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Stanford Circle Real Estate


February 2021 Report 


The markets of Palo Alto, Los Altos, Los Altos Hills, Atherton, Woodside, Portola Valley & Menlo Park 


Our January report focused mostly on 2020’s annual statistics. This report will put most of its attention on quarterly and monthly indicators, which better illustrate changes occurring as 2020 progressed and 2021 began. 


2021 began with an enormous 97% year-over-year increase in the number of listings going into contract. 



The table below reflects market statistics and values for Q4 2020 only, which will often be different than those for the full year 2020. Median sales values can fluctuate for a number of reasons, and are especially prone to do so in markets with low sales volumes and very high prices.


It is not unusual for more expensive markets to have softer supply and demand statistics – such as higher average days on market figures, and lower percentages of listings accepting offers within the period – though this is not always the case. 



The next chart compares the year-over-year changes in sales for homes selling for over and under $3 million. Sales in the higher price segments saw significant increases, while sales under $3 million saw a small decline. The big jump in high-price home sales was a common dynamic around most of the Bay Area. 



The number of new listings coming on market in January 2021 was up 23% from January 2020. 



The number of listings accepting offers (going into contract) in January 2021 was up 97% over the number in January 2020. That's a very strong start for the market in the new year. 



Below is the first table of a full-year 2020 home value analysis of markets around the Bay Area, ranked by median sales price, highest to lowest. Every city in the Stanford Circle was in the top panel. Atherton ranked first. The full report and home price map are here: Bay Area 2020 Home Prices.



Luxury home sales by city and price segment: 



Three quarterly market indicators: 



Two of the factors behind the housing market recovery were the dramatic drop in interest rates, and the significant rebound in the stock market – especially in the stock prices of some of our local high-tech giants. 

 

© Compass 2021 ¦ All Rights Reserved by Compass ¦ Made in NYC

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.

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