Communities | Atherton
About the Community of Atherton...
Atherton is named for Faxon Dean Atherton, a wealthy trader from Chile, who purchased 640 acres and established the first large estate in the area. The completion of the railroad in 1863 attracted other prosperous citizens of San Francisco, hoping to escape the summer fog. The Town was incorporated in 1923, and adopted stringent zoning regulations.
Atherton Highlights
| Population: | 7,188 |
| Elevation: | 59′ |
| Date incorporated: | 1923 |
| Number of homes: | 2,546 |
| Lowest sale price 2022: | $2,500,000 |
| Highest sale price 2022: | $30,250,000 |
| Average sale price 2022: | $9,463,536 |
As a result, Atherton retains the pastoral atmosphere enjoyed by those nineteenth century residents, with majority of properties in this exclusive zip code exceeding an acre. No sidewalks, an abundance of heritage oaks, and a ban on commerce, plus equal access to San Francisco and San Jose have made Atherton one of the most expensive addresses in the country. Atherton has been consistently ranked by a national magazine as one of the top five most affluent cities in the country.
2022 in Review | Atherton
The average price fell slightly compared to 2021, by 3%, yet still remained well over the $9 million mark for the second year in a row. Keep in mind that any properties sold in Atherton off-market are not part of this review. Throughout the year, the highest average price was in the first quarter at $10,605,405, then it fell to $8,824,462 in the second quarter, $8,431,294 in the third quarter, and then back up to $10,517,271 in the fourth quarter.
Median prices had an even more dramatic change by quarter, as seen in the graph. The highest median price, a new record, was in the first quarter at $10,000,000. Prices then dropped below 2021 levels reaching $7,732,500 in the second quarter, $7,000,000 in the third quarter, and then rising to $7,510,000 in the fourth quarter. Year over year, the median price was down 3% compared to 2021.
The highest end of the market was strong with 29 homes sold for $10 million or more on the MLS; this compares to 35 in 2021, 23 in 2020, and 19 in 2019. The first quarter had 9 sales in this category. This was followed by the second quarter with 8 sales, the third quarter with 7 sales, and the fourth quarter with 5 sales for $10 million or more. The highest-priced sale on the MLS was $30,250,000; the highest price on the MLS in 2021 was $32,000,000.
The number of homes sold over list price increased significantly. There were 29 homes, or 39%, that sold over list price compared to 27% in 2021 and 21% in 2020. There were 3 homes that sold at list price and 42 homes, or 57%, that sold for less than list price.
In 2022, the total number of closed escrows in Atherton (per the Multiple Listing Service) totaled 74, down 28% from the 103 sales in 2021. There were 17 homes sold in the first quarter, 26 in the second quarter, 17 in the third quarter, and 14 in the fourth quarter.
The average days on market, at 27, was significantly lower than it was in 2021 when it was 47. At 27, this is by far the lowest number of days on record dating back to 2006. Prior to this, average days on market ranged from 44 days to 108 days. In the fourth quarter, average days on market did take a leap to 55 days. Pricing was still key to how long a home was on the market. This direct correlation is seen with homes that sold for list price or more, which were on the market an average of just 6 days; homes that sold for less than list price were on the market for an average of 42 days.
Important Atherton Phone Numbers
School Websites and Phone Numbers
| Las Lomitas School District | 650•854•2880 |
| Menlo Park School District | 650•321•7140 |
| Redwood City Elementary School Dist. | 650•423•2200 |
| Sequoia Union High School District | 650•369•1411 |
Communities | Menlo Park
About the Community of Menlo Park...
Though Menlo Park has its share of luxury properties, its character remains essentially modest. Charming, custom homes on pretty lots line quiet streets. The downtown business district offers a picture of suburban life as shoppers stroll beneath the trees, stopping for a sidewalk coffee, or an ice cream cone. Originally growing up around the train station, built in 1866 and a registered historic landmark, the City of Menlo Park was incorporated in 1927.
Menlo Park Highlights
| Population: | 33,780 |
| Elevation: | 72′ |
| Date incorporated: | 1927 |
| Number of homes: | 12,347 |
| Lowest sale price 2022: | $785,000 |
| Highest sale price 2022: | $16,750,000 |
| Average sale price 2022: | $3,109,732 |
The name was taken from the sign “Menlo Park, 1854” which was painted on the gate erected by two early settlers who emigrated from Menlough in Ireland. Today, the excellent school system and the strong sense of community have made Menlo Park a highly desirable place to work and live. Menlo Park is also headquarters for much of the venture capital money fueling the Silicon Valley economy.
