After a long period of inactivity, Portola Valley and Woodside have finally busted out with a positive quarter, led mostly by high end sales in both cities. Portola Valley showed a 32% rise in average sale prices, a number that is actually higher in that it does not reflect several over $10 million dollar off-market sales. Likewise. Woodside posted a 20% rise. It, too, had several unreported sales in the over $10 million dollar market. Woodside Hills and Woodside Glens showed sharp signs of recovery. All in all, it appears that the buyers are back in rural markets of the mid-peninsula.
 

PORTOLA VALLEY  |  WOODSIDE

Brookside Park
Significant drops in average and median sales prices from the same quarter last year masks the positive news that sales are up 300%, as buyers responded to seller’s realistic pricing. Inventory also plummeted to a 30 day supply as the market shifted sharply in the sellers favor.

Central Portola Valley
Wow. The hill busted out with over 60% bumps in the median and average sales price as the high-end buyers leapt off the fence. Several mega “quiet sales” also occurred. They are not reflected in the official numbers making this one of the best quarters seen in the neighborhood since the go-go days.

Ladera
Ladera continues its strong performance as one of the least volatile neighborhoods in Portola Valley. Except for a disappearing act in the first quarter of 2009, the neighborhood has performed remarkably well through the last downturn and continues to show steady price improvements on a quarter by quarter basis.

Los Trancos/Vista Verde
Schizophrenic numbers reflect a high end sale in the Buck Meadows neighborhood mixing with some entry level sales in Los Trancos.

Portola Valley Ranch
PV Ranch bounced back from a few week quarters with some solid sales. Low inventory bodes well for increased prices.

Santa Maria / Russell Area
Prices reached a two year high as inventory dwindled and under contract sales rose in the neighborhood.

Central Woodside
The sweet spot of Woodside matched Central Portola Valley as prices surged up the charts after two years in the doldrums. Multiple high-end “quiet sales” also went down as a flurry of sales occurred in the later part of the quarter. Under contract sales were up 100%, but inventory also rose dramatically as pent-up sellers listed in response to the new prices.

Emerald Hills
Prices held firm but inventory dropped and sales tripled forecasting potential price appreciation in the coming quarters.

Hidden Valley
Volume is so low in this neighborhood that statistics are insignificant, so we leave it off our graph. That being said a $20 million property on Hidden Valley sold after a year on the market. Another example of the return of the elite home buyers.

Woodside Glens
Finally some price recovery after a tough 2010. Inventory still remains way too high and even climbed dramatically in the second quarter, up 50% over the year before.

Woodside Hills
The best performing neighborhood in Woodside and Portola Valley. Inventory dropped over 50% from the previous year resulting in a surge in sale prices. Sales were also up 300% as buyers recognized that the deals were disappearing and jumped in to purchase.