Atherton Home Prices on the Rebound

Signs of Recovery

On a year to year comparison, the average listing price and selling price of luxury real estate in Atherton were both up in listing and sales prices.  The average selling price was $2,689,000 while the average Atherton home for sale had a listing price of just over $5.5 million dollars.

Knowing that Atherton real estate has about a 93% list to selling price ratio, I’m sure there will be further increases in sold prices for the month of January as well as listing prices.  We are seeing lots of buyers out there looking for luxury real estate in Atherton and many with cash in hand so the loan process won’t impact the sale.  Our office is having more high end sales in Atherton so far in January than it has in the last couple of years for the same time period, so despite the economy, luxury real estate in Atherton is still on the highly sought after list of places to live.

According to DataQuick, the figures were as follows:

1 month			1 Year			15 Months
	Nov 09	Dec 09	% Change	Dec 08	Dec 09	% Change	Oct 08	Dec 09	% Change
Avg. Active Price	5123	5551	8.4%	5434	5551	2.2%	5394	5551	2.9%
Avg. Sold Price	2284	2698	18.1%	1925	2698	40.2%	2337	2698	15.4 %