Archive for the 'Quarterly Updates' Category
In spite of being in the midst of a “Great Recession,” Palo Alto Real Estate has set a new high in median sales prices for both the 2nd quarter and June sales. Los Altos and Menlo Park are not far behind and are likely to set new records soon, as well. The local high tech economy is booming and housing is benefiting from the increased demand and limited inventory of homes to sell. Of course, a meltdown in the national and world markets would likely dampen buyers’ enthusiasm, but that is what it would likely take to turn around the current buying frenzy.
Bottom line: if you’re thinking of selling, now’s the time!Share
In Palo Alto, Los Altos and surrounding communities, the residential real estate market continued an upward trend. Even “the Hills” are bouncing back. Supply and demand continued to move back in favor of sellers with multiple offers common and prices rising.
SINGLE FAMILY HOMES
South and Mid-Peninsula Market Snapshot
? 2010 vs. 2011 ?
The economic recovery has certainly gained traction on the San Francisco Peninsula & Silicon Valley! The Conference Board reported a decline in March, “The Conference Board Consumer Confidence Index®, which had increased in February, declined in March. The Index now stands at 63.4 (1985=100), down from 72.0 in February”, but broken down by region, consumer confidence in the Western U.S. was up significantly while confidence was down significantly in the eastern U.S.
The election results are in and so are the Q3 2010 Single Family Home Sales stats. Take a look at the charts below for the communities of the South and Mid-San Francisco Peninsula. All indicators are up: closed sales, inventory, new listings and sales price. Days-on-market is down which means that the best properties are moving fast. Read the rest of this entry »
Prices are up – and days on the market are down!
In Palo Alto, Los Altos and surrounding communities, the residential real estate market continued to recover in the 2nd quarter of ’10. Supply and demand continued to move back in favor of sellers with multiple offers common and prices rising.
See charts, commentary and analysis on the next page.