Home > Blogs > California > Santa Clara County > Palo Alto > Special Report:  Huge Increase In Palo Alto Homes For Sale  7/22/2012

John Souerbry's Blog

By John Souerbry | Broker in Palo Alto, CA

Special Report: Huge Increase In Palo Alto Homes For Sale 7/22/2012

Palo Alto home inventory reportThe inventory of Palo Alto homes and condos for sale has been lagging relative to buyer demand in recent months, resulting in multiple offers and over-bidding for many homes.  But in the week from July 13th to July 20th, inventory increased dramatically from 58 to 80 homes on the market (not including those in escrow), a rise of 37%.

Silicon Valley home listing inventories have been light in many communities, as sellers patiently await return of home values and the accompanying equity needed to either sell or refinance.  This past week’s inventory increase will be a test of whether recent improvements in employment and IPO activity are truly creating a sustained housing market recovery.  Late July and August are months when many buyers and sellers traditionally take action prior to the start of a new school year.

As overall sales inventory is rising, the number of Palo Alto homes priced under $1M has increased 50% from 14 at the beginning of July to 21 on the market today (see my report and click through to the MLS listings by clicking here:  Palo Alto Homes And Condos For Sale Under $1M).



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John A. Souerbry & Associates (DRE 01370983) Tel (650) 815-6182  john@jsrealproperty.com

Tags:  Northern California homes and land, Palo Alto homes and condos for sale, Palo Alto real estate listings, Silicon Valley homes and land for sale, Silicon Valley condos for sale, Silicon Valley MLS listings, Northern California real estate


By Richard K. Ho, M.D., MBA,  Sun Jul 22 2012, 10:36
John- thanks for sharing. Sellers are gered up to sell when buyers mentality is on the normal path.
Read my blog also:http://www.trulia.com/blog/RichardHo/2012/07/home_prices_rise_in_most_major_us_cities_http_www_businessweek_com_ap_2012_05_d9v2ds800_htm
Richard Ho,M.D., MBA
Realtor, investor coach
Cornerstone Real Estate
6477 Almaden Expy D-2, San Jose CA 95120
Please visit: http://www.DrHoRealty.com

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