We had 12 new listings of single family homes in Palo Alto last week as oppose to 16 the week before. 13 houses changed status to pending last week as oppose to 9 the week before and 10 listings closed escrow as oppose to 6 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.
New listings are selling within one week. Multiple offers on most of the listings is the norm. All listings that closed escrow this week sold significantly above the asking price confirming a strong.
The inventeotry is very low. 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 : 12
Pending : 13
Sold : 10
For further details please click on the following link: http://paloaltoproperties.blogspot.com