As of today, here's the snapshot of the Palo Alto single family home market:
115 Active listings
43 Pending sales
What does this mean? There was a huge increase in inventory last week. The PA broker’s tour was the biggest it had been all year. This may be a fluke as many people do not put their homes on the market in August so the first week after Labor Day has a lot of pent-up sales. I will know more next week regarding how the pending sales are doing, whether they're still brisk or if there's a slow down. Also it will be interesting to see how many new listings come on the market in the next 2 weeks. If we continue to see huge increases then the gains in the market we saw over the summer will probably not hold. If the inventory does not continure to increase and pending sales keep up then we should go back to a healthy though not overheated 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 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
650-619-9285
DRE 01191194
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