Q2 Market Update – All Time High for Palo Alto!

 

Palo Alto and Vicinity Real Estate Gets Hot!
In spite of being in the midst of a “Great Recession”, Palo Alto Real Estate has set a new high in median sales prices for both the 2nd quarter and June sales. Los Altos and Menlo Park are not far behind and are likely to set new records soon, as well. The local high tech economy is booming and housing is benefiting from the increased demand and limited inventory of homes to sell. Of course, a meltdown in the national and world markets would likely dampen buyers’ enthusiasm, but that is what it would likely take to turn around the current buying frenzy.
Bottom line: if you’re thinking of selling, now’s the time!

In spite of being in the midst of a “Great Recession,” Palo Alto Real Estate has set a new high in median sales prices for both the 2nd quarter and June sales. Los Altos and Menlo Park are not far behind and are likely to set new records soon, as well. The local high tech economy is booming and housing is benefiting from the increased demand and limited inventory of homes to sell. Of course, a meltdown in the national and world markets would likely dampen buyers’ enthusiasm, but that is what it would likely take to turn around the current buying frenzy.

Bottom line: if you’re thinking of selling, now’s the time!

Palo-Alto-Median-Sales-2nd-Quarter-2011Los-Altos-Second-Quarter-2011-

Los-Altos-Hills-Second-Quarter-2011

Menlo-Park-Second-Quarter-2011