February 2013 Market Snapshot: The Hottest Real Estate Market since Y2K!
2000 was the only year out of the last 15 that had a stronger real estate market than we’re experiencing today. The average sale price was 20% over asking price in Palo Alto, Los Altos, and Menlo Park in February 2000. And while we didn’t see sales prices average 20% over the asking price, in February 2013, Los Altos, Palo Alto, Menlo Park, and Mountain View all had record high median sales prices.
Here is another interesting comparison:
- Palo Alto median sales price is up by 350% in the last 15 years.
- Los Altos median sales price is up by 240% in the last 15 years.
- The Dow Jones Industrial Average is up by 44% in the last 15 years.
In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of February for Palo Alto, Los Altos, 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 us.