Palo Alto Single Family Home Market Update 05-17-09
As of today this is the snapshot of the Palo Alto single family home market:
138 Active listings
54 Pending sales
What does this mean? The inventory of active listings decreased by 10 while pending sales are increased by 7. . We are now better than a 1 to 3 pending to active ratio which is not too bad. Again, the over 2 million market is a little better with 47 active listings and 15 pending sales which is 4 few active and 5 more pending sales than 2 weeks ago. Under 2 million there are 91 active listings and 41 pending sales. I know for a fact that on Mon there will be 2 less active listings and 2 more pending sales which will make it 89 active and 43 pendings, putting the ration at very close to 1 to 2 which is definitely improving. It is also possible that increase in the stock market is also freeing up some cash which is helping the buyers' down payment problems along with the easing up of down payment requirements. Overall, things are a little better than they were a few months ago, and even better than a few weeks ago with more realistic sellers and more qualified buyers. This is traditionally the busiest selling time so it will be interesting to see if the improvement holds.
Solds will be separate again.
If you are interested in finding the final selling price of any home, anywhere, you can do it on my web site. Go to www.marcymoyer.com and click on Cyberhome Home Valuation. You can then type in any address next to the search icon and get the county records.
If you need anything else please feel free to contact me. I am here to help you.
Marcy Moyer Intero Real Estate
650-619-9285
www.marcymoyer.com
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