Not enough inventory, plenty of buyers.
There are currently 28 single family Palo Alto homes for sale up from 26 last week.
There are currently 8 Palo Alto town homes/condos for sale, up from 7 last week.
There are currently 23 pending sales of Palo Alto single family homes, up from 19 last week.
There are currently 10 pending sales of Palo Alto Town homes/Condos, up from 9 last week.
In Feb of 2013 there were 14 single family Palo Alto homes sold ranging in price from $1,670,000 to $3,100,000.
In Feb of 2013 there were 4 Palo Alto Town Homes/Condos sold ranging in price from $900,000 to $1,706,000. the trend, few sales, higher prices since Jan.
These numbers are still low, but a little better than last week, so 2 weeks in a row of samll improvement. I was hoping they will be doubled by the end of February and triple by the end of March but as of now that seems unlikely. I still expect an increase in inventory, but possibly not till late spring or early summer till we see a significant difference.
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.