Palo Alto homes for sale are once again experiencing strong demand. Looking at Palo Alto single family home sales that closed in August, we can skip the fancy analysis and get a good feeling for the market by simply looking at the raw data in the table below.
Palo Alto Single Family Home Sales Completed In August 2011
|
List Price |
Sale Price |
List-to-Sale % |
Days On Market |
|
$2,850,000 |
$2,637,500 |
-7% |
130 |
|
$2,599,000 |
$2,430,000 |
-7% |
33 |
|
$1,998,000 |
$2,425,000 |
+21% |
8 |
|
$1,699,000 |
$1,750,000 |
+3% |
13 |
|
$1,395,000 |
$1,550,000 |
+11% |
1 |
|
$1,298,000 |
$1,628,000 |
+25% |
7 |
|
$1,099,000 |
$1,099,000 |
- |
8 |
|
$1,098,000 |
$1,380,000 |
+26% |
9 |
(Search the MLS on our web site: www.jsrealproperty.com )
What does this data tell us about Palo Alto home sales in August?
ü Homes priced over $2M are taking relatively longer to sell
ü Homes priced over $2M are not always selling at or above original listing price
ü Homes priced under $2M are selling FAST
ü Homes priced under $2M are selling at or above original listing price
ü Homes priced between $1M and $1.5M are selling fast and WELL ABOVE listing price
All homes are unique, so this data may not apply to any specific home you may be looking to purchase. But knowing this information, if you’re looking at homes in Palo Alto you’ll need to:
ü Monitor the market daily for new listings and price changes
ü Be prepared to submit a competitive offer on short notice
One more interesting piece of data: There are 23 single family homes for sale in Palo Alto MLS today (September 12, 2011), of which 13 have been on the market less than a week and 19 have been on the market less than one month.
Click on www.jsrealproperty.com to search the MLS and to sign up to receive automatic updates by email for Palo Alto homes for sale, Palo Alto luxury homes for sale, Palo Alto estates for sale, and Palo Alto residential lots and land for sale.
For the latest local, regional and national market information, check out our 1 Minute Housing Market Report when you visit www.jsrealproperty.com .
Questions? Drop me a line at john@jsrealproperty.com .
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