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Palo Alto Ca Real Estate Market Update 6/9/2013
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 34 single family Palo Alto homes for sale up from 27 last week.
There are currently 7 Palo Alto town homes/condos for sale, up from 4 last week.
There are currently 30 pending sales of Palo Alto single family homes, down from 37 last week.
There are currently 10 pending sales of Palo Alto Town homes/Condos, down from 15 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. 
This week the lowest price listing of a single family home is $1,099,000 which is higher than the lowest priced sale in April. Since most homes get multiple offers and sell higher than list price it is reasonable to expect that the lowest priced ... more

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