The Palo Alto Real Estate Market Trends have moved towards a balance between sellers and buyers. The city council has begun limiting the previous rampant growth of office space, but I don't hear either home buyers or sellers talking about that. Nearby Menlo Park has some huge new developments starting down the pipeline which are almost certain to affect traffic on local streets, which in turn will probably maintain support for controlling office space growth. I have seen some buyers feel the price differential between Palo Alto and other cities has gotten great enough that they are no longer looking in Palo Alto.
I have seen very strong offers lately suggesting demand has not weakened. The spike for first quarter 2017 is based on about a dozen closed sales and will likely change as more sales close escrow.
Juliana Lee - Silicon Valley Homes For Sale - KW Palo Alto Real Estate Office
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