Not enough inventory, plenty of buyers.
There are currently 29 single family Palo Alto homes for sale up from 26 last week.
There are currently 12 Palo Alto town homes/condos for sale, up from 8 last week.
There are currently 36 pending sales of Palo Alto single family homes, down from 41 last week.
There are currently 12 pending sales of Palo Alto Town homes/Condos, the same as last week.
In April of 2013 there were 46 single family Palo Alto homes sold, about 50% more than in March. The prices ranged from $1,050,000 to $10,000,000. No homes under a million is significant.
In April of 2013 there were 9 Palo Alto Town Homes/Condos sold, down 3 from March. The prices ranged from $785,000 to $1,350,000. This is a high starting price point for condos as well.
The inventory is just slighly better than last week, for the second week in a row which is a good sign. We have a long ways to go to get into the 40's by May which makes me believe my expectation of a significant increase in inventory in the late spring/early summer may not happen. 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.