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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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

Palo Alto Market ActivityLos Altos Median PriceLos Altos Market ActivityMenlo Park Median PriceMenlo Park Market ActivityLos Altos Hills Median PriceLos Altos Hills Market ActivityMountain View Median PriceMountain View Market Activity

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

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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Palo Alto had the highest percentage over list price received by the seller; 116.1%. In addition, Palo Alto also was the highest cost per square feet of home sold; $1,639. That was more than double what homes were going for in 2010!

How long will the current bull housing market continue? That is the question that everyone is asking. Now with water rationing in our future will this be the beginning of the end of the bull market? 

We’ll let you know.

WANT MORE SPECIFIC INFORMATION?
The towns included above have diverse neighborhoods and prices. When we look at averages we get clues to the overall market, but not the details. If you would like an in-depth analysis of market trends in your particular town or neighborhood, simply call Jeff at 650/823-8057 or Steve at 650/450-0160, or email us: [email protected], or visit our website: JeffAndSteve.com. We’ll be happy to help!

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

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


Palo Alto Market ActivityLos Altos Median PriceLos Altos Market ActivityMenlo Park Median PriceMenlo Park Market ActivityLos Altos Hills Median PriceLos Altos Hills Market ActivityMountain View Median PriceMountain View Market Activity

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

February Market Trends

An extraordinary rise yet again in Feb!  One has to wonder, when does the current cycle end?  The fact is that no one knows. As long the overall economy stays healthy and jobs are created then the beat goes on.


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 Palo Alto Market ActivityLos Altos Median Price Los Altos Market ActivityMenlo Park Median Price Menlo Park Market ActivityLos Altos Hills Median Price Los Altos Hills Market ActivityMountain View Median Price Mountain View Market Activity

Topics: Commentary, Market Trends, Monthly Snapshots      Comments Off

The Scarcity of Homes for Sale is Still Driving the Market

We read recently that since 2011 over 300,000 jobs were added in the Bay Area, but only 62,000 additional housing units! And we do not see anything on the horizon to reverse this trend. Those who are lucky enough to own their home are enjoying rapid appreciation – and will continue to do so until the next financial shock occurs.


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

Palo Alto Market ActivityLos Altos Median PriceLos Altos Market ActivityMenlo Park Median PriceMenlo Park Market ActivityLos Altos Hills Median PriceLos Altos Hills Market ActivityMountain View Median PriceMountain View Market Activity

Topics: Commentary, Market Trends, Monthly Snapshots      Comments Off