Slew of pre-spring sales recorded in nation’s priciest zip code
Atherton logged 7 sales over $10M in January and February alone
54 Mulberry Lane in Atherton (Blu Skye Media, Inc. Matthew Anello)
Ultra-luxury buyers are back in Atherton, with six sales above $10M closed in January and February alone, plus two more pending sales. The pre-spring deals in the country’s most expensive zip code could be an indication that the high-end market is on the rebound after the downturn in the latter half of last year.
Year-over-year December sales were down 42 percent in San Mateo County, according to Compass data, with higher-priced home sales dropping even further. There were only 138 sales above $3 million in the last quarter of 2022, a 56 percent decrease from the year before.
But this year the data is pointing in a more positive direction, according to a March Compass report. There were more than 20 sales above $5 million in San Mateo County in February, about double the February 2022 figures. Sales over $6 million saw an uptick in January, the first since a steady volume decline that began last summer. Atherton had by far the most sales over $7 million out of any San Mateo locale, with 45 between late January 2022 and the same time in 2023.
