You may have seen recent headlines announcing Atherton (94027) as America’s most expensive zip code. Atherton is in the Bay Area which is a very desirable market due to its proximity to jobs, education and outdoor activities. Many residents are highly educated and affluent. When you are looking for an Atherton home for sale, it is important to note that this area is in the upper range of an already competitive market.
In its 2021 report, Property Shark identified the median sale price for an Atherton home as $7.47 million making it the top zip code in the United States.
What Types of Homes are for Sale in Atherton?
Atherton has many beautiful single-family homes that are often situated on large lots. This exclusive neighborhood is the choice of many wealthy Americans such as NBA star Stephen Curry and former Google CEO Eric Schmidt. However, sizes can range from moderate 3-bedroom family homes to large estates. The community is within easy commuting distance of San Francisco and Palo Alto.
Is the Atherton Market Cooling?
Overall, the real estate market is not cooling in California according to Jordan G Levine, VP & Chief Economist, California Association of Realtors, speaking to the association in a presentation earlier this year. However, it may be moderating after a spike in home sales caused by the pandemic and historically low interest rates.
Atherton home sales are not an exception as the Property Shark data shows prices increasing 7 percent year over year. An Atherton home is a good investment as the Bay area is expected to experience continued economic growth.
While the upward trend in home sale prices is expected to slow, interest rates are expected to increase to 3.5 percent in 2022 according to the National Association for Realtors (NAR). Although this is an increase, it is still considered historically low, and buyers who are able may want to take advantage of them while they can.
How To Buy a Home in Atherton
If you are looking for an Atherton home for sale, it is important to find a good real estate agent to help you find exactly what you need. We are experts at locating the right properties, negotiating and making successful offers. If you have an Atherton house for sale, they can work in your interest to get the best price for your asset.