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Palo Alto median sales price eclipsed $2M in January -- first time ever for the month of January. Â Check out more stats and analysis covering 15 years of data on jeffandsteve.com.Â
Homes on the San Francisco Peninsula continue to be on fire. Check out the chart below showing Q4 median sales price andÂ average % of list price receivedÂ for the last 15 years inÂ Palo Alto.Â
Click here to view more charts for Palo Alto and surrounding communities.Â
The median home sale price
in Palo Alto wasÂ up 24%
for the month of August 2012 over 2011. It continues to be a sellers market. Â
Below is a 15 year chart of median sales price for Palo Alto. Â You can see it's an all time high at $1.710M. Â Click here
to access more market data, trends and commentary for Palo Alto and surrounding communities.Â
Palo Alto, Los Altos, and Menlo Park (west of Bay Rd) continue to be extremely hot markets. This is apparent in the average percentage of list price received by sellers. Sellers received 108.6% of list price in Palo Alto, on average, in April! Â Buyers are anxious to get into a home in the better areas before they are â€œpriced outâ€. Â Most home owners, on the other hand, are in no hurry to sell as they watch their estimated values climb.
The market typically slows for the summer months beginning toward the end of May. Demand normally picks back up in August. And, as long as local consumer confidence remains positive, thatâ€™s what we expect will occur this year.
In the charts below, you'll find 10 years of data for market activity and median sales price inÂ April in Palo Alto, Los Alto, Los Altos Hills and Menlo Park.
Click here for more charts and analysis for March sales activity in Palo Alto and surrounding communities for the last decade.