Menlo Park Ca Real Estate Market Update 5/18/2014

As a Menlo Park Real Estate Agent I am always being asked, "How's the market in Menlo Park?" The answer is simple:

Not enough inventory, plenty of buyers.

There are currently 35 single family Menlo Park homes for sale up from 25 last week.

There are currently 9 Menlo Park town homes/condos up from 4 last week.

There are currently 36 pending sales of Menlo Park single family homes up from 27 last week.

There are currently 4 pending sales of Menlo Park homes/Condos  down from 6 last week.

This week there were 12 new Menlo Park single family home listings and 3 new Menlo Park condo listings. Not nearly enough to satisfy demand but hopefully more are on the way.

In April of 2014 there were 28 single family Menlo Park homes sold ranging in price from $648,000 to $4,985,000.  In April of 2013 there were 9 Menlo Park Town Homes/Condos sold.   The prices ranged from $630,000 to $1,725,000. 

Of the 28 Menlo Park sales in April of 2014 only 7 were sold with all cash, the other 21 or 75% were financed. This is a very good percentage as about 33% of homes in the area are being sold with all cash.  Of the 9 condos sold, 7 were all cash. This is a fluke, I hope. I think it also represents a large number of move down buyers, not just investors. Since prices are so high and many homeowners in Portola Valley and Woodside are tired of their acre plus lots and high maintenance homes, there are a lot of cash buyers who are buying condos right now.

The inventory of single family homes for sale in Menlo Park is still at historically low levels and shows no sign of getting better. At least there was a jump in condo listings.  If you would like to search for homes for sale please click here.

If you have any questions about buying or selling a home in Menlo Park please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

Ca B.R.E. 01191194

650-619-9285

Palo Alto Ca Real Estate Market Update 5/18/2014

As a Palo Alto Real Estate Agent I am always being asked, "How's the market in Palo Alto?" The answer is simple:

Not enough inventory, plenty of buyers. Only the problem, like the drought, is getting worse.

There are currently 28 single family Palo Alto homes for sale, down from 38 last week

.

There are currently 7 Palo Alto town homes/condos for sale, up from 4 last week.

There are currently 47 pending sales of Palo Alto single family homes up from 38 last week.

There are currently 5 pending sales of Palo Alto Town homes/Condos down from 6 last week.

Last week there were 11 new Palo Alto single family home listings and 3 new Palo Alto condo listings. Basically the pending sales are more than keeping up with the new listings.  

In April of 2014 there were 45 single family Palo Alto homes sold.  The prices ranged from $1,670,000  to over $7,500,000. The home for over 7,500,000 withheld the sales price.  Of the 45 sales, 18 were all cash. That is just about 33% which seems to be about the norm.  Most of the cash sales were either at the very high end or tear downs so that is not too unusual. 

In April of 2014 there were 12 Palo Alto Town Homes/Condos sold,   The prices ranged from $580,000 to $1,850,000. Nine of these sales were financed and 3 were cash. 

Traditionally the market picks up in March and April and we saw flickers of that. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and sellers would still reap their appreciation.   If you would like to search for Palo Alto homes for sale please click here.

If you have any questions about buying or selling a home in Palo Alto please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

Ca B.R.E. 01191194

650-619-9285

Menlo Park Ca Real Estate Market Update 5/4/14 Happy Star Wars Day!

As a Menlo Park Real Estate Agent I am always being asked, "How's the market in Menlo Park?" The answer is simple:

Not enough inventory, plenty of buyers.

There are currently 25 single family Menlo Park homes for sale up from 20 last week.

There are currently 4 Menlo Park town homes/condos down from 5 last week.

There are currently 27 pending sales of Menlo Park single family homes up from 26 last week.

There are currently 6 pending sales of Menlo Park homes/Condos  up from 5 last week.

This week there were 11 new Menlo Park single family home listings and 1 new Menlo Park condo listings. Not nearly enough to satisfy demand but hopefully more are on the way.

In April of 2014 there were 28 single family Menlo Park homes sold ranging in price from $648,000 to $4,985,000.  In April of 2013 there were 9 Menlo Park Town Homes/Condos sold.   The prices ranged from $630,000 to $1,725,000. 

Of the 28 Menlo Park sales in April of 2014 only 7 were sold with all cash, the other 21 or 75% were financed. This is a very good percentage as about 33% of homes in the area are being sold with all cash.  Of the 9 condos sold, 7 were all cash. This is a fluke, I hope. I think it also represents a large number of move down buyers, not just investors. Since prices are so high and many homeowners in Portola Valley and Woodside are tired of their acre plus lots and high maintenance homes, there are a lot of cash buyers who are buying condos right now.

The inventory of single family homes for sale in Menlo Park is still at historically low levels and shows no sign of getting better. At least there was a jump in condo listings.  If you would like to search for homes for sale please click here.

If you have any questions about buying or selling a home in Menlo Park please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

Ca B.R.E. 01191194

650-619-9285

Palo Alto Ca Real Estate Market Update 5/4/2014 Happy Star Wars Day!

As a Palo Alto Real Estate Agent I am always being asked, "How's the market in Palo Alto?" The answer is simple:

Not enough inventory, plenty of buyers. Only the problem, like the drought is getting worse.

There are currently 38 single family Palo Alto homes for sale, the same as last week

.

There are currently 4 Palo Alto town homes/condos for sale, the same as last week.

There are currently 38 pending sales of Palo Alto single family homes down from 39 last week.

There are currently 6 pending sales of Palo Alto Town homes/Condos the same as last week.

Last week there were 15 new Palo Alto single family home listings and 1 new Palo Alto condo listings. This is a 25% drop from the week before in SFR lisitngs.  

In April of 2014 there were 45 single family Palo Alto homes sold.  The prices ranged from $1,670,000  to over $7,500,000. The home for over 7,500,000 with held the sales price.  Of the 45 sales 18 were all cash. That is just about 33% which seems to be about the norm.  Most of the cash sales were either at the very high end or tear downs so that is not too unusual. 

In April of 2014 there were 12 Palo Alto Town Homes/Condos sold,   The prices ranged from $580,000 to $1,850,000. Nine of these sales were financed and 3 were cash. 

Traditionally the market picks up in March and April and we saw flickers of that. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation.   If you would like to search for Palo Alto homes for sale please click here.

If you have any questions about buying or selling a home in Palo Alto please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

Ca B.R.E. 01191194

650-619-9285