Jeff Stricker & Steve Tenbroeck
Alain Pinel
photo photo photo photo

Archive for the 'Market Trends' Category

The Same Old Bull

Our “bullish” housing market continued in November. Median sales prices were up from a year ago by 23% in Menlo Park and up 20% in Palo Alto. Sales volume continues to shrink as there are very few homes for sale. However, the number of homes for sale was up slightly in Palo Alto, Los Altos, and Menlo Park from last November’s all-time-low inventory. The market is nervous, however, and poised to reverse sharply when the slowdown comes. When that will be is – of course – unknown.


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      Please leave a comment.

October Market Trends

The facts and figures for October are – once again – remarkable! Home sellers are very fortunate to be selling in one of the hottest real estate markets, to date. Note the percentage of list price received across the bottom of the Median Sales Price charts. Ten percent over the asking price is now the norm. We are back to a supply-demand level similar to the bull market of 1999-2000 with no apparent end in sight.


In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of October 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      Please leave a comment.

September Market Trends

The sharp year over year increase in median sales for homes – particularly in Palo Alto, Menlo Park, and Mountain View – was driven by an increase in both hiring and companies’ stock values in Silicon Valley. With the recent announcements of layoffs at Cisco & HP and a cooling stock market, it will be interesting to see if the current imbalance of supply and demand will continue at this extraordinary level.


In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of September 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

August Market Trends

Once again we saw new highs for median sale prices in August. Low sales volume was caused by near record low numbers of homes for sale. While some nervousness is being expressed by both buyers and sellers regarding how long this market can and will continue, multiple offers and bidding wars remain the standard for rationally priced properties in all price ranges.

As we stated last month, September sales activity – normally a high demand month – will provide the best barometer for assessing the strength of the market for the remainder of the year.


In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of August 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

July Market Trends

What an amazing three year run of appreciation in our local housing market! The July stats confirm this. One number that stood out to us, however, was an increase in the inventory of homes for sale in Palo Alto at the end of July. This is the first year over year inventory increase in five years.

Does this indicate a coming shift in the housing market? Or is it merely a seasonal anomaly?

We’ll know come September when the (usually strong) fall market commences.


In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of July 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