Woodside, Calif. is officially the hottest luxury real estate market in the U.S., according to a new index created by realty firm Coldwell Banker Previews International.
To compare different markets, the index used figures like average and median sale prices, volume, and sales in units.
Woodside has long been home to wealthy venture capitalists and tech entrepreneurs, in part because its secluded hillside location offers residents a good amount of privacy. Larry Ellison’s lavish Japanese estate is located here, as is Steve Jobs’ historic mansion.
Like many other cities in Silicon Valley, the real estate market in Woodside is notoriously inflated. According to CNBC, one of the city’s cheapest homes is a two-bedroom cottage situated on less than an acre of property. It’s listed for $US949,000.
But Woodside wasn’t the only ritzy Silicon Valley city to make an appearance on Coldwell Banker’s ranking. Portola Valley, Woodside’s neighbour to the south, came in third, while nearby Hillsborough came in fourth. Also ranking in the top 20 were Atherton, coming in tenth, and Los Altos Hills, in the seventeenth spot.
Here’s the full ranking of luxury real estate markets in the U.S.: