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With limited inventory and high interest rates pushing up real estate costs, housing affordability in California hit a 16-year low in the first half of 2023 with San Mateo and Santa Clara counties ranking as the least affordable communities in the state.
Buyers in San Mateo County needed a $504,400 minimum qualifying income to purchase a median-priced home of $2.01 million, and those in Santa Clara County needed to earn at least $451,200 to purchase a median-priced home at $1.8 million, according to the California Association of Realtors.
Yet, that didn’t seem to slow down the sale of high-end properties with eight-digit price tags along the Midpeninsula. In particular, Atherton, with an average home value of $7.28 million, and Woodside, with an average home value of $3.5 million, recorded multiple home sales north of $20 million – including at least four priced at $40 million and over.
Here’s a look at some of the region’s priciest sales in 2023.
