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Sarah Mitchell
Compass Real Estate · ZIP 94040
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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94040 ZIP Code Housing Market
$2.94Mmedian sale price
What is the 94040 housing market like right now?
The median home sale price in ZIP code 94040 is $2.94M, up 16.1% year-over-year. Homes sell in an average of 10 days with 37 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 94040 ZIP code a buyer's or seller's market?
ZIP code 94040 is currently a seller's market and homes selling in about 10 days. How we determine this →
What are the latest 94040 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $2.94M |
| Median list price | $2.47M |
| Year-over-year price change | +16.1% |
| Average days on market | 10 days |
| Active inventory | 37 listings |
| Sale-to-list price ratio | 105.7% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
The 94040 zip code, located in Los Altos, CA, is currently classified as a seller's market. The median sale price stands at $2.94M, representing a +16.1% change year over year. Homes in this area spend an average of 10 days on the market before going under contract. There are currently 37 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 94040 sits in the Los Altos, CA area, roughly 1 miles from downtown Los Altos. Because home prices are set street by street, this ZIP can move differently from Los Altos's citywide averages. The figures below reflect 94040 specifically — drawn from Redfin transactions, U.S. Census data for its 35,632 residents, and Zillow value estimates.
Homes sold
70
Last 12 weeks
Days on market
10
Fast-moving
Active listings
37
Sale-to-list
105.7%
Above asking
Market trends
What is driving the 94040 housing market?
The 94040 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a seller's market, homes are selling at approximately 105.7% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 94040 have increased +16.1% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 94040 stands at $2.90M, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $4,009 per month. This gives a price-to-rent ratio of approximately 60.2, which indicates that renting may be more cost-effective than buying in the short term, though long-term appreciation could shift that calculus. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 94040?
Population
35,632
Median income
$187,781/yr
Median age
35.6 years
Owner-occupied
36.8%
College grads
78.3%
Avg commute
21.05 min
What is it like living in 94040?
Zip code 94040 is home to approximately 35,632 residents. The median household income is $187,781 per year, which shapes the types of homes and amenities available in the area. With a median age of 35.6 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 36.8% of housing units are owner-occupied, reflecting a predominantly renter-occupied area that may appeal to investors looking for rental income opportunities.
About 78.3% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 21.05 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 94040.
Which public schools serve ZIP 94040?
8 schools tracked · 4,861 students
The largest public schools serving ZIP code 94040 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Mountain View High
Grades 9-12 · 2,202 students
Isaac Newton Graham Middle
Grades 6-8 · 870 students
Amy Imai Elementary
Grades K-5 · 398 students
Gabriela Mistral Elementary
Grades K-5 · 380 students
Springer Elementary
Grades K-6 · 347 students
Benjamin Bubb Elementary
Grades K-5 · 335 students
Mariano Castro Elementary
Grades K-5 · 257 students
Alta Vista High
Grades 9-12 · 72 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 94040
What is the median home price in 94040?
The current median sale price in 94040 is $2.94M, based on recent Redfin transaction data. Prices have changed +16.1% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 94040 a buyer's or seller's market?
The 94040 zip code is currently classified as a seller's market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 94040?
Zip code 94040 has a population of approximately 35,632 residents. The median household income is $187,781 per year. About 36.8% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 94040?
Properties Incorporated provides comprehensive data for 94040 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 94040 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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