Not enough inventory, plenty of buyers.
There are currently 26 single family Palo Alto homes for sale up from 18 last week.
There are currently 5 Palo Alto town homes/condos for sale, down from 5 last week.
There are currently 32 pending sales of Palo Alto single family homes, up from 31 last week.
There are currently 11 pending sales of Palo Alto Town homes/Condos, the same as 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 better numbers of single family homes for sale than last week. Let's hope this trend continues. 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.