Not enough inventory, plenty of buyers.
There are currently 24 single family Palo Alto homes for sale down from 25 last week.
There are currently 7 Palo Alto town homes/condos for sale, down from 8 last week.
There are currently 14 pending sales of Palo Alto single family homes, the same as last week.
There are currently 9 pending sales of Palo Alto Town homes/Condos, up from 8 last week.
In Jan of 2013 there were 14 single family Palo Alto homes sold ranging in price from $1,999,000 to $6,500,000.
In Jan of 2013 there were 7 Palo Alto Town Homes/Condos sold ranging in price from $500,000 to $938,000
These numbers are low, but not really worse than last week. I am hoping they will be doubled by the end of February and triple by the end of March. I am an optimist. However, as this is a holiday week-end I expected a drop in inventory which did not happen so I will take that as good news.
If you would like to search for homes for sale please feel free to visit my website for a custom search.
If you have any questions about buying or selling a home in Palo Alto please feel free to contact me.