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Palo Alto Ca Real Estate Market Update 10/14/2013
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 37 single family Palo Alto homes for sale, up from 30 last week.
There are currently 5 Palo Alto town homes/condos for sale, down from last week.
There are currently 48 pending sales of Palo Alto single family homes, up from 37 last week.
There are currently 10 pending sales of Palo Alto Town homes/Condos, the same as last week.
In Sept of 2013 there were 29 single family Palo Alto homes sold, 15 less than in Aug. The big drop in solds is a reflection of the decrease in inventory that always happens in August. The prices ranged from $595,000 to $4,325,000. This is the first sale under a million dollars since last spring. The $595,000 sale was a weird anomoly of a tear down house on a small lot on Alma. The next lowest price house was $1,070,00.
In August of 2013 there were 7 Palo Alto Town Homes/Condos sold, the same as August.  The prices ranged from $900,000 to $1,650,000. This is a very a high starting price point ... more

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