The Palo Alto home sales report for June 2013 reflects the improving market throughout Silicon Valley and consistently strong demand for Palo Alto housing, both single family homes and condos. Homes priced below $5M are moving briskly and price escalations are expected throughout the remainder of the summer.
Although the list at the end of this report includes the listing price and final sale price of the homes that sold in June, statistics regarding homes selling above or below their listing price or the difference between listing and sale prices have become meaningless. Listing brokers have historically urged their sellers to ask for slightly higher than the estimated market value in hope of finding a buyer with the desire and ability to pay a little bit more. But now there is a trend among brokers to urge their sellers to list their property below market value to attract more offers and create a bidding war. This selling tactic usually surfaces in a “seller’s market” when demand is strong. The result is that there is no way to know if a home was listed above or below its market value and any statistics based on current listing prices or the difference between listing and sale prices are worthless.
Of the 43 homes that closed escrow in June, only five were on the market longer than 30 days and 23 sold in less than 10 days.
July 1st Palo Alto Market Snapshot:
- Homes active on the market: 32 (click to view > Palo Alto homes for sale)
- Short sale homes for sale: 1
- REO homes for sale: 0
- Price range of active listings: $718,888 - $23,000,000
- Homes now in escrow: 38
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Palo Alto Home Sales Report: Escrow Closed June 2013
LOCATION | BED/BATH | SQ. FEET | LIST PRICE | SALE PRICE |
55 WAVERLEY OAKS | 3/3|1 | 3,743 | $5,750,000 | $5,750,000 |
619 TENNYSON AVENUE | 6/5|0 | 4,130 | $4,500,000 | $4,550,000 |
929 PARADISE WAY | 5/4|0 | 4,400 | $3,749,000 | $3,650,000 |
416 EL VERANO AVENUE | 5/4|0 | 3,310 | $3,298,000 | $3,550,000 |
875 MOCKINGBIRD LANE | 4/3|0 | 3,300 | $3,295,000 | $3,450,000 |
1020 CHANNING AVENUE | 5/3|0 | 3,501 | $3,195,000 | $3,195,000 |
309 EMERSON STREET | 3/2|1 | 2,000 | $2,700,000 | $2,700,000 |
2175 EMERSON STREET | 2/2|0 | 1,957 | $2,395,000 | $2,552,000 |
840 ALLARDICE WAY | 7/3|1 | 3,040 | $2,300,000 | $2,425,000 |
1830 NEWELL ROAD | 4/2|1 | 1,965 | $2,295,088 | $2,260,088 |
2301 BRYANT STREET | 3/2|0 | 1,710 | $2,190,000 | $2,540,000 |
776 BARRON AVENUE | 3/2|0 | 1,781 | $1,798,000 | $1,970,000 |
551 MAYBELL AVENUE | 3/2|0 | 1,723 | $1,598,000 | $1,750,000 |
2154 SAINT FRANCIS DRIVE | 3/2|0 | 1,714 | $1,498,000 | $1,815,000 |
2740 KIPLING STREET | 3/2|0 | 1,358 | $1,498,000 | $1,810,000 |
1820 BRET HARTE STREET | 3/2|0 | 1,381 | $1,498,000 | $1,927,000 |
755 FOREST AVENUE | 3/2|0 | 1,256 | $1,495,000 | $1,658,000 |
621 ALVARADO ROW | 4/2|1 | 2,171 | $1,475,000 | $1,810,000 |
3819 MAGNOLIA DRIVE | 2/1|1 | 1,361 | $1,475,000 | $1,767,000 |
4206 RICKEYS WAY,#N | 3/2|1 | 2,081 | $1,448,000 | $1,521,000 |
1919 IVY LANE | 4/2|0 | 1,750 | $1,398,000 | $1,620,000 |
2916 BRYANT STREET | 2/1|0 | 1,230 | $1,398,000 | $1,901,000 |
140 KELLOGG AVENUE | 2/2|0 | 1,248 | $1,350,000 | $1,545,000 |
2069 EDGEWOOD DRIVE | 3/2|0 | 1,422 | $1,349,000 | $1,300,000 |
808 RICHARDSON COURT | 3/2|0 | 1,584 | $1,299,000 | $1,865,000 |
272 CAROLINA LANE | 4/2|0 | 1,635 | $1,295,000 | $1,450,000 |
195 BRYANT STREET,#A | 2/2|0 | 1,574 | $1,225,000 | $1,399,980 |
185 COWPER STREET | 3/1|0 | 1,288 | $1,200,000 | $1,550,000 |
4206 RICKEY'S WAY,#J | 3/3|0 | 1,554 | $1,199,888 | $1,250,000 |
555 BYRON STREET,#306 | 3/2|1 | 1,825 | $1,198,000 | $1,175,000 |
4264 NEWBERRY COURT | 3/1|0 | 1,100 | $1,150,000 | $1,350,000 |
365 WEST CHARLESTON ROAD | 2/2|0 | 1,045 | $1,099,000 | $1,141,400 |
1180 ALMANOR LANE | 3/3|0 | 1,716 | $1,098,000 | $1,275,000 |
4238 RICKEYS WAY,#R | 2/2|1 | 1,766 | $1,039,000 | $1,150,000 |
4173 EL CAMINO REAL ,#22 | 2/2|1 | 1,375 | $895,000 | $1,060,000 |
110 GREENMEADOW WAY | 2/2|0 | 1,131 | $775,000 | $1,000,000 |
635 LYTTON AVENUE,#6 | 2/2|0 | 1,139 | $765,000 | $765,000 |
2585 PARK BOULEVARD,#Z204 | 2/2|1 | 1,230 | $699,000 | $795,000 |
2452 W BAYSHORE ROAD,#5 | 3/2|0 | 1,134 | $699,000 | $700,000 |
153 S CALIFORNIA AVE, #F217 | 2/1|1 | 1,247 | $699,000 | $775,000 |
3172 MIDDLEFIELD ROAD | 2/1|1 | 998 | $650,000 | $671,000 |
280 WAVERLEY STREET | 2/1|0 | 865 | $595,000 | $656,000 |
4250 EL CAMINO REAL ,#207 | 1/1|0 | 885 | $520,888 | $535,000 |
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