2022 in Review | Menlo Park
The average sale price in Menlo Park reached another record high, crossing the $3 million mark for the first time to $3,109,732. This represents a 5% increase compared to 2021 (includes both single-family homes and condos/townhomes). As the year went on, the second quarter had the highest average price at $3,244,171, then settled to the lowest all year at $2,927,393 before rebounding in the fourth quarter to $3,149,980.
In 2022, the median sale price in Menlo Park also reached a record high of $2,800,000. This represents a 9% increase over 2021. The median price was the highest in the first quarter at $2,900,000, then dropped slightly to $2,850,000 in the second quarter, further in the third quarter to $2,675,000, and then settled out at $2,740,000 in the fourth quarter.
The high end of the market was strong with 4 homes sold for more than $10 million and a record-breaking individual sale at $16,750,000. The previous record was set in 2020 at $14,750,000. There were 21 homes that sold for $6 million or more, compared to 32 the previous year. Keep in mind that any Menlo Park properties sold off-market are not part of this review.
206 homes, or 56%, sold for more than list price in Menlo Park, just about the same as it was in 2021 when it was 57%. There were 56 homes, or 15%, that sold at list price and 105 homes, or 29%, that sold for less than list price.
The number of closed escrows in Menlo Park, including single-family homes and townhomes/condos, was 367, down 38% from the record high of 594 set in 2021. This was the second-lowest number of sales on records dating back to 2006. There were 87 closed escrows in the first quarter, 122 in the second quarter, 89 in the third quarter, and then a decline to 69 sales in the fourth quarter.
Homes sold very quickly with an average days on market of 18, down 22% since 2021. The median days on market was just 9, the lowest on record dating back to 2006. Pricing was still key to how long a home was on the market. This direct correlation is seen with homes that sold for list price or more, which were on the market an average of just 11 days; homes that sold for less than list price were on the market for an average of 33 days.
Important Menlo Park Phone Numbers
| Police Non-emergency | 650•330•6300 |
| Fire Non-emergency | 650•688•8400 |
| Building Permits | 650•330•6704 |
| Caltrain | 800•660•4287 |
| City Office | 650•330•6620 |
| Library | 650•330•2500 |
| Post Office | 650•323-2701 |
| Voter Registration | 800•345•8683 |
School Websites and Phone Numbers
| Las Lomitas School District | 650•854•2880 |
| Menlo Park School District | 650•321•7140 |
| Sequoia Union High School District | 650•369•1411 |
Communities | Portola Valley
About the Community of Portola Valley...
In Portola Valley, named for the Spanish explorer Gaspar de Portola, oak-studded meadows open onto vistas of San Francisco Bay and the unspoiled Coast Range. The area’s first settlement was the logging town of Searsville, founded in the nineteenth century. Farming and cattle ranching were the primary industries until the 1920’s.
Portola Valley Highlights
| Population: | 4,456 |
| Elevation: | 455′ |
| Date incorporated: | 1964 |
| Number of homes: | 1,895 |
| Lowest sale price 2022: | $2,305,000 |
| Highest sale price 2022: | $25,000,000 |
| Average sale price 2022: | $5,341,106 |
After World War II, the valley began to be developed, typically with modest, ranch-style homes on large lots. Long a preferred address of Stanford University professors, Portola Valley has made well-staffed, well-equipped public schools a top priority. The town was incorporated in 1964, with the goal of maintaining the rural ambience of the community, and preserving open space. Today, Portola Valley is known for its unpretentious lifestyle and small-town atmosphere.
2022 in Review | Portola Valley
The average sale price in Portola Valley reached another record high, crossing the $5 million mark for the first time to $5,341,106. This represents a 32% increase compared to 2021. As the year went on, the average price fell each quarter before rebounding slightly in the fourth quarter. In the first quarter it was $7,773,111 (because of a $25 million sale), in the second quarter it was $6,018,619, then it fell to its lowest at $3,608,923 in the third quarter, and finally settled at $4,491,266 in the fourth quarter.
The median sale price followed suit with a record high of $4,200,000 representing a 20% increase over 2021. The median price was the highest in the first quarter at $5,600,000, then dropped to $4,500,000 in the second quarter, further in the third quarter to $3,350,000, and then bounced back up to $4,050,444 in the fourth quarter.
The highest end of the market was strong with 3 homes sold for $10 million to $25 million on the MLS. Each was sold in the first half of the year. There were 14 homes sold for $7 million or more and all but 3 of those were sold in the first half of the year.
