As of today this is the snapshot of the Palo Alto single family home market:
69 Active Listings
65 Pending Sales
Price Point Break Down:
Under 1 Million
5 Active Listings
21 Pending Sales
1 mil to 1.5 mil
25 Active Listings
24 Pending Sales
1.5 to 2 mil
11 Active Listings
24 Pending Sales
2-3 mil
17 Active Listings
9 Pending Sales
3mil +
12 Active Listings
4 Pending Sales
This time last year:
148 Active listings
47 Pending sales
Things have really changed since last year. There is half the inventory as last year, which goes along with the recent California Association of Realtor Stats that report that in Ca. homes over 1 million last year had a 21 month supply of inventory and now there is a 10 month supply of inventory. So, at this moment in time the market is better, even in the over 3 million dollar price point when last year the ratio of active to pending was 40 to 1 over 2 million. 3 to 1 is much better, but I do not know if we have really hit bottom for this segment. My guess is no, but I will have more knowledge about that in the coming months.
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
www.marcymoyer.com
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