Not enough inventory, plenty of buyers.
There are currently 18 single family Palo Alto homes for sale down from 28 last week.
There are currently 8 Palo Alto town homes/condos for sale, the same as last week.
There are currently 31 pending sales of Palo Alto single family homes, up from 23 last week.
There are currently 11 pending sales of Palo Alto Town homes/Condos, up from 10 last week.
In Feb of 2013 there were 14 single family Palo Alto homes sold ranging in price from $1,670,000 to $3,100,000.
In Feb of 2013 there were 4 Palo Alto Town Homes/Condos sold ranging in price from $900,000 to $1,706,000. the trend, few sales, higher prices since Jan.
These numbers are still low, with even fewer single family homes for sale than last week, so reversing the trend of 2 weeks in a row of small improvement. I was hoping they will be doubled by the end of February and triple by the end of March but as of now that seems unlikely. I still expect an increase in inventory, but possibly not till late spring or early summer till we see a significant difference.
If you would like to search for homes for sale please feel free to visit my website for a custom search.
If you have any questions about buying or selling a home in Palo Alto please feel free to contact me.