Moves & Metrics

May 2026

Much like a home in escrow, this month’s market report experienced a slight delay in closing. With Patrick Carlisle’s retirement, the new Compass analytics team is working through issuing the monthly reports. A few speed bumps aside… the data is in!

Santa Clara County

Competition remains strongest in the family-home markets.
Palo Alto, Los Altos, Cupertino, and parts of Mountain View continue to benefit from school-driven demand and proximity to major tech employment. Even in a higher-rate environment, buyers continue to compete aggressively for turnkey inventory.

The market is rewarding Seller preparedness.
A recurring theme across Santa Clara County: homes that are thoughtfully updated, priced correctly, and marketed well are moving quickly. Buyers are highly discerning, but decisive when the product aligns.
Luxury and practicality are coexisting.
Unlike the pure trophy dynamic in Atherton, many Santa Clara luxury markets blend aspirational buying with daily livability: schools, commute patterns, walkability, and newer housing stock continue to matter alongside prestige.

San Mateo County

Buyer demand accelerated faster than inventory.
Inventory still hasn’t fully caught up, especially in premium neighborhoods (I am not sure it ever will!). That mismatch helps explain why desirable homes are continuing to move quickly and overbidding remains alive and well.
Luxury continues to outperform
The affluent buyer remains surprisingly resilient despite higher rates and macro uncertainty. In other words: the top of the market is still acting like the top of the market.
Competition quietly intensified
67% of homes selling over asking countywide
Average sale price 7% over list, the strongest showing since spring 2022.
Price reductions dropped
Homes are increasingly finding their buyer without needing price corrections this assumes they’re positioned correctly from the start.

**All data is prepared by Compass and based on April 2026 data.

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CITY HIGHLIGHTS

Palo Alto

Median Home Price:
$3,143,833
Average DOM: 11 days
Palo Alto continues to benefi t from a unique combination of institutional wealth, top-ranked schools, and proximity to major innovation hubs.
Demand remains strongest for turnkey family homes in premier neighborhoods, while buyers continue to reward quality and location over compromise.
Top Sale of April 2026:
📍1711 Webster | $18,880,00 | 13.7% Below Asking

Menlo Park

Median Home Price: $3,050,000
Average DOM: 12 days
Menlo Park continues to occupy a compelling middle ground in the luxury market: prestigious but practical.
While buyers remain selective, well-positioned homes continue to move quickly, reinforcing Menlo’s reputation as a highly functional luxury market.

Top Sale of April 2026:
📍2319 Warner Range Ave | $11,750,000 | 6% Below Ask

Atherton

Median Home Price: $8,460,000
Average DOM: 10 days
Atherton remains in a category of its own. Demand here is less infl uenced by mortgage rates and more connected to liquidity events, public markets, and long-term wealth preservation.
Buyers at this level remain highly selective, yet exceptional homes, particularly those offering privacy, land, and architectural pedigree, continue to trade quickly when priced strategically.
Top Sale of April 2026:
📍241 Polhemus Ave
|
$22,750,000
| 9% Below Ask
Reminder: In ultra-luxury markets like Atherton and Los Altos Hills, a handful of marquee sales can materially shift monthly medians.

Los Altos

Median Home Price: $4,204,000
Average DOM: 11 days
Demand remains strongest for turnkey family homes and thoughtfully updated properties, while buyers continue to show willingness to compete for homes that balance lifestyle with long-term value.
One trend worth watching: inventory has improved modestly, giving buyers slightly more choice while doing little to diminish demand for exceptional homes.
Top Sale of April 2026:
📍393 Covington Rd | $9,300,000 | 36.8% Above Ask
Los Altos Hills
Median Home Price: $6,000,000
Average DOM: 20 days
Los Altos Hills continues to trade as a privacy-and-land market rather than a pure neighborhood market.

Buyers here tend to prioritize acreage, architectural signifi cance, views, and long-term lifestyle over proximity and walkability.
Top Sale of April 2026:
📍12950 Cortez Ln | $7,100,000 | 1.6% Above Ask
Reminder: In ultra-luxury markets like Atherton and Los Altos Hills, a handful of marquee sales can materially shift monthly medians.

Vase of Tulips = Newsletter Inspiration.
May’s newsletter is about accidental community, becoming regulars, and why in a Bay Area housing market with very little inventory a dependable seat at the bar may be easier to fi nd than a move-in ready home!

Lisa M. Musich

Compass is a real estate broker licensed by the State of California operating under multipleentities. License Numbers 01991628, 01527235, 01527365. All material is intended forinformational purposes only and is compiled from sources deemed reliable but is subject toerrors, omissions, changes in price, condition, sale, or withdrawal without notice. Nostatement is made as to the accuracy of any description or measurements (including squarefootage). This is not intended to solicit property already listed. No fi nancial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhancedand may not refl ect actual property conditions.