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 comprehensive historical data, current market analysis, and extensive insight to stay informed and succeed in these real estate markets.
As a service to his clients, Jeff Stricker provides his personal market analysis and commentary on local real estate trends.
- Market Pause or Fundamental Change? June 17, 2016
During the spring of 2015 and 2016, the number of homes for sale rose in most communities. Each year this inventory increase caused local Realtors and their buyer clients to wonder if the increase signaled a fundamental change to a slower market. In 2015 the market remained strong as inventory levels dropped and demand remained strong over the summer months. Will the market behave similarly this year? Or will potential conditions like more homes for sale or higher interest rates reduce demand? There is a split of opinion among agents currently. I will keep you posted on the latest statistics during the summer!
In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of May for Los Altos, Palo Alto, 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 me.
- April Market Trends May 26, 2016
During April, most communities experienced increases in the number of homes for sale as well as the number of homes sold. The balance between available homes for sale and homes sold allowed market conditions to remain strong overall.
However, taking a closer look at the statistics, fewer homes are selling with multiple offers this year. With less competition, homes are selling for less over the asking price. These results indicate that potential homebuyers are being more discriminating in 2016, and the strength of activity for a given home depends to a greater extent on the attractiveness of its features and price. These dynamics are very typical of a mature market where home values have gone up dramatically, and are likely to continue during the coming months. I will keep you updated on these emerging trends.
In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of April for Los Altos, Palo Alto, 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 me.