Los Altos and Los Altos Hills homes sold
Area 211 of Los Altos (North Los Altos) had 8 sales with an average list price of $2,421,750 and an average sale price of $2,613,000 for July 2014. On average that means that homes sold for 8% over list price. What do you get for that price: a 47 year old 2,533 square foot home on about 10,096 square feet of land. All of these homes sold belong to the excellent Los Altos School district. A rough reference number you can use in your home search is properties sold for about $1,042 per square foot of living space.
Area 212 (County Club) had 2 closings in July. With only two homes averages would be meaningless. The sale prices were $2,300,000 and $2,165,000. Both houses were about 3000 square feet. Country Club is an area that is mostly unincorporated Los Altos – outside the cities boundaries but still within their sphere of influence.
Area 213 (the Highlands) had 3 closings in July. The average home sold in July was 49 years old with 2,331 square feet of living space on an 11,167 square foot lot. The average price per square foot for July was $911 per square foot.
Area 214 (South Los Altos) had 15 closed sales in July. These homes averaged 53 years old with 2,446 square feet on a 10,950 square foot lot. The average per square foot price was $973. There are two school districts that cover south Los Altos – if we look at just Los Altos Schools the average per square foot is $998 per square foot and for just Cupertino Schools is $906 per square foot.
Los Altos Hills has two school districts (Palo Alto and Los Altos) so I break down the pricing by School District.
For Los Altos Hills with Los Altos Schools there were two closed sales. One sold for $3,328,000 and the other for $2,220,000. They were both about 60 years old with 2600 and 3300 square feet of living space. Average per square foot price was $932
Palo Alto Schools in Los Altos Hills homes – 5 sold in July. Sales prices ranged from $2,250,000 to the largest sale – which chose to withhold its sale price. It was listed at $6,500,000. The average per square foot was $874 but usually demand for Palo Alto schools causes the Palo Alto Schools homes to sell for more the Los Altos Schools homes.
Many factors affect the price per square foot including view, location, how much flat land exists, and more. I would not use this average – look at a longer time frame then one month. In fact you should not use per square foot averages for any more then a quick measure of a homes value. For its real value it takes market knowledge and experience.
The data is from sales on the MLS from 7/1/14 to 7/31/14 for single family homes sold in Los Altos and Los Altos Hills in California. Located in the Silicon Valley between San Francisco and San Jose.