While this figure marked the third-highest average sales price by quarter in market history, it was only a modest gain of 2 percent from a year prior. Along with this stabilizing trend, the 1,166 homes sold this quarter was just a 6 percent decrease from Q3 2015. Although these figures won’t create for many headlines, it does showcase the prominent Q3 trend of a healthier and more buyer-friendly market than we’ve seen over the past few years here in the Bay Area. This accessibility was also evidenced in the average 26 DOM being up 22 percent from the previous Q3 2015—a sign that buyers are exercising more patience. AVERAGE SALES PRICE BY CITY – THE TOP 10 Atherton continued to show extraordinary gains, as has been the case over the past several years, with its $9.004 million average home sale up 45 percent year-over-year. This included five sales of $13 million-plus, including a Bay Area high $30.75 million closing. Atherton—with limited inventory, low turnover, and status as one of the most coveted locations in the country— is a world of its own and will stand rock solid for years to come. SALES PRICE CHANGE
Homes that required no price change took in 104 percent of initial asking price. The counterpoint to this rather ordinary figure was a 13 percent loss for those who tested the market. This last figure should only further encourage home buyers in this exclusive market.