Wednesday, June 30, 2010

Palo Alto CA Market Update, June 28th: With a Neighborhood Twist!




Active Listings: 110
Pending Sales: 49

There has been a jump in inventory this week ahead of the fourth of July holiday. Since there will not be a lot of new listings this week due to the holiday some of this inventory may be sold off, or maybe not. I will keep my eye on it.

I thought the neighborhood breakdown was interesting so I am going to do it again.  So here is the neighborhood breakdown:

Downtown:  5 Active  2 Pending                                      one less pending
Professorville:  3 Active  2 Pending                                 exactly the same
Community Center:  6 Active  3 Pending                       more listings
Crescent Park:  5 Active   4 Pending                               one more pending
Green Gables:  9 Active  8 Pending                                one more active one less pending
Old Palo Alto:  11 Active   3 Pending                             one more pending
College Terrace:  Active 8  Pending 4                           two less listings
Ventura:  6 Active  1 Pending                                       two more listings one less pending
Midtown:  15 Active  3 pending                                   six  more listings
South Palo Alto: 23 Active  14 Pending                       five more listings and one more pending
Barron Park:  Active  10   Pending   0                         one more listing one less pending
Green Acres:  4 Active  2 Pending                              two less listings
Palo Alto Hills:  5 Active  1 Pending                           one more listing

So what does this mean?  Still better ratios in north than south. Barron Park is still slow.  Crescent Park is better and Community Center worse than 2 weeks ago.  I will keep this up for a while, so we can track the neighborhood trends.

Here's a link to last week's neighborhood-focused market update, so you can see how things have changed: Palo Alto Market Update, June 15th: With a Neighborhood Twist!

And here's another link to a market update I posted a year ago--it's really interesting to compare! Last June the number of pending and active sales were almost identical to this week's.... Palo Alto Market Update, June 27th (2009): Single Family Homes.

Marcy Moyer
Keller Williams Realty
D.R.E. 01191194
650-619-9285

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