Hillsborough

Parrot Drive

An extremely sparsely-populated neighborhood consisting of a handful of homes and considered a “hidden gem” by many, Parrot Drive is a place in which sales are very rare. In 2020 — a banner year for Parrot Drive activity — two homes sold in the community. Tesla founder Elon Musk. Once listed for as much as $100 million (by a previous owner), Musk purchased the 110-year-old, 16,000-square-foot “Guigne Court” for just shy of $24 million in 2017, then listed the 47-acre estate for $35 million this past spring, only to remove it from the market in November.

Sales are rare in the Parrott Drive neighborhood, leading to wildly fluctuating yearly data that ultimately tells us little about this sparsely-populated residential area. At no time was that more true than 2021 to 2022. Last year, we noted that Parrott Drive had unexpectedly become Hillsborough’s most expensive neighborhood, with an average home value of $12.93 million. That figure included the $30 million sale of Elon Musk’s 16,000-square-foot home. In 2022, without any “generational” sales, Parrott Drive returned to more familiar territory: an average home value of $3.38 million, based on a single sale that is more in line with the sorts of activity this neighborhood is used to.

Pricing data based on Single-family homes