We had only 9 new listings of single family homes in Palo Alto last week as oppose to 14 the week before. 16 houses changed status to pending last week the same as the week before and 14 listings closed escrow as opposed to 12 the week before.
Our market activity is directly connected to the number of new listings that comes on the market each week; if we were to have more listings coming on the market we would sell more houses.
The inventory is slightly better but we are still seeing multiple offers on most of the listings. All listings that closed escrow this week sold significantly above the asking price but TWO confirming a strong. The market remains a seller market.
If you are thinking about selling your home, it is the time to contact your realtor to establish a plan to sell your home.
Following is the detailed market activity for Palo Alto:
Active : 9
Pending : 16
Sold : 14
For further details please click on the following link: http://paloaltoproperties.blogspot.com