Atherton, California, is an incorporated town in San Mateo County in the northern California region, that is home to a population of just under 10,000 people. Though the market for residential properties and real estate in Atherton was negatively affected by the recession in the U.S. in recent years, in most recent months it has begun to show some signs that it is on the road to recovery.
In July, the most recent month for which statistics are available, according to statistics kept and compiled by the San Mateo County Association of Realtors, there were 23 new Atherton homes for sale listed on the market, up from 15 new listings in June. This figure was up substantially from a year ago, when there were just eight new listings in July. This year saw current inventory in the month at 62, down from a year ago, when it was 38. Despite a larger inventory, there were actually fewer sales this year. In July there were just four sales closed, versus 10 a year earlier.
The average number of days homes spent on the market before selling has returned to a relatively normal level. In July, homes spent an average of 48 days on the market before selling, down from 65 in June and down quite a bit from one year ago, when homes spent an average of 195 days on the market before selling, as the number of foreclosures in Atherton has leveled off.
The average sales price for a home in Atherton was $4.13 million, up from about $3 million the month prior and up from $3.2 million a year ago. The median price in July was $3.7 million, up from $2.5 million in June and from $2.7 million in July 2009.