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Palo Alto Ca Real Estate Market Update June 23, 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 42 single family Palo Alto homes for sale up from 38 last week.
There are currently 7 Palo Alto town homes/condos for sale, the same as last week.
There are currently 29 pending sales of Palo Alto single family homes, up from 26 last week.
There are currently 6 pending sales of Palo Alto Town homes/Condos, down 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. 
We had a nice little increase in inventory this week with an increase in pending sales as well. I believe this trend will continue and we finally hit 42 single family homes for sale as more sellers seem to coming into the market. Now ... more

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