Palo Alto Housing Market – Second Quarter 2010 Update
by Alex Wang on Aug 10, 2010 | 2 Comments »
(single-family home data from MLS listings Inc.)
Because Palo Alto has a wide range of home prices, the entry-level market remained strong as buyers looked for bargains and the high-end market slowly recovered through the second quarter of 2010.
The median sales price in Palo Alto is 5.3% lower than the same period in 2008, at $1,468,000. A huge jump of 82.2% from last quarter and just 5.5% lower than in 2008 was realized in total sales volume, at $205,188,388. Average days on market is just over a month and there were 123 sales this past quarter, similar to 2008.
Palo Alto holds its title as a premier housing market with the highest total sales volume of our four comparison cities, and will continue to become increasingly difficult for buyers to enter the market as the sales price to list price ratio continues its rise to 100%.
Categories: Market Updates, Palo Alto, Silicon Valley News
Alex,
It would be really cool to see the YTD comparison from 07-10. That would really help paint the complete picture.
Thank you for posting this GREAT info!!
What do the foreclosure numbers look like for Palo Alto Real Estate?
Best,
Louis Stone-Collonge
Keller Williams Silicon Valley
http://stonecollonge.typepad.com
http://www.stonecollonge.com
Thanks Louis. Great recommendation, we’ll probably do that at the end of this year.
As for your questions about PA foreclosures… what foreclosures? :)