Jeff Stricker & Steve Tenbroeck
Alain Pinel
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Welcome

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.

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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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 Read the rest of this entry »

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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.

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2014 Was Another Bullish Year!

The current tech boom has brought lots of jobs and money to our area once again. As a result, home sellers in 2014 were handsomely rewarded. Using the average of all 14 cities and towns listed below, here’s how 2014 compares to 2009: The number of homes sold was up by 16% while the number of homes for sale was down by 23%. The average “days on market” was down by 59%. All of this activity is eerily similar to the 2000 real estate market. Is this another bubble in the making?  We believe more of a cyclical top than a bubble.

The strength of the real estate market is controlled by supply and demand. As the numbers below illustrate, in 2014 demand was UP while supply was DOWN. The tech boom is one of the few financial bright spots globally and is attracting a lot of money, talent, and jobs to our area – which explains the demand side. The reason the supply of homes for sale was down is that owners who saw their home values rising at the greatest rate since 2000 were in no hurry to sell. All of this made it especially difficult for buyers in 2014 as multiple offers and extreme overbidding were the norm. And nearly half of the sales in the high-demand areas were “all-cash”!

Annual 2014 Market Snapshot 1 Annual 2014 Market Snapshot 2

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