The number of closed escrows in Portola Valley declined 46% to 59 sales in 2022, following a record high of 110 sales in 2021. There were 9 sales in the first quarter, 21 sales in the second quarter, 13 sales in the third quarter, and 16 sales in the fourth quarter. Keep in mind that any Portola Valley properties sold off-market are not part of this review.
25 Portola Valley homes, or 42%, sold for more than list price, less than the 49% in 2021. 7 homes sold for list price and 27 homes, or 46%, sold for less than list price.
The average days on market, at 26, was the lowest on record dating back to 2006. Pricing was still key to how long a home was on the market. This direct correlation is seen with homes that sold for list price or more, which were on the market an average of 17 days; homes that sold for less than list price were on the market for an average of 36 days.
Important Portola Valley Phone Numbers
| Police Non-emergency | 650•363•4911 |
| Fire Non-emergency | 650•851•1594 |
| Building/Planning | 650•851•1700 |
| Caltrain | 800•660•4287 |
| City Office | 650•851•1700 |
| Library | 650•851•0560 |
| Post Office | 650•851•2560 |
| Voter Registration | 800•345•8683 |
School Websites and Phone Numbers
| Portola Valley School District | 650•851•1777 |
| Sequoia Union High School District | 650•369•1411 |
Communities | Woodside
About the Community of Woodside...
Woodside, as the name might suggest, began as a logging town centered around the Woodside Store. Beginning in the 1830’s, the local sawmills supplied the first growth redwood lumber used to build much of old San Francisco. As early as 1852, a regular stagecoach ran between San Francisco and Woodside, which by that time had developed into a community of farms, cattle ranches and vineyards.
Woodside Highlights
| Population: | 5,309 |
| Elevation: | 379′ |
| Date incorporated: | 1956 |
| Number of homes: | 2,157 |
| Lowest sale price 2022: | $1,110,000 |
| Highest sale price 2022: | $32,204,075 |
| Average sale price 2022: | $5,941,255 |
The forested seclusion of the area attracted well-to-do San Franciscans, who began constructing often-elaborate county estates, some of which still exist. Woodside was incorporated in 1956 with the purpose of limiting development and preserving the bucolic character of the Town. Today, most of the parcels in central Woodside are a minimum of three acres. Horses are a common sight, and there are several equestrian facilities, as well as miles of trails.
2022 in Review | Woodside
Woodside prices once again reached record highs in 2022. The number of sales though, at 71, was down a significant 45% compared to 2021, which was by far a record-breaking year. There were 14 sales in the first quarter, 23 in the second quarter, 19 in the third quarter, and 15 in the fourth quarter. Keep in mind that any Woodside properties sold off-market are not part of this review.
The highest end of the market saw 8 homes sold for more than $10 million on the MLS. All but 3 of these sales were in the second half. The highest-priced sale on the MLS was $32,204,075; the highest price on the MLS in 2021 was $35,000,000.
The average sale price in Woodside reached another record high, crossing the $5 million mark for the first time to $5,941,255. This represents a 21% increase compared to 2021. Prices by quarter varied dramatically. In the first quarter the average was $3,801,286, in the second quarter it was $7,123,612 (as 5 of the 8 sales over $10 million occurred in this quarter), then it fell to $6,352,368 in the third quarter and settled at $5,604,867 in the fourth quarter.
The median price also reached a record high, increasing 30% to $4,875,000 and far exceeding the record of $3,750,000 set in 2021. The median price was the lowest in the first quarter at $3,205,000 and the highest in the last quarter at $5,400,000.
29 homes, or 41%, sold for more than list price compared to 37% in 2021. Another 8 homes sold for list price and 34 homes, or 48%, sold for less than list price.
Homes sold quickly with the lowest average days on market on record dating back to 2006. The average days of 40 compares to 49 in 2021, which was the previous record low. The median days on market was just 13, also the lowest on record. Pricing was still key to how long a home was on the market. This direct correlation is seen with homes that sold for list price or more, which were on the market an average of just 14 days; homes that sold for less than list price were on the market for an average of 69 days.
Important Woodside Phone Numbers
| Police Non-emergency | 650•364•1811 |
| Fire Non-emergency | 650•851•1594 |
| Building/Planning | 650•851•6790 |
| Caltrain | 800•660•4287 |
| City Office | 650•851•6790 |
| Library | 650•851•0147 |
| Post Office | 650•368•4163 |
| Voter Registration | 800•345•8683 |
School Websites and Phone Numbers
| Woodside School District | 650•851•1571 |
| Las Lomitas School District | 650•854•2880 |
| Redwood City Elementary School | 650•482•2200 |
| Sequoia Union High School District | 650•369•1411 |
