Here, Atherton (population: 7,187) is in blue, Menlo Park (34,549 ) is red, and Palo Alto (66,666 people) is in orange). Town and Counties Let’s start coloring all the dots. And Menlo Park has a wonderful area of Burgess Park and City buildings which appear like blank space in this kind of map. There is a large Veteran’s Affairs facility on Willow near the 101 that locals often don’t think much about.
We can see big gaps where there are no residential properties, like Palo Alto’s office space areas flanking Page Mill, or the hole in the middle of Atherton where Menlo School, Scared Heart, and the Circus Club are. Though technically not a part of Menlo Park, these two areas are charted here as if they are. Heavy concentrations, like North Fair Oaks and University Heights, reflect small lots and density. Sparsely dotted areas, like West Atherton, have a lot of 1 acre+ expansive properties. Big lots just have a lot more space around them. The closeness of the dots could indicate two things: lots of turnover in a specific area (unlikely), or the lot size (quite likely). Commercial areas of interest are shaded in the diagram below: Many people often want to live inside walking distance, but outside noise distance, of a vibrant downtown. Easy, right? Let’s add in the commercial centers. So you know that the main traffic arteries of the Atherton-Menlo Park-Palo Alto area are the 101 to the northwest, the 280 to the southeast. We moved from NYC 13 years ago to North Palo Alto and plan to never want to leave. Sorry, neighbors of the lovely Palo Alto Hills Golf and Country Club! Our Base Map Hey, you’re a local like us. (Mind you, if we’re pricing your 2 acre Atherton home for sale, you bet we’ll be using off-market data!) We scrubbed out a few data points where there were obvious data entry problems, and omitted 18 sales in the large but mostly unpopulated Palo Alto foothills area. So we’re comfortable to omit off-market sales here. And it’s a ton of effort for little payoff in this case.
#Dear esther platinum plus#
Plus this is a trend/comparison analysis, so we think it is acceptable. There are data availability issues with off-market info. Are we missing a lot by not having the off-market sales included? We’ve demonstrated in private analyses with clients that, across a large enough sample, private sales in Atherton are not qualitatively different from the on-market data… the average size and price are similar. So it’s a tradeoff between getting enough data to meaningfully fill a map and show trends, and keeping the date range tight to keep the data meaningful. We limited it to relatively recent data to keep figures like “dollars per square foot” (“$/ft2”) meaningful, but even so we must recognize that there was inflation between 20 (+7% in Palo Alto’s Average Sales Price, +22% in Menlo Park, and +27% in Atherton). Specifically, we use 3,927 data points of single family residence transactions that closed on the public market (MLS data) between and.
Fasten your seat belt and get ready for a fun ride! How’re We Going To Do This? We’re going to look at three municipalities – the City of Menlo Park, the City of Palo Alto, and the Town of Atherton.
We’re going to Jackson Pollock scatterplot real data all over latitude and longitude, and attempt to gain insights into where luxury is in the heart of Silicon Valley. Dear reader, we will serve you up a healthy meal of the whole dataset at once, to gawk and gander at where the biggest homes really are, where dollar per square foot is the highest, and even where the all-cash buyers are-all in glorious visual detail and grandeur. But a lot of real estate information about location gets collapsed and compressed into a processed wiener of summary information- losing valuable insights along the way. Try to find your street in the charts below it’s fun! We’ve all heard the manta that what matters in real estate is “location, location, location”. Maybe you have your own definition of what it is. What is “luxury”, really? We’ll look at several factors- sale price, lot size, house size, dollar per square foot, pools, and source of financing- and see how much they cluster in any area. And we, dear reader, are way smarter than that. Are all Palo Alto homes really 24% “better” than all Menlo Park homes? Of course not! But unless we use the data better, we can get tricked. The median Menlo Park home sold for 2.34 million. Where is Luxury Located? Since 2015, the median Palo Alto home sold for $2.9 million.
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