As of today this is the snapshot of the Palo Alto single family home market:
89 Active listings
62 Pending sales
Breakdown of Price Points:
Under 1 million: 7 Active Listings / 12 Pending Sales
1 to 2 Mil: 41 Active Listings/ 37 Pending Sales
2-3 Million 25 Active listings/ 9 Pending Sales
3+ mil: 16 Active Listings/ 4 Pending Sales
What does this mean? Active to pending ratio is stagnant in all categories from last week, with the exception of the 2-3 million price point. It was 18 to 8 and is now 25 to 9. If this is a trend we may have seen a peak in recovery, or it may just be a blip. At this price point the stock market is often involved in the down payment and with this month’s stock problems we may be seeing a slow down. My only predication is that this is the segment to watch to see if the crazy multiple offer market in PA is going to slow down or continue.
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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