Not enough inventory, plenty of buyers.
There are currently 30 single family Palo Alto homes for sale down from 33 last week.
There are currently 11 Palo Alto town homes/condos for sale, up from 7 last week.
There are currently 45 pending sales of Palo Alto single family homes, up from 40 last week.
There are currently 6 pending sales of Palo Alto Town homes/Condos, the same as 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 March 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 decrease in single family homes for sale since last week, but an increase in condos. We have a ways to go to get into the 40's by May which will make me correct in my expectation of an increase in inventory in the late spring/early summer.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.