Not enough inventory, plenty of buyers.
There are currently 27 single family Palo Alto homes for sale up from 16 last week.
There are currently 5 Palo Alto town homes/condos for sale, up from 4 last week.
There are currently 41 pending sales of Palo Alto single family homes, down from 42 last week.
There are currently 7 pending sales of Palo Alto Town homes/Condos, down from 8 last week.
In March of 2013 there were 28 single family Palo Alto homes sold, twice as many as in Feb., ranging in price from $859,000 to $7,650,000. This is a much broader price range than in Feb as well.
In Feb of 2013 there were 12 Palo Alto Town Homes/Condos sold, 3 times as many as in Feb., ranging in price from $430,000 to $1,600,000. This is also a much broader price range than in Feb.
This is a nice increase in single family homes for sale since last week. Some of the increase is due to a hold off in listing because of Easter/Passover. If we can get in the 30's next week I will be happy. I still expect an increase in inventory, but possibly not til 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.