Los Altos CA Real Estate For Sale
losaltoscarealestateforsale.com
While some pricier Silicon Valley locales see slightly slower increases in house prices compared to the county average, the Los Altos’ housing market has closely mirrored it over the past dozen years.
Los Altos house price vs. Santa Clara County house price:
Refer to the Los Altos Hills graph below to compare the town and the county. It shows a narrower gap after 2020.
Los Altos Hills house price vs. Santa Clara County house price:
Explore more about Los Altos real estate.
The Los Altos Hills average size of houses sold reached an all-time quarterly high on Aug 18, 2023.
However, the average size of Los Altos homes sold was at the lower side of recent trends.
What makes this catch our attention is that the average house size for eight San Mateo County cities (Foster City, Menlo Park, Millbrae, Pacifica, Portola Valley, San Carlos, San Mateo, and Woodside) and for Palo Alto spiked upward to their highest-ever quarterly values. The trend was so broad that the San Mateo County average size of houses sold also reached an all-time high.
Although no reason is known for the spike in the average size of houses sold in San Mateo County, it appears that Los Altos and Los Altos Hills are probably not similarly affected. Learn more about Los Altos real estate.
Looking at the new homes built in Silicon Valley by the five largest builders in 2020 shows: 316 townhouses built, 230 condos built, and 148 single family houses built.
Townhouse construction surpasses both single family and condo construction. With local cities having height restrictions, townhouses can be built to the same density as condos. If smaller homes were wanted, condo construction might surpass townhouses, but most home buyers want 3+ bedrooms.
With so few new homes being built, Silicon Valley real estate market trends are likely to continue showing homes prices climbing faster than incomes.