Q1 2016 Market Update – Los Altos and Los Altos Hills
Early 2016 was slower than usual for the Los Altos and Los Altos Hills real estate market, even more so than is typical for the start of each year. Continued low inventory, high (but stable) prices and stock market volatility have made many potential high-end buyers nervous. However, the inventory picked up a little in March, especially for Los Altos Hills, so buyers are coming back in the game for the summer. So, overall, not much has changed compared to last year, after all.
Median Sales Price – March 2016
Los Altos Hills $3,780,000
Los Altos: $2, 625,000
MEDIAN DAYS ON MARKET – MARCH 2016
Los Altos Hills: 68 days
Los Altos: 32 days
MONTHS SUPPLY OF INVENTORY (CLOSED) – MARCH 2016
Los Altos Hills: 5.4
Los Altos: 1.2
MEDIAN PRICE PER SQUARE FOOT – MARCH 2016
Los Altos Hills: $1,038
Los Altos: $1,207