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Jeff Stricker and Steve TenBroeck's Blog

By Jeff and Steve | Broker in Los Altos, CA
  • March Market Trends - Spring

    Posted Under: Market Conditions in Los Altos, Home Selling in Los Altos, In My Neighborhood in Los Altos  |  April 27, 2012 12:05 PM  |  308 views  |  No comments

    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.

  • Spring Fever - March Market Trends

    Posted Under: Market Conditions in Palo Alto  |  April 26, 2012 11:27 AM  |  192 views  |  No comments
    Ready...set..go 
    It too a record 14 Days (average) to sell a home in Palo Alto in March. That's the lowest since we started tracking the data over ten years ago. So buyers be ready to act and be prepared to offer over asking. In March the average sales price received was 108.8%. 
    Click here for more charts and analysis for March sales activity in Palo Alto and surrounding communities for the last decade.  
     
  • Q1 2012 Report - "The Hills are Alive"

    Posted Under: Market Conditions in Los Altos, In My Neighborhood in Los Altos  |  April 13, 2012 7:48 AM  |  266 views  |  No comments
    Atherton and the “hills” markets – Woodside, Portola Valley, Los Altos Hills, Saratoga, and Los Gatos – saw great improvement in the average percentage of list price received by sellers in the first quarter.  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. 
  • Q1 2012 Report - Feeding Frenzy - The Facebook Effect

    Posted Under: Market Conditions in Palo Alto, Home Buying in Palo Alto, In My Neighborhood in Palo Alto  |  April 13, 2012 7:26 AM  |  316 views  |  No comments
    Many buyers believe they will likely have to pay a lot more for homes once Facebook employees are able to cash out. Therefore, those buyers are willing to do “whatever it takes” to prevail in the multiple-offer-feeding-frenzy that is now happening up and down the Peninsula.
    We have seen these imbalances in supply and demand before, (’97-’00, ’05 -’07) but not at this intensity. The number of all-cash, non-contingent, quick close offers is truly amazing – and extremely daunting for buyers competing with those offers!

    Click Here to see charts for Q1 sales trends in Palo Alto, Los Altos, Menlo Park, Los Altos Hills, Atherton, Portola Valley and other communities along the San Francisco Peninsula. 
  • Market Snapshot - IPO’s are back; so are “dot-com boom” market conditions

    Posted Under: Market Conditions in Palo Alto, Home Buying in Palo Alto, Home Selling in Palo Alto  |  February 28, 2012 11:46 AM  |  279 views  |  No comments
    LinkedIn employees and investors are leading the way in the early days of 2012 and the community is a buzz about the upcoming Facebook IPO.  With all of this activity, it’s clear that Palo Alto is ground zero for much of the new wealth in the area. The multiple offers and over-bidding are reminiscent of the dot-com boom of ’99-’00.  The average selling price in Palo Alto in January ’12 was 4% over the asking price. 

    Click here to see more trends and analysis 
  • Head for the Hills! Spectacular Recovery

    Posted Under: Market Conditions in Los Altos Hills  |  January 21, 2012 3:24 PM  |  341 views  |  No comments
    The San Francisco Peninsula & Silicon Valley real estate markets continued their spectacular recovery in spite of a global recession. Technology and social networking companies from Mountain View to San Francisco are rapidly expanding – and hiring. The demand for housing in this area is now nearly as strong as it was during the dot-com boom of ’98-‘00. Median sales prices, on average, were up 4% from last year, and up by 13% in Atherton.

    Hills Markets Now Recovering
    During the past few years demand has been low in Los Altos Hills, Portola Valley, and Woodside. Yet, in 2011 those areas had the greatest increase in sales volume over the previous year of all the areas covered here. In fact, Woodside’s sales volume was up by 84%!

    Click here to access more detailed charts and analysis on current market condition for Los Altos, Palo Alto and surrounding communities.

    When we only look at averages they can tell us something, but not everything. If you have any questions or would like an in-depth analysis of trends in your particular neighborhood, we will be happy to provide it.

    Jeff Sticker, Broker & Attorney | 650.823.8057 | jstricker@apr.com | DRE #0948478
    Steve TenBroeck, Broker & President's Club | 650.450.0160 | stenbroeck@apr.com | DRE#01044091
  • Palo Alto Continues to Defy Gravity

    Posted Under: Market Conditions in Palo Alto  |  January 21, 2012 2:48 PM  |  326 views  |  3 comments

    The San Francisco Peninsula & Silicon Valley real estate markets continued their spectacular recovery in spite of a global recession. Technology and social networking companies from Mountain View to San Francisco are rapidly expanding – and hiring. The demand for housing in this area is now nearly as strong as it was during the dot-com boom of ’98-‘00. Median sales prices, on average, were up 4% from last year, and up by 13% in Atherton.

    Palo Alto again had the most overbidding in 2011 with sellers receiving 103.6% of asking price, on average. It also had the most expensive real estate in the area with homes selling at an average of $723 per square foot.  Increases in sales prices and over-bidding are likely to continue in 2012, unless there is some major national or international financial upheaval.

    Click here get the latest trends and analysis for Palo Alto, Los Altos and surrounding communities single family home sales.  See quarterly and monthly comparisons for the last ten years. 

    If you would like an in-depth analysis of trends in your particular neighborhood, we will be happy to provide it. Simply call Jeff at 650/823-8057 or Steve at 650/450-0160 or email us: JeffAndSteve@apr.com

 
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