Wednesday, March 25, 2009

Palo Alto Market Update, Mar 24: Single Family Homes

Palo Alto, Ca. Single Family Home Market Update 03-24-09

As of today this is the snap shot of the Palo Alto market:

137 Active Listings

25 Pending Sales

6 closed sales since 3/16/09

Here are the solds:

 

Address

City

Beds

Bath

DOM

CDOM

LOE

SqFt

$/SqFt

Lot(SqFt)

List Price

Age

Sale Price

 

SOLD

 

 

 

 

 

 

 

 

 

 

 

 

 832 Waverley St 

 Palo Alto 

 

 3 1/2 

7  

7  

21  

2,403  

$871.83  

4,356  

$2,095,000  

4  

$2,095,000  

 4270 Wilkie 

 Palo Alto 

 

 4+ 

15  

32  

38  

3,312  

$581.22  

8,316  

$1,995,000  

1  

$1,925,000  

 4272 Wilkie Wy 

 Palo Alto 

 

 4+ 

7  

7  

42  

3,345  

$575.49  

8,000  

$2,100,000  

 

$1,925,000  

 1111 Cedar St 

 Palo Alto 

 

 

5  

5  

8  

695  

$2,726.62  

10,000  

$1,895,000  

99  

$1,895,000  

 1638 Portola Av 

 Palo Alto 

 

 

51  

51  

45  

2,112  

$781.25  

5,250  

$1,750,000  

81  

$1,650,000  

 1252 Cedar St 

 Palo Alto 

 

 

44  

307  

78  

989  

$1,314.46  

8,109  

$1,588,000  

85  

$1,300,000  

 2321 Oberlin St 

 Palo Alto 

 

 3 1/2 

102  

102  

16  

4,000  

   

6,250  

$2,695,000  

1  

- -

 

AVERAGE VALUES

 

 

33  

73  

35  

2,408  

$1,141.81  

7,183  

$2,016,857  

45  

$1,798,333 

4270 Wilkie originally listed at $2,425,000.

1111 Ceder originally listed at $2,137,000.

1638 Portola originally listed at $1,800,000.

 

What does this mean?

Active listings are up and pending sales are steady. What strikes me is that active sales are up during the week of spring break for Palo Alto schools, traditionally a week when the inventory does not increase. It is another sign that this market is not like other markets we have experienced in Palo Alto. In the past, when sellers expected their homes to sell in a week, they would not usually list during a week where many families were out of town. Now, sellers don’t expect a quick sale, and many families are not going away any way.

If you are interested in finding the final selling price of any home, anywhere, you can do it on my web site. Go to www.marcymoyer.com and click on Cyberhome Home Valuation. You can then type in any address next to the search icon and get the county records.

If you need anything else please feel free to contact me. I am here to help you.

Marcy Moyer Intero Real Estate

marcy@marcymoyer.com

650-619-9285

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