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
marcy@marcymoyer.com
Ca B.R.E. 01191194
650-619-9285
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