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Palo Alto Ca Real Estate Market Update 5/5/2013
As a Palo Alto Real Estate Agent I am always being asked, "How's the market in Palo Alto?" The answer is simple:
Not enough inventory, plenty of buyers.
There are currently 26 single family Palo Alto homes for sale up from 24 last week.
There are currently 8 Palo Alto town homes/condos for sale, up from 5 last week.
There are currently 41 pending sales of Palo Alto single family homes, down from 44 last week.
There are currently 12 pending sales of Palo Alto Town homes/Condos, up from 11 last week.
In April of 2013 there were 46 single family Palo Alto homes sold, about 50% more than in March. The prices ranged from $1,050,000 to $10,000,000. No homes under a million is significant.
In April of 2013 there were 9 Palo Alto Town Homes/Condos sold, down 3 from March.  The prices ranged from $785,000 to $1,350,000. This is a high starting price point for condos as well. 

The inventory is just slighly better than last week.  We have a long ways to go to get into the 40's by May which makes me believe my expectation of an increase in inventory in the late spring/early summer may not happen. If you ... more

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