349 Walsh Road went on the MLS February 1 at $57,500,000. On April 18 the price came down to $49,680,000, a $7.82 million cut, about 13.6 percent. It has not moved since. MLSListings had it at 271 days on site this morning, and it is still the most expensive active listing in Atherton.The house is called Villa Anahid. Brand new, built 2025, three levels above ground with an elevator, five bedrooms, six full baths and two half baths. The MLS has it at 11,968 square feet, and the listing website says that figure includes the garage. There's also a 1,190-square-foot ADU with two bedrooms, a 56-foot pool, a theater for nine and solar with four Powerwalls. The lot is 44,842 square feet on the Alameda to 280 side, Las Lomitas schools. Brent and Mary Gullixson at Compass have it. MLS ML82027150.At today's price that's $4,151 a foot of house on the MLS number, or about $1,108 a foot of land. At the original ask it was $4,804 a foot.The history on this parcel is worth a look. The county shows a $4.5 million sale in July 2020. In October 2022 the property was listed at $32,500,000, and that listing was withdrawn in August 2023. Now the finished house asks $49.68 million. The 2025 tax roll had it at $15,679,955 with a bill of $99,826, which reads like a partial assessment from the construction years. A buyer gets reassessed at the purchase price. At the 1 percent base rate alone, $49.68 million is $496,800 a year before local add-ons.The other end of the board moved a lot faster. 27 Catalpa Drive in Lindenwood listed October 18 at $8,950,000 and showed pending by October 29. Eleven days. I covered it October 26. A 1961 mid-century, 2,815 square feet, pool and cabana, on 40,469 square feet, with remarks that openly mention new construction. That's about $221 a foot of land. Tom LeMieux and Alicia Young at Compass. MLS ML82064972.On the same road, 333 Walsh at $9,850,000 also shows pending.In the middle sits 368 Camino Al Lago, a 2022 contemporary that came on September 10 at $12,998,000 and hasn't changed price in 50 days. The county shows it bought for $9,675,000 in late 2022, so the ask is about 34 percent over that. Watch the square footage. The MLS says 4,286 with four bedrooms. The remarks say 5,527 square feet and five bedrooms counting the guest house. Per foot that's $3,033 on the MLS number or $2,352 on the remarks number, so get it measured. Lot is 12,075 square feet, and the 2025 tax bill was $111,857. Nathalie D.S.A at Christie's Sereno. MLS ML82060676.Coldwell Banker's Atherton page this morning had 28 listings, 13 of them pending or contingent. On Tuesday's count it was 11 of 24.Altos Research's Friday pull for Atherton (October 30) has 21 single-family actives, median list $10,500,000, median new listing $9,950,000 and $2,060 a foot. The Market Action Index is 42, up from 38 a month ago, which Altos calls a slight seller's advantage. Median days on market is 28 and the average is 106. One listing at 271 days does a lot to an average on a 21-house board. Altos also shows 14 percent of actives with a price decrease.Freddie Mac's 30-year average came out Thursday at 7.24 percent, down from 7.32 a week earlier. None of these three would be a conforming loan, and jumbo pricing runs on its own sheet.If you're touring this weekend, 28 San Benito, the $7.95 million new build I covered October 15, is still active and has an open house Saturday, October 31, 1:30 to 4:30.I've done SB9 deals in Atherton. On near-acre lots like Catalpa, a split can change the land math, but it depends on the parcel, the town's current standards and the owner-occupancy affidavit. Talk to planning staff before you price a split into an offer. General information only, and have an attorney review anything recorded.Michael Williams is a Bay Area agent with Golden Gate Luxury (Turbohome Inc). Seventeen years in, more than $250M closed, formerly #1 at Flyhomes and Aalto, DRE #01780513. Golden Gate Luxury is not affiliated with Golden Gate Sotheby's.General market commentary only. Nothing here is legal, tax, or financial advice. Listing details, sale records, and market stats change; verify current MLS and public records before acting on any of it.Also on Medium: https://medium.com/@michael_30207/athertons-49-68-million-listing-is-on-day-271-after-a-7-82-million-cut-in-april-95e32f3c3258
Michael Williams
Luxury Specialist
Area served: Sausalito, Marin County, CA, Menlo Park, CA, San Francisco, CA
Expertise: First-Time Buyer, Luxury, Zoning Knowledge