price / square foot new construction in the peninsula

Asked by Marco, Palo Alto, CA Thu Jan 15, 2009

I am considering the trade off between purchasing or build a new home in the peninsula. Prices for resales, while softening still seem high.
What are current market rates for new construction in this area? Anecdotally, I've heard figures of $400-$500/sf including land for hign end finishes. I am thinking of Woodside specifically. If true, this compares favorably to upwards of $1K/sf in the same area.

Any input appreciated.

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David Tapper, Agent, Burlingame, CA
Thu Jan 15, 2009
One positive other than the cost of money is that you can finally get contractors at reasonable prices.

Even the high end shouldn't be more than $350-$400 a Sq ft. Contractors have slowed down and are happy to have the work. Some I'm sure would do it for less.

Dave Tap Tapper
Cashin Company
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Scott Hayes, Agent, Woodside, CA
Fri Jan 16, 2009
It depends on where in Woodside you are looking for, but if you are looking in central Woodside, you are looking at about $1m +/- per acre plus the 400+ per sq foot depending in finishes. In central Woodside there really are no small lots. Also be aware that building in an area that is controlled by the town of Woodside has it's own special challenges.

If you decide to go this route, you really need to thoroughly vet your plans with the town prior to closing on your lot.
Scott Hayes
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Gene Yakubov…, Agent, Burlingame, CA
Thu Jan 15, 2009
You could get even higher than $500 sq.ft. it all in what you want. Basic construction runs about $ 200-250 sq. ft. that add retaining walls, roads, fences, buitl-in stuff i.e. vacuum sys, etc.. Suggest you before you buy talk to architect or reputable contractor.

Gene Yakubovich
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