West Silicon Valley Market Update by Deniece Watkins, Realtor, ePro, SRES 650-917-7970
Have you ever taken a look at your own child on a daily basis and not noticed big changes, but then looked at that same child in a photo year over year and noticed all of the changes?
Sometimes, taking a look at the market over a little more time allows us to see a change that is more defined also.
Below please find the results of our local markets today, as compared to May 31st, 2007. The most interesting column is the "Change Since 5/31/2007" column. (I have included the full chart from May 31st just below today's chart).
Notable changes from my point of view are: 1) Much less inventory if area has strong schools.
2) High end sales are seeing less $4 Million + sales as were happening in the beginning of the year.
Examples:
Los Altos Hills Pending Sales in May $10,500,000 and $7,100,000. Los Altos Hill Pending Sales today, highest $4,488,000.
Menlo Park Pending in May $4,495,000. Menlo Park Pending today, highest $2,775,000.
Palo Alto Pending in May $7,000,000. Palo Alto Pending today, highest $3,395,000.
Portola Valley Pending in May $7,650,000. Portola Valley Pending today, highest $3,295,000.
3) Townhome values continue to grow with higher prices at the entry level.
Examples:
Least expensive pending sale in Sunnyvale in May $397,000. Least expensive pending sale in Sunnyvale today, $408,000.
Least expensive pending sale in Mountain View in May $359,000. Least expensive pending sale in Mountain View today, $399,000.
Information extrapolated from reil.com deemed reliable, not guaranteed.
| 2007 | Change since | |||
| Los Altos | 8/6/2007 | 5/31/2007 | Lowest Price | Highest Price |
| Active | 31 | -11 | $ 1,388,800 | $ 7,650,000 |
| Pending Show | 1 | -8 | $ 1,399,000 | |
| Pending Release | 1 | 1 | $ 1,738,000 | |
| Pending | 20 | -16 | $ 1,195,000 | $ 3,695,000 |
| Total Pending | 22 | -23 | ||
| Total Listings | 53 | -34 | ||
| Percent Pending | 42% | |||
| Change since | ||||
| Los Altos Hills | 8/6/2007 | 5/31/2007 | Lowest Price | Highest Price |
| Active | 47 | 0 | $ 1,658,000 | $ 15,000,000 |
| Pending Show | 4 | 0 | $ 2,098,800 | $ 4,488,000 |
| Pending Release | 0 | -1 | ||
| Pending | 5 | -5 | $ 2,095,000 | $ 4,195,000 |
| Total Pending | 9 | -6 | ||
| Total Listings | 56 | -6 | ||
| Percent Pending | 16% | |||
| Change since | ||||
| Menlo Park | 8/6/2007 | 5/31/2007 | Lowest Price | Highest Price |
| Active | 65 | -18 | $ 519,900 | $ 4,995,000 |
| Pending Show | 4 | -4 | $ 799,000 | $ 1,949,000 |
| Pending Release | 1 | 1 | $ 1,224,500 | |
| Pending | 24 | -17 | $ 331,150 | $ 2,775,000 |
| Total Pending | 29 | -20 | ||
| Total Listings | 94 | -38 | ||
| Percent Pending | 31% | |||
| Change since | ||||
| Mtn View | 8/6/2007 | 5/31/2007 | Lowest Price | Highest Price |
| Active | 20 | -32 | $ 634,000 | $ 1,699,000 |
