As of today this is the snapshot of the Palo Alto single family home market:
79 Active listings
51 Pending sales
Breakdown of Price Points:
Under 1 million: 6 Active Listings / 14 Pending Sales
1 to 1.5 Mil: 31 Active Listings/ 19 Pending Sales
1.5-2 mil: 14 Active Listings/ 8 Pending Sales
2-3 Million 12 Active listings/ 10 Pending Sales
3+ mil: 13 Active Listings/ 3 Pending Sales
What does mean? The market overall is pretty healthy. There is virtually no change since my last update on 4/11/10. Under 1 million is very competitive, 1-2 million is trending seller’s market, but most surprisingly, 2-3 million is pretty healthy again this week which I will now declare a trend. Over 3 million is still anemic and probably the best chance for a bargain. So it seems there are still a lot of people who want to move to Palo Alto, and there is competition for homes. With the increased optimism over the potential for more jobs in the Silicon Valley there is a good chance that this may make the real estate market more active. There are people who are thinking that the upper part of the market will start to recover soon. I have not seen it in the stats yet, but it is possible it could happen. I believe that if the upper end is ready to recover will we see an increase in pending sales first.
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 Keller Williams Realty
650-619-9285
DRE 01191194
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