Whether you are a first time buyer or seller, or have been through multiple transactions, you might be surprised by how quickly the real estate market changes in Los Altos, Palo Alto and surrounding communities. You need hard-hitting historical data, current market analysis, and insider experience to stay informed and succeed in these real estate markets.
As a service to their clients, Jeff Stricker and Steve TenBroeck of Alain Pinel Realtors provide regular market analysis and commentary. You are invited to read the entries below, add your comments, ask questions or contact them directly.Share
Home sales data for Palo Alto, Los Altos, Los Altos Hills and Menlo Park have recently become available from MLSlistings.com. Here’s a look at data for February from the last 10 years and our commentary about what it means to you. If you would like information about another city or neighborhood, let us know.
Home sales data for Palo Alto, Los Altos, Los Altos Hills and Menlo Park have recently become available from MLSlistings.com. Here’s a look at data for January from the last 10 years and our commentary about what it means to you. If you would like information about another city or neighborhood, let us know.
In January of 2011 the inventory of single family homes for sale in the Palo Alto / Los Altos / Menlo Park area continued to fall. As consumer confidence improves, home owners are in less of a hurry to sell and buyers are more motivated to buy. The low sales in Los Altos and Palo Alto had more to do with the quality of the homes that were on the market in January. In other words if the homes had been accurately priced, given their location, size, and condition, there would have been many more home sales.Share
2011 Local Real Estate Market Forecast
All market factors point to a sharp uptick occurring in local prices during the first half of 2011. Last year, the number of sales, median sales prices, and percentage of list price received were up in almost all areas. In addition, it took less time for a home to sell in most areas. All of these factors are good leading indicators that buyer competition for homes will continue to be strong (barring a major economic shock of some kind) and sales prices will continue to rise.
As reported in Realty Times, Zillow recently released data showing a year-over-year decrease in national home values of 5%. While the information may be valid for national trends, it isn’t helpful for home owners and buyers. Suggesting that a single, national home value number has any relevance to what is going on in any local real estate market is just silly. In fact, if you look closer at Zillow’s data for Los Altos the town is up 3% over last year. All meaningful real estate statistics need to be segmented as locally as possible.
We invite you to check out our market trends page for accurate local information for Los Altos, Palo Alto, Los Altos Hills, Menlo Park and surrounding areas.
Did you catch the article — Tech health gauge at highest point since 2001 bust – in the Business section of the SF Chronicle on Friday, December 10?
The San Francisco Federal Reserve Bank’s measurement of the technology industry’s health is up 15% this year to the highest level since 2001! This is one of several reasons why home prices in Palo Alto and surrounding cities are doing so well. Read the rest of this entry »