Intero Real Estate Blog

Buyers often contact us – looking for a new home.  With the limited land available in Silicon Valley – most folks start off with a home that could be 30, 40, or even 50 or more years old.  And even though – these older homes might be extensively remodeled and in wonderful condition – the dream of owning a brand new – never lived in – home remains.

In Los Altos – there are approximately 10,000 homes and the median age of Los Altos homes on the market is currently 47 years.  So what’s new in Los Altos?   What is available on the market that is brand new?

Currently – there are 11 new homes on the market.

Here’s the range of new single family homes in Los Altos -

High End: A brand new home with over 6700 sq feet of living space – 6 bedrooms, 4+ bathrooms, a wine cellar, and full basement on a 14,000+ sq ft lot.  List price:  $4,995,000.

Low End: A brand new home with 4000 square feet of living space – 4 bedrooms, 2 ½ bathrooms, and a basement on a 7000 sq foot lot.  This home is located on a smaller corner lot on the edge of a busy street.  On a larger lot on a quieter street – I think this home would sell for significantly more than its current list price of $1,599,000.

Just the Dirt - Note that there is one more brand new “single family” home listed for sale in Los Altos for the bargain price of only $998,888.   On closer inspection – though – it turns out that this home is actually just a nice piece of dirt.  It’s a 6750 square foot lot with approved plans and permits for a 4 bedroom, 2 ½ bath home.   You supply the general contractor, materials, labor and construction budget to build your new dream home.

The median new home on the market in Los Altos is listed for $3.2 million and features 5 bedrooms and 4+ bathrooms.  It has 3557 sq feet of living space on a lot that is approximately a quarter acre.    The spec builders in Los Altos are making these new houses “big” with lots of amenities like

• wine cellars, outdoor kitchens and dedicated theater rooms
• basement “suites” for the extended family (a place for your teenagers)
• decadent master suites with huge master baths and walk-in closets bigger than my first apartment
• great rooms combining a gourmet kitchen, walk-in pantry and family room
• dedicated offices with built in bookcases and enough high tech wiring to make your favorite geek grin

In Los Altos, I expect to see a trend in the coming years towards slightly smaller single-level homes with an ongoing emphasis on special amenities and high end finishes.   We need our toys.

If you’re not quite ready to buy or build your brand new dream home in Los Altos, here’s a market snapshot of the overall Los Altos real estate market for single family homes: