The Homes for Sale Drought Continues!
August saw a repeated lack of homes for sale. For many reasons, home owners are staying put. The demand for homes greatly outstrips supply and the “Seller’s Market” condition continues. Multiple offers and over-bidding remains the standard for rationally priced properties. Homes on busy streets and homes with odd floor plans have no problem finding buyers in today’s market.
Now’s the time. Don’t wait and miss this opportunity.
Select carefully. It’s better in the long run to “over pay” for a well-located home with few defects than to accept a property with irremediable issues because it seems like a “good deal”.
In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of August 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.