| Pending Show | 5 | -5 | $ 799,000 | $ 1,499,000 |
| Pending Release | 0 | -2 | ||
| Pending | 23 | -5 | $ 674,900 | $ 1,825,000 |
| Total Pending | 28 | -12 | ||
| Total Listings | 48 | -44 | ||
| Percent Pending | 58% | |||
| Change since | ||||
| MV Townhomes | 8/6/2007 | 5/31/2007 | Lowest Price | Highest Price |
| Active | 46 | -6 | $ 349,000 | $ 1,125,000 |
| Pending Show | 8 | -2 | $ 474,450 | $ 719,000 |
| Pending Release | 0 | -2 | ||
| Pending | 18 | -10 | $ 399,000 | $ 1,099,000 |
| Total Pending | 26 | -14 | ||
| Total Listings | 72 | -20 | ||
| Percent Pending | 36% | |||
| Change since | ||||
| Palo Alto | 8/6/2007 | 5/31/2007 | Lowest Price | Highest Price |
| Active | 32 | -23 | $ 649,000 | $ 7,985,000 |
| Pending Show | 7 | 2 | $ 898,000 | $ 3,500,000 |
| Pending Release | 1 | 1 | $ 2,398,000 | |
| Pending | 32 | -10 | $ 1,099,000 | $ 3,395,000 |
| Total Pending | 40 | -7 | ||
| Total Listings | 72 | -30 | ||
| Percent Pending | 56% | |||
| Change since | ||||
| Portola Valley | 8/6/2007 | 5/31/2007 | Lowest Price | Highest Price |
| Active | 15 | -14 | $ 1,475,000 | $ 6,995,000 |
| Pending Show | 2 | 2 | $ 1,899,000 | $ 2,995,000 |
| Pending Release | 0 | 0 | ||
| Pending | 5 | -4 | $ 1,485,000 | $ 3,295,000 |
| Total Pending | 7 | -2 | ||
| Total Listings | 22 | -16 | ||
| Percent Pending | 32% | |||
| Change since | ||||
| Sunnyvale | 8/6/2007 | 5/31/2007 | Lowest Price | Highest Price |
| Active | 108 | 24 | $ 539,000 | $ 1,649,000 |
| Pending Show | 21 | -4 | $ 495,000 | $ 1,368,988 |
| Pending Release | 3 | 1 | $ 635,000 | $ 788,888 |
| Pending | 42 | -9 | $ 599,900 | $ 1,398,000 |
| Total Pending | 66 | -12 | ||
| Total Listings | 174 | 12 | ||
| Percent Pending | 38% | |||
| Change since | ||||
| SV Townhomes | 8/6/2007 | 5/31/2007 | Lowest Price | Highest Price |
| Active | 58 | -4 | $ 319,950 | $ 859,000 |
| Pending Show | 10 | -6 | $ 409,950 | $ 749,000 |
| Pending Release | 7 | 0 | $ 485,000 | $ 769,000 |
| Pending | 27 | 4 | $ 408,000 | $ 849,888 |
| Total Pending | 44 | -2 | ||
| Total Listings | 102 | -6 | ||
| Percent Pending | 43% |
| 2007 | Change since | |||
| Los Altos | 5/31/2007 | 5/15/2007 | Lowest Price | Highest Price |
| Active | 42 | -11 | $ 1,349,000 | $ 23,900,000 |
| Pending Show | 9 | -4 | $ 1,399,000 | $ 2,750,000 |
| Pending Release | 0 | 0 | ||
| Pending | 36 | 8 | $ 1,079,000 | $ 3,685,000 |
| Total Pending | 45 | 4 | ||
| Total Listings | 87 | -7 | ||
| Percent Pending | 52% | |||
| Change since | ||||
| Los Altos Hills | 5/31/2007 | 5/15/2007 | Lowest Price | Highest Price |
| Active | 47 | -1 | $ 1,875,000 | $ 13,450,000 |
| Pending Show | 4 | 2 | $ 2,149,900 | $ 10,500,000 |
| Pending Release | 1 | 0 | $ 2,095,000 | |
| Pending | 10 | 5 | $ 1,690,000 | $ 7,100,000 |
| Total Pending | 15 | 7 | ||
| Total Listings | 62 | 6 | ||
| Percent Pending | 24% | |||
| Change since | ||||
