1377 El Camino Real PRSRT STD Menlo Park, CA 94025 U.S. Postage PAID San Francisco, CA Permit No. 2001 Information deemed reliable, but not guaranteed. If your property is currently listed for sale, this is not intended as a solicitation of that listing. ©Marketing Designs, Inc. 650.802.0888 marketingdesigns.net 2017 Real Estate Review ATHERTON WOODSIDE MENLO PARK PORTOLA VALLEY www.HughCornish.com 650.566.5353 DIRECT 650.619.6461 CELL
[email protected] Top 1% Internationally – Coldwell Banker Presented by Ranked #125 Nationally by The Wall Street Journal, 2017 Over $2 Billion in Sales Dear Neighbor: I am proud to present the 19th edition of my Real Estate Review, which includes a summary of the sales statistics for Atherton, Menlo Park, Portola Valley, and Woodside, as well as an overview of each community. It is my hope that this report is a useful tool for local property owners and potential buyers enabling a better understanding of market trends and residential property values. Many significant events in 2017 will likely have an effect on our national economy and local housing market. A new Republican administration, substantial changes to our tax code, and the Dow Jones setting new record highs are just a few highlights. 2017 THE LOCAL REAL ESTATE MARKET While 2016 marked the first year of local home prices starting to level off, 2017 R e a l experienced the first decreases in over 5 years. Using average prices of residential properties for sale on the Multiple Listing Service (MLS), Menlo Park increased 8% and Estate Portola Valley increased 14%, while Atherton and Woodside decreased by 30% and 25%, respectively.