2000, 2007, and 2013 have been the hottest real estate markets in our area in the last twenty years! Extremely low interest rates are keeping affordability up. Couple that with an influx of cash from successful companies and foreign investors and you have increased demand for the very few homeowners who have any desire to sell at this time.
Unless there is a significant financial shock to the economy we expect the spring market to be very hot, pushing prices higher. But keep in mind that 2001 and 2008 were terrible years for sellers.
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.Share