Introduction

In real estate, we often look at past data to understand current market trends. This report focuses on the Atherton market for August 2023, providing a comprehensive analysis that is invaluable for both buyers and sellers. 

Month-over-Month Changes

In August 2023, Atherton experienced significant fluctuations compared to July 2023:

Homes Sold: 12 homes were sold, a 500% increase from 2 sales in July 2023.

Median Sale Price: Rose by 54%, from $5,319,000 in July to $8,215,000 in August.

Days on Market (DOM): Decreased to 77 days from 94 days in July.

Percentage of List Price Received: Sellers received 94% of their asking price, a slight increase from 93% in July.

The market remains highly competitive, with a surge in sales and a notable increase in median sale prices.

Year-over-Year Comparison

Comparing August 2023 to August 2022, the following changes were observed:

Homes Sold: Increased by 100%, from 6 to 12.

Homes Listed: Decreased by 12%, from 8 to 7.

Median Sale Price: Increased by 33%, from $6.17M to $8.22M.

Days on Market: Increased to 77 from 14.

Average Dollar per Square Foot: Decreased by 14%, from $1,990 to $1,702.

Percentage of List Price Received: Decreased by 4%, from 98% to 94%.

Months of Inventory: Decreased by 47%, from 3.8 to 2.0.

The market has become more active in terms of sales but shows a tightening inventory and a slight decrease in the percentage of list price received.

Price Points and Quadrants

The sales details for August 2023 were broken down into quadrants:

Top Quadrant: 3 homes sold, Median Sale Price: $11,100,000, DOM: 86, Avg. $/Sq.Ft.: $1,469.

Second Quadrant: 3 homes sold, Median Sale Price: $8,400,966, DOM: 92, Avg. $/Sq.Ft.: $1,742.

Third Quadrant: 3 homes sold, Median Sale Price: $8,019,000, DOM: 105, Avg. $/Sq.Ft.: $1,697.

Bottom Quadrant: 3 homes sold, Median Sale Price: $6,200,000, DOM: 61, Avg. $/Sq.Ft.: $1,776.

The top and second quadrants are the most active, indicating a market leaning towards higher-priced homes.

Conclusion

The Atherton market in August 2023 showed a significant increase in sales and median sale prices compared to the previous month and year. The market is competitive but shows signs of tightening inventory. The data suggests that higher-priced homes are more active in the market.

 

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