Palo Alto Market Update--Dec, 8th

As of December 8th, there are 85 single family homes for sale in Palo Alto. 19 homes are under contract for sale, and 3 homes sold in the last week--one of off which sold above asking price.

There are 30 condos and town homes for sale, 4 are under contract for sale, and 2 sold in the last week, neither of which sold over asking price.

What does this mean? Sales are still pretty slow in Palo Alto, but inventory is not excessive. This is a good thing--as long as inventory doesn't skyrocket it means there aren't a lot of homes from which to choose, so prices won't plummet.