Palo Alto, Ca. Single Family Home Market Update 01-29-09
As of today this is the snap shot of the Palo Alto market:
•81 Active Listings
•17 Pending Sales
•5 Sold listing in past week
What does this mean? Big change from last update on Jan. 18th. There are 16 more active listings than 11 days ago but only 1 more pending sale. There are now 29 actives 2 pending sales over 2 million, and 52 active and 15 pending sales are under 2 million. The ratio of pending to active sales overall has increased from 1 to 4 to almost 1 to 5. The ratio of active to pending over 2 million is almost 1 to 15 and under 2 million is almost 1 to 4. So, things do not look bright, except for the fact that there was a lot of homes that came onto the market for last Friday's tour, and very few for this weeks tour. Last Fri there were 78 listings and tonight there are 81. This is probably a Super Bowl week-end phenomenon.
Tomorrow I will give the details on the homes that sold since the last update and who seems to be putting their homes on the market in today's climate. I will try to get as much info as possible on new construction, financial hardship, or selling by heirs to try to get a feel for what is happening.
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