Michele's Real Estate Market Report
Los Altos, CA
Single-Family Homes
Michele Harkov | 650-773-1332 | www.micheleharkov.com
Los Altos, CA
Sun May 19 2024
This week the median list price for Los Altos, CA is $4,995,000 with the market action index hovering around 72. This is less than last month's market action index of 74. Inventory has increased to 23.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
Real-Time Market Profile
| Median List Price | $4,995,000 | |
| Median Price of New Listings | $4,795,000 | |
| Per Square Foot | $1,629 | |
| Average Days on Market | 69 | |
| Median Days on Market | 14 | |
| Price Decreased | 13% | |
| Price Increased | 4% | |
| Relisted | 4% | |
| Inventory | 23 | |
| Median Rent | ||
| Market Action | 72 | |
| Strong Seller's Market | ||
This week prices bumped up a bit but the trend of recent weeks is generally downward. A pickup in demand will be reflected in the Market Action Index, so watch that chart to try to identify a change in the market.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $8,399,888 | 5,438 | 0.25 - 0.5 acre | 5 | 6 | 20 | 1 | 1 | 21 |
| $5,475,000 | 3,862 | 0.25 - 0.5 acre | 5 | 4.5 | 41 | 2 | 1 | 21 |
| $4,596,500 | 3,025 | 8,000 - 10,000 sqft | 4 | 3.5 | 58 | 3 | 3 | 3 |
| $3,739,000 | 2,043 | 8,000 - 10,000 sqft | 4 | 2.5 | 61 | 2 | 2 | 14 |