Month-over-Month Changes

In November 2023, the Atherton real estate market experienced notable shifts compared to October 2023:

  • Homes Sold: There were 8 homes sold, a decrease of 11% from 9 sales in the previous month.
  • Median Sale Price: The median sale price decreased by 14%, from $7,295,000 in October 2023 to $6,247,500 in November 2023.
  • Days on Market (DOM): The DOM increased significantly to 50 days in November 2023, up from 8 days in October 2023.
  • Percentage of List Price Received: Sellers received 98% of their asking price in November 2023, a slight increase from 96% in October 2023.

Analysis

The month-over-month data for Atherton indicates a cooling trend in the market. The decrease in the number of homes sold and the significant increase in DOM suggest a slowing demand. However, the slight increase in the percentage of list price received indicates that while the market may be cooling, sellers are still achieving near-asking prices.

Year-over-Year Comparison

Comparing November 2023 to November 2022, the Atherton market shows the following changes:

  • Homes Sold: Increased by 60%, from 5 homes in November 2022 to 8 in November 2023.
  • Median Sale Price: Saw a decrease from $10.00M in November 2022 to $6.25M in November 2023.
  • Days on Market: Increased from 20 days in November 2022 to 50 days in November 2023.
  • Percentage of List Price Received: Improved slightly from 96% in November 2022 to 98% in November 2023.

Analysis

Year-over-year, Atherton’s real estate market has experienced a significant increase in the number of homes sold, indicating a rise in market activity. However, the decrease in median sale prices and the increase in DOM suggest a shift towards a more balanced market, where buyers might have more negotiation power.

Price Points and Quadrants

The sales data for November 2023 in Atherton, broken down by quadrants, reveals:

  • Top Quadrant: 2 homes sold, Median Sale Price: $16,844,444, Median DOM: 58, Avg. $/Sq.Ft.: $2,070.
  • Second Quadrant: 2 homes sold, Median Sale Price: $11,497,500, Median DOM: 115, Avg. $/Sq.Ft.: $1,866.
  • Third Quadrant: 2 homes sold, Median Sale Price: $4,600,000, Median DOM: 34, Avg. $/Sq.Ft.: $1,877.
  • Bottom Quadrant: 2 homes sold, Median Sale Price: $2,600,000, Median DOM: 98, Avg. $/Sq.Ft.: $1,343.

Analysis

The quadrant data for Atherton in November 2023 shows activity across all price ranges. The top and second quadrants, representing the higher-priced homes, have longer DOM, indicating a slower movement in this segment. In contrast, the third and bottom quadrants show a more balanced movement with moderate DOM and sale prices.

Conclusion

The Atherton market in November 2023 demonstrated a decrease in homes sold month-over-month but an increase year-over-year. The market is experiencing a shift with longer DOM and a decrease in median sale prices year-over-year. The quadrant data provides insights into the varying dynamics across different price segments, with higher-priced homes moving slower compared to the more moderately priced homes.

Data provided by MLSListings and is deemed reliable but not guaranteed.