· As of today this is the snapshot of the Palo Alto single family home market:
70 Active listings
33 Pending sales
I have taken a break from my inventory tracking but it is definitely time to get back. So, the inventory in Palo Alto is still low, but the pending sales are down a little also. What is most interesting is the incredible number of offers on a few listings last week. Sycamore and Greer and 12 and 14 offers each. They were both listed under a million and sold over a million. I think that these two sales are backing up my position that the lower end of the Palo Alto market has bottomed, and now may be showing signs of appreciation.
There is also a little more activity in the upper end. There are 18 active listings and 6 pending sales over 2.5 million which is a better ratio than anytime in 2009. I am not ready to say that segment of the market has bottomed, but it is a little better than before.
I will be back next week, I promise!
· 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
650-619-9285
DRE 01191194
