September 2010 Market Trends
The charts on the next page show the median sales prices for the third quarter of each year, ’01 through ’10.
At the bottom of the charts, you will see the average number of days it took to sell that quarter, plus the average percentage of list price received by sellers during Q3 of each year. Currently we are experiencing a “balanced” market – 2 to 4 months of supply of homes for sale in the Palo Alto / Los Altos area – favoring neither the buyer nor the seller. However, the most attractive – and attractively priced – homes are receiving multiple offers.
|SELLERS||If you are thinking of selling your home it is once again a good time to do so as buyers are buying when the home is accurately priced to market value and there are not too many negative issues regarding the property.|
There is still above average inventory of homes for sale and this is a great time to take advantage of extremely favorable interest rates. Look for homes with the fewest “irremediable” issues.
Data was gathered from MLSlistings.com