Los Altos Real Estate Blog

head_left_image

Home prices in Los Altos California 2013

Home prices in Los Altos are in their fourth year of recovery. Beginning with the end of declining prices in 2009 and the bottoming out of the market in 2010, Los Altos home prices have been steadily rising since then. 2010 saw the first gains in many years with home prices rising approximately 1%. In 2011, prices rose just under 5%. In 2012, the average selling price rose over 10%. This ongoing trend shows no sign of slowing down in 2013 as the market has very little inventory and a significant number of interested buyers.

 

 

Neighborhoods With Biggest Home Price Gains

North Los Altos saw some of the strongest activity driving home price gains in 2012. There were several transactions in Q4 where buyers bid home prices of 10% or more on several properties suitable for reconstruction. New construction with Los Altos is one of the key factors in driving pricing activity as buyers purchase homes to rebuild a remodel and speculators return.

The next two strongest neighborhoods included Old Los Altos and the Rancho neighborhood (including some immediately adjacent neighborhoods).  While the average selling price throughout Los Altos reached and exceeded $2 million in 2012, these neighborhoods consistently sold homes well beyond that price point.

 

 

Best Value Neighborhoods In Los Altos

Central Los Altos and south Los Altos remain the neighborhoods that offer the best values. Homebuyers will typically find slightly larger homes at a slightly lower price per square foot than other areas within the town. However, there are trade-offs. Buyers should be aware that in many South Los Altos neighborhoods they will get Cupertino schools and not Los Altos schools. While I find Cupertino schools to be excellent, it is important to be aware of what you're getting from one place to the next.

 

 

Home Price Trends for 2013

So far in 2013, most of the remaining inventory 2012 has sold and almost everything that has come on the market has sold.  Multiple offers remain standard and cash buyers are still a major factor in most sales. Based on the sales so far this year and the general lack of inventory, prices will definitely rise particularly in the first half. There are so many economic factors that can drive homebuyer behavior that there is no way to guarantee what will happen with home prices in the second half of the year. In my opinion, this year will be just as strong or stronger than last year.

 

If you have enjoyed reading my blog, please subscribe HERE!

 Want to know more about me?  Just Google Me! 

 

 Bryan Robertson, CEO | T: 650.799.9951 | Email: bryan@catarra-re.com | Website: http://www.BryanRobertsonHomes.com |CA BRE# 01191946 | Catarra Real Estate, Inc  | 171 Main St #220 | Los Altos, CA 94022

 

 

View Bryan Robertson's profile on LinkedIn

 

//

 

Comment balloon 5 commentsBryan Robertson • February 10 2013 07:11AM
Home prices in Los Altos California 2013
share
Home prices in Los Altos are in their fourth year of recovery. Beginning with the end of declining prices in 2009 and the bottoming out of the market in 2010, Los Altos home prices have been steadily rising since then. 2010 saw the first gains in… more
How the 49ers will beat the Baltimore Ravens in Super Bowl XLVII
share
I have decided to become a professional sports broadcaster. With my ample time watching football and supporting my favorite team, theSan Francisco 49ers, I think I've got what it takes to tell you how my favorite team will crush the Baltimore… more
Silicon Valley million dollar homes sales for 2012 - big numbers!
share
There were 2887 homes sold in Silicon Valley in 2012 with sales prices of $1 million or more. The sales occurred in nearly every market around Silicon Valley. It wasn't just a high-end that was selling well in 2012, it was every end in 2012… more
Homes sales will rise in 2013 and buyers should be prepared
share
According to the California Association of REALTORS home sales are projected to rise 1. 3% in 2013 for a total of 530, 000 units. Sales in 2012 were up 5. 1% from the prior year. With the market being so strong buyers are faced with a decision, by… more
Is downtown Los Altos being completely rebuilt?
share
About two years ago I wrote an article about how property in downtown Los Altos was being bought up for redevelopment. At the time I didn't know that one of the major developers, Passerelle Investments was behind much of the improvements (see… more
Predictions for Los Altos and Silicon Valley real estate in 2013
share
I'm often asked what the real estate market is doing and what is will do in the future. This is especially true in high-value markets like Los Altos but also true almost anywhere in Silicon Valley. While I don't have a crystal ball, I do have a… more
Los Altos First Friday December 7, 2012 6-10PM
share
This Friday, December 7, the next Los Altos First Friday event will be happening with the theme "All Aboard for the Holidays". This event is sponsored by the Los Altos Forward group which is a program of the Los Altos Community Foundation… more
14th Annual Fantasy of Lights in Vasona Park December 2012
share
The 14th Annual Fantasy of Lights is on now through December 31st. One of the best known holiday lights shows in the San Francisco Bay Area, the Fantasy of Lights is held in Vasona Park in Los Gatos. It's a 1. 5 mile drive through the park that… more
Vie Winery Holiday Open House!
share
I'm co-owner of Vie Winery and I'd like to personally invite you to our Open House and Holiday Wine Tasting event on Treasure Island this Saturday. We'll be pouring our newest award winning wines for your enjoyment. You'll have a chance to meet… more
2nd Annual Sip, Shop 7 Save at Winery SF December 2, 2012 12-5PM
share
The Winery SF (home to Vie Winery and others) will be holding its 2nd Annual Sip, Shop & Save event today. This is a great opportunity to try out over 30 wines from Vie Winery, Sol Rouge, and many others while getting discounts and seeing… more