Jeff Stricker & Steve Tenbroeck
Alain Pinel
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Welcome

Whether you are a first time buyer or seller, or have been through multiple transactions, you might be surprised by how quickly the real estate market changes in Los Altos, Palo Alto and surrounding communities. You need hard-hitting historical data, current market analysis, and insider experience to stay informed and succeed in these real estate markets.

As a service to their clients, Jeff Stricker and Steve TenBroeck of Alain Pinel Realtors provide regular market analysis and commentary. You are invited to read the entries below, add your comments, ask questions or contact them directly.

March Market Trends

It is with great sadness that I inform you of the passing of Steve TenBroeck on March 1, 2016. Steve was a wonderful person who was always ready to give a quick smile and helping hand to all. He will be missed by many. Steve had a passion for studying the real estate market, and we spent many memorable hours discussing statistics and where the market was heading. I look forward to carrying on the tradition of passionately studying the local real estate market, and personally providing you with timely insights (never from a marketing company).

I am happy to report that the low number of closed home sales during January and February reversed in March for most communities. This is due, I believe, to a larger number of homes for sale, as well as the positive performance of the stock market in March. Buyer demand currently remains strong causing the rapid sale of most homes, thereby keeping inventory low in most areas.


In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of March for Los Altos, Palo Alto, Los Altos Hills, Menlo Park and Mountain View. You can’t find this level of historical data all in one place anywhere else, so if you have any questions or wish to get more info about your community, don’t hesitate to contact us.

Los Altos Median Price Read the rest of this entry »

Topics: Commentary, Market Trends, Monthly Snapshots      Please leave a comment.

February Market Trends

Local real estate markets are off to a slow start so far in 2016. One reason closed sales are down is because the number of homes that have come to market in 2016 is down significantly as well. Another factor that we highlighted last month is the continuing stock market volatility. Although we don’t believe the real estate market has changed fundamentally, it is too early to draw conclusions for the rest of 2016. Traditionally, March and April are the months when the most homes come onto the market. How the market reacts to the first big surge in the number of homes for sale will provide an indication if the market is in transition. Since the local real estate market is overdue for a cyclical correction, we will keep you updated by delivering our personal market insight based on local, pertinent data (not an out-of-area marketing company’s generalities).


In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of February for Palo Alto, Los Altos, Los Altos Hills, Menlo Park and Mountain View. You can’t find this level of historical data all in one place anywhere else, so if you have any questions or wish to get more info about your community, don’t hesitate to contact us.

Palo Alto Median Price

Read the rest of this entry »

Topics: Commentary, Market Trends, Monthly Snapshots      Comments Off on February Market Trends

January Market Trends

Last month we stated the obvious – that 2016 would be an interesting year for the real estate market. Like on cue, January was interesting indeed! You have likely been watching the volatility in the stock market closely – and so have local home buyers. Many of the first home sales in January had weaker activity and fewer offers than expected. So far, a strong number of buyers are looking at homes and asking for disclosure packages, but fewer buyers are making offers than a year ago. We believe some/many buyers are choosing to wait and watch both the stock and real estate markets, to determine how they begin the year. Of course, it is early in the year and we will be monitoring home sale activity closely in coming months to discern if a significant trend is developing. These monthly updates are part of our continuing pledge to provide you with our personal insights (never from a marketing company) into the local real estate markets.


In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of January for Palo Alto, Los Altos, Los Altos Hills, Menlo Park and Mountain View. You can’t find this level of historical data all in one place anywhere else, so if you have any questions or wish to get more info about your community, don’t hesitate to contact us.

Palo Alto Median Price Read the rest of this entry »

Topics: Commentary, Market Trends, Monthly Snapshots      Comments Off on January Market Trends

Annual Market Trends

Since 2009 the appreciation has been terrific! Single family homes in our area have nearly doubled in value. This high rate of appreciation is caused by a lack of available housing. Sellers are staying in their homes longer while the population and number of high paying jobs grows. We do not see any changes to this situation on the horizon. Happy New Year Homeowners!


In the charts below, you’ll find 15 years of data for market activity and median sales price for the Year 2015 for Palo Alto, Los Altos, Los Altos Hills, Menlo Park and Mountain View. You can’t find this level of historical data all in one place anywhere else, so if you have any questions or wish to get more info about your community, don’t hesitate to contact us.

Palo Alto Median Price Read the rest of this entry »

Topics: Annual Report, Commentary, Market Trends      Comments Off on Annual Market Trends

November Market Trends

The “bullish” housing market continued in November. The primary difference from last year is a softening of the average list price received by sellers (102.1% vs. 111.9% in Palo Alto). We believe this was caused by sellers of poorly located properties or homes in poor condition trying to get as much for theirs as sellers of well-located and well-kept homes. Los Altos had the lowest inventory of homes for sale ever with just four homes for sale! It’s a great time to be a seller.


In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of November for Palo Alto, Los Altos, Los Altos Hills, Menlo Park and Mountain View. You can’t find this level of historical data all in one place anywhere else, so if you have any questions or wish to get more info about your community, don’t hesitate to contact us.

Palo Alto Median Price

Read the rest of this entry »

Topics: Commentary, Market Trends, Monthly Snapshots      Comments Off on November Market Trends