April Newsletter

April 2023
Newsletter

Market Update

In April the market continued to recover but with many dynamics at play.

The collapse of SVB, and now First Republic Bank, largely appears to have been shrugged off by buyers in our market.  Many sellers are reluctant to list their homes in such an uncertain market but those who do are finding that buyers are moving quickly to buy good properties.  

Days on market is declining.  However, on a year-over-year basis, median home sales prices have also declined - albeit from the very overheated market in the Spring of 2022.

For our sellers, we are advising great preparation and presentation and pricing reflective of where the market is right now.  

For our buyers, if you find your home, don't hesitate to make a strong offer quickly.  In an uncertain market, both buyers and sellers are looking for a solid, stress-free outcome.

For more specific market data, click here:

Stanford Circle, San Mateo County, Santa Clara County

Neighborhood Spotlight

Willow Oaks Park Improvements
Pop Up Event

Construction for the improvements of Willow Oaks Park is anticipated to begin this summer! There will be a pop-up information booth showcasing the improvements at Willow Oaks Park in Menlo Park on Saturday, May 13 from 11am-1pm.

Some of the improvements include playground renovations, dog park enhancements, a new picnic area and improved connectivity of pedestrian/bike path to the surrounding neighborhood!

Our Listings

Los Altos Hills

$15,000,000

Breathtaking property in the most prime Los Altos Hills location with privacy, exquisite architecture, fabulous grounds and Bay views, all within a short distance to Downtown Los Altos.

Menlo park

886 Berkeley Avenue

4 BD   3 BA   2,200 SF   $4,200,000
www.886Berkeley.com

Palo Alto

555 Byron Street #410

3 BD   2 BA   1,546 SF   $1,600,000
www.555Byron410.com

Pending

300 Sand Hill Circle #303, Menlo Park

$2,200,000  |  3 Beds  |  2 Baths
Beautiful, spacious top floor 3 bedroom/2 bath condominium in prime Sharon Heights complex.

www.300SandHill303.com

Recently Sold

Stanford

753 Frenchmans Road

One of the finest homes on Stanford campus of 5,300 sqft on an acre.

Represented Buyer

Cupertino

21190 Canyon Oak Way

Beautiful home on .58 acres close to Rancho San Antonio Open Space.

Represented Seller

Old Palo Alto

151 Melville Avenue

Classic Old Palo Alto home, beautifully updated and expanded, on a large lot.

Represented Seller

Menlo Park

9 Politzer Drive

Charming 3 bedroom home with lush landscaping.

Represented Buyer

Monica Corman & Mandy Montoya

Monica: 650-465-5971
monica.corman@compass.com

Mandy: 650-823-8212
mandy.montoya@compass.com

Statistics are generalities, essentially summaries of widely disparate data generated by dozens, hundreds or thousands of unique, individual sales occurring within different time periods. They are best seen not as precise measurements, but as broad, comparative indicators, with reasonable margins of error. Anomalous fluctuations in statistics are not uncommon, especially in smaller, expensive market segments. Last period data should be considered estimates that may change with late-reported data. Different analytics programs sometimes define statistics - such as "active listings," "days on market," and "months supply of inventory" - differently: what is most meaningful are not specific calculations but the trends they illustrate. Most listing and sales data derives from the local or regional multi-listing service (MLS) of the area specified in the analysis, but not all listings or sales are reported to MLS and these won't be reflected in the data. "Homes" signifies real-property, single-household housing units: houses, condos, co-ops, townhouses, duets and TICs (but not mobile homes), as applicable to each market. City/town names refer specifically to the named cities and towns, or their MLS areas, unless otherwise delineated. Multi­county metro areas will be specified as such. Data from sources deemed reliable, but may contain errors and subject to revision. All numbers to be considered approximate.

Many aspects of value cannot be adequately reflected in median and average statistics: curb appeal, age, condition, amenities, views, lot size, quality of outdoor space, "bonus" rooms, additional parking, quality of location within the neighborhood, and so on. How any of these statistics apply to any particular home is unknown without a specific comparative market analysis.

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.