- As of today this is the snapshot of the Palo Alto single family home market:
107 Active listings
51 Pending sales
What does this mean? After a big increase in inventory after Labor Day the inventory has decreased by 10 and the pending sales have increased by 8. This is not because of long escrows because the average length of escrow in the last 3 months is 29 days. This is because there are so few short sales and bank owned properties in Palo Alto. These sales are the ones that take so long to close. The middle section of the market, homes listed between $900,000 and $1,500,000 are the ones with the most activity and offers. In this segment there are 40 active listings and 29 pending sales which is a great ratio. Interest rates are still low and there are certainly buyers out there wanting to living in Palo Alto, and now that prices have dropped 20% the market seems to be picking up.
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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