Palo Alto, Ca. Single Family Home Market Update 01-19-09
As of today this is the snap shot of the Palo Alto market:
•65 Active Listings
•16 Pending Sales
•1 Sold listing in past week
What does this mean? Not much change from last week. The inventory is still pretty low. All of the pending sales are under 2 million. The ratio of active to pending sales overall is about 1 to 4, but the ratio of active to pending under 2 million is less than 1 to 3. There are 43 active listings under 2 million. I maintain my prediction from last week that the under 2 million market is fairly healthy right now and I don't see any great drops in prices. The over 2 million dollar market is stagnant. Those homes may be sold at large discounts if the sellers are motivated. What we do not know is how many of those sellers are motivated and how many are willing to wait, or will just take those homes off the market.
If you are interested in finding the final selling price of any home, anywhere, you can do it on my web site. Go to www.marcymoyer.com and click on Cyberhome Home Valuation. You can then type in any address and get the county records.
If you need anything else please feel free to contact me. I am here to help you.
Marcy Moyer Intero Real Estate