May 2012 Real Estate Sales Figures for Atherton
Luxury Real Estate along the Peninsula continued to show increases across the board for the month of May 2012 compared to May 2011. Everybody knows that prices have been on the rise partly due to the Facebook effect and the number of buyers that are out there looking. Atherton is an area not usually associated with the young, mainly single, group of buyers from Facebook as they are looking more towards Palo Alto or the urban living of the City. So, when you see sales figures for Atherton rise, it’s a good sign for overall growth of the area and jobs growing, companies making money and international buyers still coming to the area.
The average list price for May 2012 in Atherton was $6,732,000 and last year the average list price for May was $4,389,000. That’s a 53% increase from year to year. The more important number, average sales price, was $5,303,000 this May and $4,420,000 last May, an increase this year of 19%. Both years had a total of 7 sales for the month (on market sales) and this year had 23 new listings in May compared to 16 last year, an increase of 43%. The average price per square foot this year hit the 4 digit mark with an average of $1,092 while last year had an average for the month of $882 per square foot.
I’ll keep an eye on the sales, let me know if you would like me to send you automatic updates of closed sales or anything else that might be of interest to you.
