Palo Alto, CA Single Family Home Real Estate Stats October 2010
With October ending on Halloween, was the real estate activity a trick or a treat in Palo Alto, CA?
38 Single family homes came on the market in October 2010, the highest priced home was 2.988M and the lowest priced 849,888K Only 10 homes listed in October 2010 were under a Million Dollars, 3 were over 2 Million and 2 were Short Sales. 20 of the 38 homes that went on the market in October 2010 were sold or under contract by the end of October.
The current inventory in Palo Alto, CA is 78 homes. The price range for these homes is 9.988M at the high end and 725K at the low end, only one house for sale in Palo Alto is listed as a short sale.
Of the current inventory of 78 homes, 10 homes are listed at 4M or above. 20 homes are between 4M and 2M in asking price, 36 homes or 46% of the inventory is listed between 2 M and 1M and 12 homes are listed below 1M.
47 homes were scheduled to close escrow in October 2010 and 39 homes completed escrow. The price Range was 2.6M on the high end and 815K on the low end. The average list price was $1,554,667 and the average sale price was $1,571,607. So on average, houses were selling at or slightly above asking price.
48 homes went under contract in October 2010 in Palo Alto CA, with a price range of 2.4M at the high end and 699K at the low end, only 1 Short Sale went under contract in October, 2010
20 home were taken off the market in October, the listing contract expired, was cancelled or the property was withdrawn.
So if you are a buyer, is Palo Alto real estate a trick or a treat? What if you are a seller, is Palo Alto real estate a trick or a treat?
I would love to hear your thoughts!
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