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John Souerbry's Blog

By John Souerbry | Broker in Palo Alto, CA

Palo Alto Luxury Home Sales Report: April 2013

The Palo Alto luxury home sales report for April 2013 reflects a very strong market throughout Silicon Valley.  Homes priced or sold above $3M (luxury homes) are moving briskly and price escalations are expected throughout the remainder of the year.

Today, six of the nine Palo Alto luxury homes active on the market (not in escrow) have been listed than 30 days or less.  Two have been listed for less than 60 days.  The only home on the market for an extended period is the one short sale listed at $4,500,000.  Of the six luxury homes now in escrow, four were on the market less than two weeks, one was on the market about two and half months and one was on the market six months.  Given that there are always a few properties that will sell slowly under any market conditions, it appears that Palo Alto homes are definitely in demand and selling quickly.

Of the eight homes that closed escrow in April, all had accepted offers (sold) in 31 days or less after going on the market, five homes in less than 10 days.

May 1st Palo Alto Luxury Market Snapshot:

·         Homes active on the market: 9 (including 1 short sale)

·         Price range of active listings: $3,098,000 - $17,250,000

·         Homes now in escrow: 6

 

 Palo Alto Luxury Home Sales Report: April 2013

Note:   Two homes sold in April withheld their final sale price.

            One home sold in January withheld their final sale price.

To receive a no-cost valuation of your home in today’s market, click HERE.

To search for property listings of all types in Palo Alto and Silicon Valley, including homes, land, income property and more - click HERE.

Contact Us for more information regarding the Palo Alto luxury home sales report or for assistance with buying or selling Silicon Valley real estate.

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John A. Souerbry & Associates     Call (650) 815-6182     (DRE 01370983)    

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