According to the San Jose Mercury News, Los Altos was the most expensive town in California for the month of October 2010 with a median sales price of $1.7 million. While I love that Los Altos is always near the top of the state and national ranking as most expensive ZIP code, this time the paper got it wrong.
Los Altos Hills and Atherton both had median sales prices higher than Los Altos in October. It wasn't a matter of being close, both were well past Los Altos.
So, why the differences? I have found that when papers post #1 stats for any town based on sales they often have minimum population sizes. So, Los Altos will make the top of the list with a population over 30,000 but Los Altos Hills won't. Atherton is also left of the list.
The good news is that Los Altos prices are, in fact, increasing and we should continue to see market leading home prices going into 2011.