Communities | Atherton

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 2021: $2,175,000
Highest sale price 2021: $32,000,000
Average sale price 2021: $9,723,768

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.

2021 in Review | Atherton

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The average price reached a dramatic new high crossing over the $9 million mark for the first time. At $9,723,768, this represents a 24% increase compared to 2020, the first year of the pandemic, in which we saw a decline of 10%. Keep in mind that any properties sold in Atherton off-market are not part of this review.

Quarterly prices steadily increased in 2021 as shown in the quarterly average chart. The first quarter was the lowest at $7,525,947, then increasing to $8,300,000 in the second quarter, $8,650,000 in the third quarter, and the highest level in the fourth quarter at $10,542,939. This was just slightly below the record high quarterly price reached in the second quarter of 2019 at $10,606,955.

The highest end of the market was particularly strong with 35 homes sold for more than $10 million on the MLS, compared to 23 in 2020 and 19 in 2019. The highest priced sale on the MLS was $32,000,000; the highest price on the MLS in 2020 was $35,200,000. The fourth quarter had 13 sales for more than $10 million. This follows the third quarter with 8 sales over $10 million, the second quarter with 11, and the first quarter with just 3. There was also one sale at $10 million in the fourth quarter.

The median price of an Atherton home in 2021 increased 28% to $7,969,000 – yet another dramatic record high. This compared to a median price of $6,350,000 in 2020, $6,000,000 in 2019, and $6,650,000 in 2018, the previous record high.

Fewer homes sold over list price than in years past but there were still 28, or 27%. This compares to 21% in 2020. There were 13 homes, or 12.6%, that sold at list price and 62 homes, or 60%, that sold for less than list price.

In 2021, the total number of closed escrows in Atherton (per the Multiple Listing Service) totaled 103, the highest number since 2013. There were 19 homes sold in the first quarter, 33 in the second quarter, 20 in the third quarter, and 31 in the fourth quarter.

The average days on market, at 47, was higher than it was in 2020 when it was 44, but that was a year in which not all days were accounted for in the early part of the pandemic. At an average of 47 days, and excluding 2020, this was the lowest number of days per records dating back to 2005. 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 10 days; homes that sold for less than list price were on the market for an average of 72 days.

Important Atherton Phone Numbers
Police Non-emergency 650•688•6500
Fire Non-emergency 650•688•8400
Building/Planning 650•752•0560
Caltrain 800•660•4287
City Office 650•752•0504
Library 650•328•2422
Post Office 650•752•0500
Voter Registration 650•312•5222
 
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

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 2021: $618,000
Highest sale price 2021: $13,850,000
Average sale price 2021: $2,970,264

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.

2021 in Review | Menlo Park

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The average sale price in Menlo Park reached another record high of $2,970,264 in 2021. This represents a 10% increase compared to $2,701,594 in 2020 (and includes both single-family homes and condos/townhomes). The average price for a single-family home reached a record high of $3,275,421, the first time ever crossing over $3 million. The high end of the market was strong with 4 homes sold for $10 million or more. The highest priced sale was $13,850,000, which does not reach the record set in 2020 of $14,750,000. There were 32 homes that sold for $6 million or more, compared to just 9 the previous year. Menlo Park average prices have increased 153% since the recession low in 2009 when it was $1,173,879. Keep in mind that any Menlo Park properties sold off-market are not part of this review.

As shown in the quarterly average chart, the fourth quarter of 2021 saw the highest average price at $3,245,162, the highest quarterly record by far.

In 2021, the median sale price in Menlo Park also reached a record high of $2,575,000. This represents a 7% increase and a 161% increase since 2009 when it fell below $1 million.

338 homes, or 57%, sold for more than list price in Menlo Park, far higher than in 2020 when it was only 40%. In 2019, 46% sold for more than list price and in 2018, 65%, sold for more than list price. Another 69 homes, or 12%, sold at list price.

