Los Altos Real Estate Market Trends Past 3 Years - Q2 2024

Los Altos, known for its serene neighborhoods and excellent schools, continues to attract homebuyers seeking a high-quality suburban lifestyle. As of Q2 2024, Los Altos’ real estate market shows a number of 83 sold single-family homes. Homes are selling quickly, with single-family homes averaging just 11 days on the market. This rapid turnover highlights the strong demand for properties in this city, driven by its desirable living conditions and strategic location. The quick pace of sales indicates a competitive market where buyers need to act swiftly to secure homes.

The price per square foot in Los Altos stands at $1,873 for single-family homes, reflecting stable and high property values. Over the past three years, the price per square foot has increased from $1,601 in Q1 2021 to $1,873 in Q2 2024, indicating a strong and consistent appreciation in property values. The city’s blend of suburban charm and urban amenities makes it an attractive location for homebuyers, contributing to the strong demand and competitive pricing. This consistent rise in property values underscores the desirability of Los Altos as a premier residential destination.

The median sale price in Los Altos is $4,302,000 for single-family homes, showcasing the ongoing demand and competitive nature of the market. Historically, the median sale price has seen a significant rise from $3,820,600 in Q1 2021, reflecting a substantial increase over three years. These significant median prices reflect the desirability of Los Altos as a residential destination, where the combination of economic opportunities, excellent schools, and a vibrant community life creates a strong market. As we move further into 2024, these trends are expected to continue, reinforcing Los Altos’ position as a key residential area in the region. The continued influx of homebuyers, coupled with the city’s robust economic base, will likely sustain high property values and competitive sales across all types of residential real estate.