Palo Alto home inventory reportThe inventory of Palo Alto homes and condos for sale has been lagging relative to buyer demand in recent months, resulting in multiple offers and over-bidding for many homes.  But in the week from July 13th to July 20th, inventory increased dramatically from 58 to 80 homes on the market (not including those in escrow), a rise of 37%.

Silicon Valley home listing inventories have been light in many communities, as sellers patiently await return of home values and the accompanying equity needed to either sell or refinance.  This past week’s inventory increase will be a test of whether recent improvements in employment and IPO activity are truly creating a sustained housing market recovery.  Late July and August are months when many buyers and sellers traditionally take action prior to the start of a new school year.

As overall sales inventory is rising, the number of Palo Alto homes priced under $1M has increased 50% from 14 at the beginning of July to 21 on the market today (see my report and click through to the MLS listings by clicking here:  Palo Alto Homes And Condos For Sale Under $1M).

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Visit Silicon Valley MLS Search to find listings for properties of all types anywhere in Santa Clara, Mateo, Santa Cruz, Monterey and San Benito Counties.

Contact Usfor help buying or selling Silicon Valley real estate.

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John A. Souerbry & Associates (DRE 01370983) Tel (650) 815-6182  john@jsrealproperty.com

Tags:  Northern California homes and land, Palo Alto homes and condos for sale, Palo Alto real estate listings, Silicon Valley homes and land for sale, Silicon Valley condos for sale, Silicon Valley MLS listings, Northern California real estate

 

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1 Comments on Special Report: Huge Increase In Palo Alto Homes For Sale 7/22/2012

JUL
22
338,333 Points 3 Featured Posts

The inventory on Cape Cod has decreased. We are also seeing multiple offers on many properties.
10:14am • #1


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John Souerbry - Luxury Homes, Land, Investments

Palo Alto, CA

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John A. Souerbry & Associates - Bay Area Real Estate

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