Real Estate For Sale In Los Altos CA

Juliana Lee Team
JLee Realty
4260 El Camino Real
Palo Alto, CA 94306


What Are Los Altos House Prices?

Are Los Altos House Prices Changing?

Los Altos Real Estate Prices

May 21, 2024 | real estate trends

There has been a slight shift in Los Altos real estate preferences. Los Altos house prices have grown since 2020. Los Altos townhouse prices have grown since 2020. Los Altos condo prices have sagged since 2020. The difference in growth is likely partly due to the higher mobility of condo owners.

Los Altos House Prices

Although there have been spikes up with subsequent drops (motivated by interest rate changes), the trend for Los Altos house prices has been upward since 2020.

Los Altos house prices

Los Altos Townhouse Prices

Los Altos townhouse prices have trended nearly flat since 2020, with numerous up-and-down quarterly changes. Overall, there appears to be a slight upward trend.

Los Altos townhouse prices

Los Altos Condo Prices

Los Altos condo prices have sagged downward after 2020 except for the first and second quarters of 2024. The second quarter of 2024 has far too few closed escrows to represent the final result after all escrows have closed.

Los Altos condo prices

East Bay House And Condo Prices

Newark and several other East Bay cities have shown stronger growth for houses and condos. Other cities with similar growth are Fremont and Union City.

Newark house and condo prices

In 2020, Remote Work Reduced The Cost Of Commuting

Remote work became an option either wholly or partially in 2020 in response to COVID-19 health risks. The cost of getting to work was reduced for East Bay residents and other residents at the edges of Silicon Valley who work in the heart of Silicon Valley. Both homeowners and prospective homeowners saw a change when comparing the cost of living in the heart of Silicon Valley vs. at the edges of Silicon Valley. Condo owners and prospective condo owners were presented with the possibility of either owning a larger condo, a townhouse, or even a house at close to the cost of owning a condo in the heart of Silicon Valley. House owners with significant equity in their homes would see less gain by moving to the edges of Silicon Valley.

Although remote work has changed the commuting cost of living further from the heart of Silicon Valley, it has little reason to affect preferences between condos, townhouses, and houses. Differences in the mobility of the existing owners have probably temporarily affected the price ratios.