The average price increased 20%, to almost $12 million far surpassing the $9 million range for the past 4 years. Keep in mind that any properties sold in Atherton off-MLS are not part of this review. Throughout the year, the highest average price was in the fourth quarter at $13,314,087; in the first quarter the average price was $11,047,453, then in the second quarter the average was $12,486,361, and then it fell in the third quarter to $8,983,706

Median prices followed suit by quarter, as seen in the graph. The highest median price was in the fourth quarter at $10,700,000 followed by the second quarter, which was $10,280,000. Prices started in the first quarter with a median of $8,200,000, and then fell to $7,520,000 in the third quarter. Year-over-year, the median price was up 25% compared to 2024.

The highest end of the market was strong with 37 homes sold for $10 million or more on the MLS; this compares to 31 homes in 2024 and 2023, 29 in 2022, and 35 in 2021. The highest priced sale on the MLS was $45,500,000. Both the second and fourth quarters had 13 sales in this category. This was followed by the first quarter with 7 sales and the third quarter with 4 sales for $10 million or more.

The number of homes sold over list price increased significantly. There were 32 homes, or 41%, that sold over list price compared to 28% in 2024, 13% in 2023, and 41%, in 2022. There were also 9 homes that sold at list price and 37 homes that sold for less than list price.

In 2024, the total number of closed escrows in Atherton (per the Multiple Listing Service) totaled 78, down 7% from the 86 sales in 2024. There were 15 homes sold in the first quarter, 23 in the second quarter, 17 in the third quarter, and 23 in the fourth quarter

The average days on market, at 34, was far less than it was in 2024 when it was 55. In 2022, the average days on market was just 27 days, which was a record low. 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 14 days; homes that sold for less than list price were on the market for an average of 56 days.