| Menlo Park | 5/31/2007 | 5/15/2007 | Lowest Price | Highest Price |
| Active | 83 | -6 | $ 579,000 | $ 3,895,000 |
| Pending Show | 8 | 0 | $ 599,000 | $ 1,169,000 |
| Pending Release | 0 | -1 | ||
| Pending | 41 | 1 | $ 331,150 | $ 4,495,000 |
| Total Pending | 49 | 0 | ||
| Total Listings | 132 | -6 | ||
| Percent Pending | 37% | |||
| Change since | ||||
| Mtn View | 5/31/2007 | 5/15/2007 | Lowest Price | Highest Price |
| Active | 28 | -11 | $ 569,900 | $ 1,788,000 |
| Pending Show | 6 | -3 | $ 839,000 | $ 949,000 |
| Pending Release | 0 | -1 | ||
| Pending | 23 | -5 | $ 674,900 | $ 1,495,000 |
| Total Pending | 29 | -9 | ||
| Total Listings | 57 | -20 | ||
| Percent Pending | 51% | |||
| Change since | ||||
| MV Townhomes | 5/31/2007 | 5/15/2007 | Lowest Price | Highest Price |
| Active | 52 | 13 | $ 325,000 | $ 1,125,000 |
| Pending Show | 10 | 1 | $ 379,888 | $ 729,000 |
| Pending Release | 2 | 1 | $ 449,000 | $ 599,000 |
| Pending | 28 | 0 | $ 359,000 | $ 1,065,000 |
| Total Pending | 40 | 2 | ||
| Total Listings | 92 | 15 | ||
| Percent Pending | 43% | |||
| Change since | ||||
| Palo Alto | 5/31/2007 | 5/15/2007 | Lowest Price | Highest Price |
| Active | 55 | 9 | $ 725,000 | $ 8,580,000 |
| Pending Show | 5 | 0 | $ 898,000 | $ 3,500,000 |
| Pending Release | 0 | 0 | ||
| Pending | 42 | -7 | $ 689,000 | $ 7,000,000 |
| Total Pending | 47 | -7 | ||
| Total Listings | 102 | 2 | ||
| Percent Pending | 46% | |||
| Change since | ||||
| Portola Valley | 5/31/2007 | 5/15/2007 | Lowest Price | Highest Price |
| Active | 29 | 2 | $ 995,000 | $ 8,480,000 |
| Pending Show | 0 | -1 | ||
| Pending Release | 0 | 0 | ||
| Pending | 9 | 3 | $ 1,049,000 | $ 7,650,000 |
| Total Pending | 9 | 2 | ||
| Total Listings | 38 | 4 | ||
| Percent Pending | 24% | |||
| Change since | ||||
| Sunnyvale | 5/31/2007 | 5/15/2007 | Lowest Price | Highest Price |
| Active | 84 | 5 | $ 550,000 | $ 1,699,500 |
| Pending Show | 25 | 5 | $ 529,900 | $ 1,649,500 |
| Pending Release | 2 | 1 | $ 635,000 | $ 749,000 |
| Pending | 51 | 1 | $ 619,000 | $ 1,499,000 |
| Total Pending | 78 | 7 | ||
| Total Listings | 162 | 12 | ||
| Percent Pending | 48% | |||
| Change since | ||||
| SV Townhomes | 5/31/2007 | 5/15/2007 | Lowest Price | Highest Price |
| Active | 62 | 3 | $ 336,000 | $ 799,000 |
| Pending Show | 16 | 4 | $ 397,500 | $ 869,500 |
| Pending Release | 7 | 3 | $ 485,000 | $ 769,000 |
| Pending | 23 | 4 | $ 439,000 | $ 756,975 |
| Total Pending | 46 | 11 | ||
| Total Listings | 108 | 14 | ||
| Percent Pending | 43% |
Deniece Watkins, Realtor, ePro, SRES
International President's Circle
www.DSoldOurHome.com
Coldwell Banker - Downtown Los Altos
650-917-7970 Direct
650-483-2055 Cell
DSoldOurHome@gmail.com
Please mention my name and number to anyone thinking of buying or selling a home.
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