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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.
Median Sales Price | March 2011
While the median home sales price for San Mateo and Santa Clara Counties are down from last year, the communities of Los Altos, Palo Alto, Menlo Park, and Los Altos Hills are up! Here are charts for March from 2002 to 2011.
March 2011 Market Snapshot
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 March 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 March of 2011 the inventory of single family homes for sale in the Palo Alto / Los Altos / Menlo Park area continued to decline. As (local) consumer confidence improves, home owners are in less of a hurry to sell and buyers are more motivated to buy. Meanwhile, total sales in Los Altos Hills and Palo Alto increased significantly from the past three years. Median sales prices were also up in all four areas.
The market is definitely heating up. In Palo Alto, Los Altos, and Menlo Park the market can now be officially classified as a “Seller’s Market” – meaning that there is less than a two month supply of homes for sale. Los Altos Hills is near to a “Balanced Market” for the first time in four years. Regardless of what may be happening in the rest of the Bay Area and USA, the housing market is definitely alive and well here!
February 2011 Market Snapshot
ShareHome 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.
COMMENTARY
ShareJanuary 2011 Market Snapshot
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.
COMMENTARY
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.
2010 REVIEW & 2011 MARKET FORECAST
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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.