July Market Trends
What an amazing three year run of appreciation in our local housing market! The July stats confirm this. One number that stood out to us, however, was an increase in the inventory of homes for sale in Palo Alto at the end of July. This is the first year over year inventory increase in five years.
Does this indicate a coming shift in the housing market? Or is it merely a seasonal anomaly?
We’ll know come September when the (usually strong) fall market commences.
In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of July 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.