Los Altos Real Estate Market Update - June 2024

Los Altos, known for its quiet, tree-lined streets and excellent schools, is a highly desirable residential area in Silicon Valley. As of May 2024, Los Altos’ real estate market remains highly competitive, with 37 active listings and homes selling in an average of 12 days. This longer selling period suggests a slightly more balanced market compared to earlier in the year, providing buyers with a bit more time to make informed decisions. However, the demand for properties in Los Altos remains strong, driven by the area’s quality of life and strategic location.

The months of inventory in Los Altos is at 1.2 months, indicating a strong seller’s market. This low inventory level highlights the high demand and limited supply of homes, maintaining upward pressure on prices. The price per square foot in Los Altos stands at $1,830, reflecting the premium nature of properties in this area. The town’s scenic beauty, excellent schools, and vibrant community life contribute to its strong real estate market, making it an attractive destination for affluent homebuyers and investors.

The median sale price in Los Altos is $4,302,000, showcasing the high-value nature of the market and the competitive bidding environment. This significant median price underscores the affluent nature of the community and the desirability of Los Altos as a residential destination. The continued demand from families and professionals, coupled with the town’s amenities and lifestyle offerings, ensures that the real estate market remains robust. As we progress through 2024, these trends are expected to persist, solidifying Los Altos’ reputation as a premier residential area in Silicon Valley. The strong economic fundamentals and high quality of life will likely continue to drive demand and sustain high property values.