The current market for Silicon Valley new homes for sale strongly favors higher-priced homes. The Los Altos new homes for sale market is very consistent with this trend. There is currently one new house priced at $9,100,000 and one condo priced at $2,988,000 listed for sale. If you look at Los Altos new construction, in 2020 and 2021, there were several projects that had a less than $500 per sq. ft. increase in sales price after building a new house, but there were more that had at least a $500 per sq. ft. increase. After 2021, the number of new houses appears to have dropped off but all had increases in sales price of at least $600 per sq. ft.