Woodside • Atherton • Portola Valley
National headlines often paint a broad picture of the housing market, but the luxury communities of Woodside, Portola Valley, and Atherton continue to follow their own path. Limited inventory, extraordinary properties, and buyers with long-term confidence in Silicon Valley have created a market that remains remarkably resilient.
Before looking at the numbers, one important point deserves mention. The statistics referenced in this report include only homes sold through the Multiple Listing Service (MLS). In these luxury communities, many properties are sold privately and never appear in public data. Atherton provides a perfect example. During the first half of 2026, approximately 28% of all home sales occurred off market, meaning more than one in four transactions are absent from traditional market reports. Similar private activity occurs in both Woodside and Portola Valley, making local expertise especially valuable when interpreting market conditions.
A Snapshot of the First Half of 2026
The table below summarizes MLS activity for single-family homes during the first six months of 2026.
Community | Average MLS Sale Price | MLS Sales | New MLS Listings |
Woodside | $7,052,199 | 43 | 84 |
Portola Valley | $4,785,402 | 33 | 50 |
Atherton | $13,354,589 | 43 | 65 |
Note: Statistics shown above include only single-family homes sold through the MLS during the first half of 2026. Many luxury homes in these communities are sold privately and are therefore not reflected in the published data.
Woodside Continues to Gain Momentum
Woodside recorded the strongest average sale price of the past four years during the first half of 2026, with the average MLS sale price reaching $7,052,199. At the same time, the number of MLS-reported homes selling above $10 million increased from six during the first half of 2025 to nine this year, underscoring continued demand for exceptional luxury properties.
Figure 1. Average MLS sale price of single-family homes in Woodside, comparing 2023 through the first half of 2026.
While fewer homes have sold so far this year than in the full prior-year periods, new listings also remain limited. Through June 30, 2026, 84 new single-family listings came to the MLS in Woodside, reinforcing how constrained supply continues to influence the market. When well-prepared homes in desirable locations are introduced, buyer attention remains strong.
Woodside at a Glance
- Average MLS Sale Price: $7,052,199
- MLS Sales: 43
- New MLS Listings: 84
- MLS Sales Above $10 Million: 9, up from 6 during the first half of 2025
Atherton Remains One of the Nation's Premier Luxury Markets
Atherton continues to demonstrate why it consistently ranks among the country's most prestigious residential communities. The average MLS sale price climbed to $13,354,589 during the first half of 2026, the highest level in the four-year comparison. Publicly reported MLS sales above $10 million also increased from 20 during the first half of last year to 24 this year.
Figure 2. Average MLS sale price of single-family homes in Atherton, comparing 2023 through the first half of 2026.
Those figures still understate actual activity because many of Atherton's most significant sales occur privately. With approximately 28% of first-half sales occurring off market, public data captures only part of the story. The continued strength of the stock market, particularly among technology and AI-related companies, has also helped support demand at the highest end of the market, where many buyers continue to purchase with substantial liquidity generated from equity compensation, business success, and long-term confidence in Silicon Valley.
Atherton at a Glance
- Average MLS Sale Price: $13,354,589
- MLS Sales: 43
- New MLS Listings: 65
- MLS Sales Above $10 Million: 24, up from 20 during the first half of 2025
- Approximately 28% of all first-half home sales occurred off market
Portola Valley Reflects a Different Market Dynamic
Unlike Woodside and Atherton, Portola Valley recorded a lower average MLS sale price during the first half of 2026 compared with last year. That does not necessarily indicate a weaker market. In communities with a relatively small number of annual sales, average prices can shift significantly depending on the size, location, acreage, condition, and uniqueness of the homes that happen to sell during a given period.
Figure 3. Average MLS sale price of single-family homes in Portola Valley, comparing 2023 through the first half of 2026.
The number of MLS-reported homes selling above $10 million declined from two during the first half of 2025 (one that was sold by Helen & Brad Miller) to one this year (sold by Helen & Brad Miller), but luxury demand for premier Portola Valley properties remains steady whenever exceptional homes become available. With only 50 new MLS listings during the first half of 2026, supply remains limited, and each individual sale can have an outsized effect on the overall averages.
Portola Valley at a Glance
- Average MLS Sale Price: $4,785,402
- MLS Sales: 33
- New MLS Listings: 50
- MLS Sales Above $10 Million: 1 (sold by Helen & Brad Miller)
Inventory Continues to Shape the Market
One of the clearest themes across all three communities remains the limited supply of homes coming to market. Through June 30, 2026, the MLS recorded 84 new single-family listings in Woodside, 65 in Atherton, and 50 in Portola Valley. In markets where buyers are highly specific about location, setting, architecture, views, privacy, and condition, limited inventory continues to play a major role in pricing and negotiation.
This does not mean every home sells quickly or above expectations. Buyers have become increasingly selective, especially for properties requiring substantial updates or homes priced ahead of the market. However, thoughtfully prepared homes in desirable locations continue to attract strong interest.
What Buyers Should Take Away
Buyers looking only at public MLS data may be seeing only part of the available market. Private transactions remain an important part of the luxury landscape, particularly in Atherton, and off-market opportunities can materially change the picture of supply and demand.
The most successful buyers continue to be well prepared, decisive, and guided by a clear understanding of value. Exceptional homes still command attention, and competition remains strong when a property offers a compelling combination of location, quality, privacy, and long-term appeal.
What Sellers Should Take Away
The first half of 2026 reinforced an important lesson for luxury homeowners: demand remains strong, but preparation matters. Limited inventory continues to work in sellers' favor, yet today's buyers are sophisticated and well informed.
Homes that are thoughtfully prepared before coming to market, professionally photographed, strategically priced, and widely exposed continue to achieve the strongest results. At the highest price points, strong financial markets and continued growth within technology and AI-related companies have helped sustain buyer confidence.
Looking Ahead
While no market can be predicted with certainty, the underlying fundamentals supporting Woodside, Portola Valley, and Atherton remain firmly in place. Inventory continues to be limited, buyer demand remains healthy, and the Peninsula continues to attract those seeking an exceptional quality of life close to the innovation economy that drives Silicon Valley.
Most importantly, the numbers tell only part of the story. In markets where many luxury homes change hands privately, understanding both the public and off-market landscape provides a more complete picture of current opportunities. Whether buying or selling, informed decisions begin with local knowledge that extends well beyond the published statistics.
