Jeff Stricker & Steve Tenbroeck
Alain Pinel
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Market Trends

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Listed below are recent statistics and analysis on home sales transactions for Palo Alto, Los Altos and surrounding communities.

Please contact us if you’d like to discuss your real estate needs in more depth!

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Second Quarter 2015 Market Trends

The historical rise in housing prices has been caused by two basic factors: strong employment and a shortage of homes for sale. As long as those two factors continue, the market will continue to improve. At some point affordability will come into play. So far, that hasn’t been the case.


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

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Topics: Commentary, Market Trends, Quarterly Updates      Please leave a comment.

May Market Trends

Mountain View had the greatest increase in value in May, 28% year over year. It had the greatest amount paid, on average, over asking price, 116.4%. It also had the shortest time on the market, 9 days, on average. Google, among others, is on a tear! Subsequently, the lack of affordability is pricing many out of Palo Alto and Los Altos. The bull real estate market continues.


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

When Will It End?

We have enjoyed the greatest bull market in real estate in memory. This includes the most overbidding for homes, as buyer compete for the few homes available. How long will it last? Prognosticators are evenly mixed on the subject. Some are saying in will go on for several years. While others claim the end is surely near. Whatever the case, home owners in our area are blessed indeed.


In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of April 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 When Will It End?

Jeff and Steve’s First Quarter Real Estate Market Snapshot

SF Peninsula & Silicon Valley: Q1 2015 Compared to Last Year and Five Years Ago

WILL WATER RATIONING MARK THE END TO THE RUN UP IN PRICES?

Lack of homes for sale was again the greatest factor in the first quarter on 2015. How long will the current bull housing market continue? That is the question that everyone is asking.

In the stats below, Los Altos Hills had the greatest increase in the number of closed sales over the previous year; up 35%. After an incredible run-up in ’99 and ’00 and a steep drop in ’01 and ’02, the Hills entered a long period of being unpopular, Now, compared with Atherton’s incredible appreciation, the area started looking like the bargain that it had become.

Sunnyvale had the highest number of new listings; a 34% increase over the 2014. Mountain View had the least days on the market; 13 days to sell!

Atherton had the highest median sales price of $7 million. That was a 154% increase from the same period last year!

Q12015_1

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A Sellers Dream Market

Again – extreme low inventory of homes for sale. Multiple offers, as is, no contingencies…40 to 50% of the offers have been “all cash” with a quick close and a free rent back for the sellers.  A person with a loan of 75- or 80% doesn’t have prayer in this market. They have to wait for properties that are over-priced in most cases.

The percentage of list price received by sellers is the highest we have ever seen (at the bottom of the Sales Price graphs).


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

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Topics: Commentary, Market Trends, Monthly Snapshots      Comments Off on A Sellers Dream Market