The number of closed escrows in Menlo Park, including single-family homes and townhomes/condos was 594, the highest number on records dating back to 2005. This compares to 350 sales in 2020 when it was the lowest number on those records. There were 107 closed escrows in the first quarter, 189 in the second quarter, 150 in the third quarter, and a strong finish of 148 sales in the fourth quarter.

Homes sold quickly with an average days on market of 23, about the same as in 2020. The median days on market was just 10, the lowest on records dating back to 2005. 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 13 days; homes that sold for less than list price were on the market for an average of 43 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

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 2021: $800,000
Highest sale price 2021: $16,000,000
Average sale price 2021: $4,038,135

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.

2021 in Review | Portola Valley

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The number of closed escrows in Portola Valley increased dramatically to 110 sales in 2021, following a record high of 92 sales in 2020. There were 18 sales in the first quarter, 33 sales in the second quarter, 32 sales in the third quarter, and 27 sales in the fourth quarter. Keep in mind that any Portola Valley properties sold offmarket are not part of this review.

Although sales were strong, prices fell slightly. The average price was $4,038,135, a 3% decline from the record high of $4,150,339 reached in 2020. The average was still only the second time it exceeded $4 million and it was 118% higher than it was in the recession low of 2010 when the average price was $1,847,374. Contributing to the high average price were 2 homes that sold for $14+ million and $16 million, a home sold by Hugh Cornish & Associates. There was only one sale for less than $1.5 million.

The median price in 2021 did reach a record high, increasing just $5,000 to $3,505,000. The 2021 median price was 112% higher than what the median price was when it was $1,650,000 in 2009.

There was a steady increase every quarter in average price. The fourth quarter saw the highest average price by far when it reached a record of $4,888,179. Our sale at $16 million occurred at the end of the fourth quarter contributing to the increase.

54 Portola Valley homes, or 49%, sold for more than list price, far more than 23% in 2020 and 2019. 7 homes sold for list price and 49 homes sold for less than list price.

The average days on market, at 29, was the lowest in records dating back to 2005. This compared to 43 in 2020, a year in which not all days were accounted for in the early part of the pandemic. Average days on market in 9 of the past 16 years have been for more than 50 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 13 days; homes that sold for less than list price were on the market for an average of 50 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

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 2021: $600,000
Highest sale price 2021: $35,000,000
Average sale price 2021: $4,927,163

 

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.

2021 in Review | Woodside

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Woodside’s number of sales and prices once again reached record highs in 2021. The number of sales, at 130, was up a dramatic 65% compared to 2020, and the highest by far on records dating back to 2005. Sales started out slowly and then took off with 24 sales in the first quarter, 41 in the second quarter, 33 in the third quarter, and 32 in the fourth quarter. Keep in mind that any Woodside properties sold off-market are not part of this review.

The median price in 2021 reached a record high, increasing a significant 32% to $3,750,000 and far exceeding the record of $3,262,500 set in 2018. The 2021 median price was 141% higher than what the median price was just 12 years ago when it was $1,555,000 in 2009.

The high end of the market was particularly strong with 11 homes sold for more than $10 million. The two highest-priced sales, at $35 million and $28.2 million, were record sales in Woodside, per the Multiple Listing Service. There were 36 homes that sold for $6 million or more, compared to 17 the previous year.

Although sales were strong and median price was up, average price fell ever so slightly. The average price was $4,927,263, less than 1% lower than the record high of $4,938,185 reached in 2020.

48 homes, or 37%, sold for more than list price compared to 16% in 2020 and 18% in 2019. Another 18 homes, or 14%, sold for list price and 64 homes, or 49%, sold for less than list price.

Homes sold quickly with the lowest average days on market in records dating back to 2005. The average days of 49 was 34% faster than 74 days in 2020. The median days on market was just 17, also the lowest on records. 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 12.5 days; homes that sold for less than list price were on the market for an average of 87 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