Luxury Estate in Los Altos Hills Sells for $100 Million Dollars

Luxury Real estate sales in Atherton just took a back seat to the high dollar sale that happened in Los Altos Hills at 13310 La Paloma Rd. The estate went for a rumored $100 million dollars and is a 25,000 square foot mansion with everything imaginable included, and is almost a twin of the above pictured estate for sale in Southern California. The property sits on over ten acres and has lots of privacy, which is necessary for the Russian billionaire who bought it and is looking to make a big impact in the Silicon Valley digital/tech world.

Luxury real estate in Menlo Park, Atherton and Palo Alto will probably get a bump as more money will probably flow into the area from other Russian comrades who want to join in on the Silicon Valley real estate surge. 145 Josselyn Lane in Woodside recently sold for just over 15 million dollars and there have been several 10 million dollar sales in Atherton as well, so the luxury real estate market is definitely heating up and money is flowing into the local real estate scene.

I have off market listings in the 5-10 million dollar range and many sellers are calling me to sell their property off market to prevent the signs and publicity that goes with listing your home for sale. I specialize in this area and please don’t hesitate to contact me if you are looking to buy or sell a luxury property without all the for sale signs, looky loos or neighbors trampling thru your home. This applies to any priced home from 1 million up to 100 million as your privacy is your privacy.

Atherton Market Update

Again this week we see a downward notch for Atherton luxury real estate prices. Pricing has been weak in recent weeks and versus their absolute-high levels. Market Action Index is a good leading indicator for the durability of this trend. Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer’s market to a Seller’s market. Demand measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market.

The median list price for a home in ATHERTON this week is $4,669,000.

Median List Price: $ 4,669,000

Asking Price Per Square Foot:  $968

Average Days on Market: 156

Median House Size: 6502 SF

Median Number of Bedrooms: 4.5

Menlo Park Real Estate Market Update

The median list price home in Menlo Park this week is $1,098,500.

Inventory has been lightening lately and the Market Action Index
has been trending up. Though days-on-market is increasing, these
are mildly positive indications for the market.

Supply and Demand

Home sales have been exceeding new inventory for several weeks.
While still a Buyer’s market, prices seem to have responded by
moving upward. If the demand trends continue, expect prices to
keep marching upward, especially once we see a Seller’s Market.

Market Action Index: 19 (strong buyer)
Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.

Real-Time Market Profile Trend
Median List Price $ 1,098,500
Median Lot Size  6500 SF
Average Days on Market (DOM) 97
4,501Median House Size (sq ft) 1690
Median Number of Bedrooms: 3
Asking Price Per Square Foot $636

Despite this week’s down tic, price trends have generally been
moving up lately. Prices are below the market’s high point, and
so watch the Market Action Index as an indicator of how long this
trend will last.