Market Heating Up In Palo Alto & Los Altos

Over the past several weeks,  multiple offers have been occurring with increasing frequency in the $1.5m and below housing market. For example, a home in the Green Gables area of Palo Alto was listed for $1.34m two weeks ago and sold with six offers for $200k over the asking price (all cash). A home in South Los Altos was listed last week for $1.2m sold significantly over asking price with 18 offers!

See ourMarket Trends page on our

Mainstreetlosaltos

Main Street - Los Altos

website for more info.

And homes in the over-$2m market are selling more quickly, too.  My friend Kevin Boer (and former Alain Pinel Realtors colleague)  referenced a blog post by Chris Iverson  noting that there’s still a good selection in the over-$3m market for those that hurry.

Happy days are here again (for sellers)! Now the big questions: How long will this continue?

Jeff Stricker & Steve TenBroeck