Palo Alto Market Update, April 19th: Single Family Homes

As of today this is the snapshot of the Palo Alto single family home market:

143 Active listings

39 Pending sales

13  Closed sales this month 

What does this mean? There has been some change in inventory this week with 7 more active listings and 7 more pending sales, which is a 25% increase in pending sales with only a less than 5% increase in active listings. This may be because the easing up a little on jumbo loans. B of A has a loan with 20% down (up to a million and a half dollar loan) and other banks are being more aggressive with their 5 year fixed loans. Again, the over 2 million market is very slow with 53 active listings and 4 pending sales. Under 2 million there are 90 active listings and 35 pending sales, less than a 1 to 3 ratio of pending to active, which is definitely improving. It is also possible that increase in the stock market is also freeing up some cash which is helping the buyers’ down payment problems. 

I am behind on solds for this month so I will do them all as a separate blog post next.   

If you are interested in finding the final selling price of any home, anywhere, you can do it on my web site. Go towww.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
www.marcymoyer.com