To get clients the inside track on their deals, our agents constantly swap intelligence on the Peninsula real estate market, especially at our weekly all-hands meeting. I recap their collective intel and share it with you. Remember, this is banter, not a perfect representation. It reflects many individuals’ different opinions and thoughts.
Last Week’s Real Estate Market Action
Atherton
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notable sales: three sales last week, including a $5M contract for land value.
- notable new listings:
- contemporary home on Stockbridge. Aggressively priced. Sold for $4.6M about four years ago. List: $5.298M
- coming soon: Prime West Atherton. 2660 sq ft, 19,200 sq ft lot. Original two-story home. Perfect for remodel. Sunny lot. $3,495,000. Listing agent: Mary Jo McCarthy.
Menlo Park
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summary: Market is moving. More houses are popping on. Prediction: The Willows is the next neighborhood that will break $2M.
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notable sales: Claire set a new high. New construction, nice house, smaller lot.
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new listings: 11 new listings, including one in The Willows.
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coming soon: McKendry in The Willows. 3 BA, 3 BR. 1090 sq ft. Nice lot. Turnkey. Listing Agent: Summer Brill.
Palo Alto
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summary: Homes are selling for $1290 – $1350 per square foot.
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notable sales: 435 Coleridge sold over asking with two offers. Metro Circle landed at $2.2M. The land is what it’s about. Expensive land. One off-market in South PA sold with a preemptive.
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new listings: a historic house on Lincoln, similar to the one that just sold on Kingsley.
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coming soon:
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a Crescent Park home for $9.5. Discretionary sellers.
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589 Coleridge: a 4800 sq ft house on a 12,000 sq ft lot.
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off market: Spanish revival courtyard house by Jordan Middle School. Great family house.
Portola Valley
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summary: a fair amount of activity last week. The momentum is in Ladera and Portola Valley Ranch.
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notable sales:
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Ladera is hot. It’s the perfect solution for young families. It’s a super family community: schools, close in, the shopping center right there. Little ranchers are going crazy. A few broke through the $2M glass ceiling. 230 S Balsamina, listed at $1.625, sold over $2M – and it wasn’t nearly as nice as La Mesa, which went for $1.995M last month.
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a lot sale on Mapache got two offers, just barely above list price. 2.5 acres for low 3’s looks like a great deal, compared to the skyrocketing prices on little ranchers in Ladera.
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new listings:
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Vista Verde: nice house, really big. 7 minutes to Ladera. Lot of brass. Brass is back! List: $2.7M.
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3BR on Cervantes: slightly awkward, half original, half new, unpermitted work.
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Joaquin and El Ray: fabulous views, but you must be a billy goat to get up there. People in the hinterlands are coming to the market now because they know it’s a good time.
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Redwood City
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notable sales:
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developer who’s recently bought several properties way over the market bought a teardown in Edgewood Park. 9600 sq ft lot. List: $949. Sold: $1.3M.
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a Palo Alto buyer bid up 1179 Grand, located in a pocket of Eichleresque houses. List: $1.5. Sold: $2.05M.
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a nicely done 2/1 with 1400 sq ft. List: $799. Sold: $987.
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new listings: a big number on a funky floor plan in Edgewood Park. List: $2.025M.
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active listings:
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1519 Hopkins by Grand. 3500 sq ft house on 8020 sq ft lot. Pro: a great little pocket – big houses on big lots. Con: a busy street: List: $1.7M.
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someone’s pushing the price on Poplar up by Virginia. A nice pocket in transitional neighborhood – and a big number for that little area. List: $1.275M.
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- coming soon: Edgewood Park, 3,000 SF home on large lot. Stunning 2-story 4 bedroom remodeled home in gated community. Listing agent: Jenny Liske.
Woodside
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summary: pretty quiet last week. A bunch of new inventory last week, none of it’s moving. When something good comes along, it stands out. It gets multiple offers and goes fast.
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new listings: a well-done house, but sloped, came on MLS. List: $7M.
Open House Report
Palo Alto: on the slow side
Los Altos: really crowded
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