Palo Alto Ca Real Estate Market Update 10/14/2013

Real Estate Agent with eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales B.R.E. 01191194

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 37 single family Palo Alto homes for sale, up from 30 last week.

There are currently 5 Palo Alto town homes/condos for sale, down from last week.

There are currently 48 pending sales of Palo Alto single family homes, up from 37 last week.

There are currently 10 pending sales of Palo Alto Town homes/Condos, the same as last week.

In Sept of 2013 there were 29 single family Palo Alto homes sold, 15 less than in Aug. The big drop in solds is a reflection of the decrease in inventory that always happens in August. The prices ranged from $595,000 to $4,325,000. This is the first sale under a million dollars since last spring. The $595,000 sale was a weird anomoly of a tear down house on a small lot on Alma. The next lowest price house was $1,070,00.

In August of 2013 there were 7 Palo Alto Town Homes/Condos sold, the same as August.  The prices ranged from $900,000 to $1,650,000. This is a very a high starting price point for condos in Palo Alto, but none of the condos in the traditionally lower priced complexes were for sale.

 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.  While right now the number of pending sales are higher than last week and the active listings are down.  Well the government did shut down, but is not having a effect on the market this week. I am more concerned with what could happen if we default on our debt, but I really do not believe that will 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.

Marcy Moyer

Keller Williams Realty

D.R.E. 01191194


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



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Andrew Payne Realtor® Richmond VA Homes For Sale~804-938-5257~
Coach House Realty - Richmond, VA
Richmond, VA, Real Estate, SRES®, NAR Green

It's good that you shared these stats for your area.  It's amazing how location affects real estate prices.  We'll be traveling from VA to CA in just a few weeks for the NAR conference.  That ought to be a fairly short distance to drive for you---as compared to a flight from Virginia.

Oct 14, 2013 12:43 AM #1
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Marcy Moyer

Probate, Trust, and Investment Specialist
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