Palo Alto Ca Real Estate Market Update 6/15/2013

By
Real Estate Agent with eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales B.R.E. 01191194
https://activerain.com/droplet/Xdg

As a Palo Alto Real Estate Agent I am always being asked, "How's the market in Palo Alto?" The answer is simple:

Not enough inventory, plenty of buyers.

There are currently 38 single family Palo Alto homes for sale up from 34 last week.

There are currently 7 Palo Alto town homes/condos for sale, the same as last week.

There are currently 26 pending sales of Palo Alto single family homes, down from 30 last week.

There are currently 11 pending sales of Palo Alto Town homes/Condos, down from 10 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. 

We had a nice little increase in inventory this week with a decrease in pending sales. I believe this trend will continue and still hope that in June and July may see weekly homes in the 40's as more sellers seem to coming into the market. Right now at 38 single family homes for sale we are so close to 40 I think we may get there by next week. Now 40 homes for sale is still a strong seller's market, but it is not a ridiculous seller's market. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market. As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation. If you would like to search for homes for sale please feel free to visit my website for a custom search.

http://marcymoyer.com/OnlineSearchRequest2?operation=choose_mls&timestamp=1359953266454

If you have any questions about buying or selling a home in Palo Alto please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

 
Posted by

Marcy Moyer eXp Realty of California  Specializing in Probate and Trust Sales, and Rental Investment Properties

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
California Santa Clara County Palo Alto
Groups:
Keller Williams 'Rainers
Posts to Localism
Club Chaos
Market Reports
Condo Benefits
Tags:
palo alto homes for sale
palo alto real estate market
palo alto pending sales
palo alto real estate agent
palo alto real estate specialist

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
468,350

Marcy Moyer

Probate, Trust, and Investment Specialist
Ask me a question
*
*
*
*
Spam prevention

Additional Information