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Certainly some of you have watched your portfolios bounce around in the past few weeks. It seems that the year could bring quite a lot of volatility in the equities market. However, the real estate metrics we're looking at show we'll likely have another up-and-to-the-right first half of the year. Based on the number of Active/Coming Soon listings available at the current rate of sales, San Mateo County has 18 days of inventory and Santa Clara has 14 days.
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Market Mixed Messages? |
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Interest rates are going up, which could slow down some of the buyer activity under $3m. Currently rates are up 34% from the lowest point last year. However our luxury market seems less sensitive to those interest rate changes. |
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Luxury Home Sales |
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There's no wonder it's one of America's highest priced zip codes - Atherton has 40% of its sales over $10m. Hillsborough and Menlo Park continue to be attractive options for buyers in the $5-7m range. Palo Alto Real Estate and Los Altos have tremendous volume in the $4-5m range, which is no surprise as the median price creeps up closer to $4m. |
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What Can I Buy? |
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Over the last 90 days, HERE's what $4m would buy you on the peninsula. |
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Median Price Map |
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Want to see more? Click to View |
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Client Success Story |
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208 Bentley Square, Mountain View |
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Our client invested in an extensive remodel during their ownership that completely reimagined the interiors with custom cabinetry, beautiful wood floors, and a private, landscaped backyard.
To get the home completely dialed-in, we advised them to install multiple skylights and to create a more usable garage with new paint and an epoxy floor coating. These improvements tapped into the potential of the home to give the greatest possible market appeal.
We saw a fantastic response from prospective buyers resulting in 14 offers and a sales price that greatly exceeded our clients expectations. |
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