September 2012 Market Snapshot – Hot Market, Year Two
Now that we are three quarters of the way through the second year of a very hot local real estate market, we have to wonder. Is 2012 more like 2000 or 2005? Both of those years were second years of very hot markets, too. However, 2000 was the end of that hot market (the dot-com bust) while 2005 was the second year of a four-year hot market run. There is, of course, no way to know in advance. For that reason, real estate purchases and sales need to be considered long range decisions.
In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of September for Palo Alto, Los Altos, Los Altos Hills and Menlo Park. 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.