline over previous year’s sales totals.
Below is a chart detailing December closed sales of single family homes in Los Altos for the last 10 years. Notice that new listings have been roughly the same, but sales totals, except for 2000, have dropped off significantly the last two years.
With a significant (year over year) decline in the number of sales (in December), one might think that prices would also be softer. This isn’t necessarily the case. Below is a chart detailing the average sales price and median sale price of property sold in December for the last 10 years.
For those of you who are stat junkies, I have also included a chart detailing a ten year history of the list price to sales price ratio for the month of December.
Tomorrow, I will post quarterly listing and sales stats.