Palo Alto Market Update, May 1st: Single Family Homes

As of today this is the snapshot of the Palo Alto single family home market:

148 Active listings

47 Pending sales

10  Closed sales since April 22 

What does this mean? The inventory of active listings is not increasing as much as pending sales are increasing. We are now at a 1 to 3 pending to active ratio which is not too bad. Again, the over 2 million market is a little better with 51 active listings and 10 pending sales. Under 2 million there are 98 active listings and 37 pending sales, less than a 1 to 3 ratio of pending to active, which is definitely improving. It is also possible that increase in the stock market is also freeing up some cash which is helping the buyers’ down payment problems along with the easing up of down payment requirements. Overall, things are a little better than they were a few months ago with more realistic sellers and  more qualified buyers. 

Solds will be separate again.   

If you are interested in finding the final selling price of any home, anywhere, you can do it on my web site. Go towww.marcymoyer.com and click on Cyberhome Home Valuation. You can then type in any address next to the search icon 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
marcy@marcymoyer.com
650-619-9285
www.marcymoyer.com