Since we started tracking the monthly data 10 years ago, we have recorded a March high in the meridian sales price of $1,915,000 this is up over $650,000 since we started tracking the data 10 years ago. The average days on market is only a few days over a month, at 31 days this year with the average percentage of list price received at a whopping 102.7% even with two months of inventory this March!
Click here for more charts and analysis for March sales activity in Palo Alto and surrounding communities for the last decade.
Atherton and the â€œhillsâ€ markets â€“ Woodside, Portola Valley, Los Altos Hills, Saratoga, and Los
Â Gatos â€“ saw great improvement in the average percentage of list price received by sellers in the first quarter. Â This movement indicates that values are rising.Click here
to see charts comparing market conditions for communities along the SF Peninsula in Q1 2012 as compared to a year ago. It's truly stunning to see the feeding frenzy around home purchases right now. We attribute this trend to a combination of strong local economic conditions and the effect Facebook's potential IPO is having on the attitudes and perceptions of both buyers and sellers.Â