Los Altos Hills location
Los Altos Hills is one the smallest incorporated towns in Silicon Valley with only 9 square miles and 8,000 people who call it home. One of the unique features of Los Altos is the Pathway system which is about 85 miles of trails and hiking routes that connects most of this small nit community.
With it’s unique location, Los Altos offers easy access to the Venture Community while being close enough to a hip office address in San Francisco. Los Altos offers a unique life style opportunity with large lots, providing much privacy and some rural settings while being near the Silicon Valley tech center such as Mountain View and San Jose.
For some of our investors interested in buying a home in Los Altos, California we want to know how far their money would have gone if they wanted to spend $2-$5 Million dollars last month on their purchase.
Below is the break down of the sales statistics for the total 4 homes that sold in Los Altos Sales in June 2013 that were listed below $5 million dollars:
List Price Range : $1,995,00 to $4,500,000
Sold Price Range: $2,515,000 to $4,300,000
1) List Price Per Sqft: The price per square feet for these 4 sales were $$794.62 which is a bit lower than the neighboring Los Altos prices for June 2013.
2) Average Size: The average of home size for these sales was 4,369 square feet among these home sold in June 2013. This is about 3,000 square feet large than the homes sold in Los Altos in the same period.
3) Days on the market: These 4 homes sold in Los Altos was between 7-58 days which is remarkably fast given the sold price of the homes. Two of these home closed escrow in under 10 days which were cash transactions. This is not a surprised specially given the thriving Tech Sector employment in Silicon Valley where well-funded Start ups and established successes such as Google are having a difficult time finding talent to Silicon Valley.
5) Average Sale Price: The Average Sale price of these 5 homes sold in Los Altos Hills was $3,244,500.
6) Sale Price Per Sqft: These Los Altos Hills homes sold for $838.26 per sqft which is a good indication of a sellers market since the they are getting more than 100% of their list price.
So the answer to the question as to what you could buy for $2-5 M in Los Altos Hill in June 2013; is a decent size home. We will be reviewing the Los Altos Hill Foreclosure Activity for June 2013 which should be posted next week to explore the impact of distressed sales in the market.
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