September Stays Hot!
The lack of homes for sale continued through September and it remained a “Seller’s Market”. New record lows were set in many local towns while new highs were established for median sales prices. The question in everyone’s mind now is, “How will the economic stalemate and government shutdown impact the local housing market?” Since the housing market changes direction much more slowly than other markets, we’ll have to wait to see how October and November play out.
Now’s the time. Don’t wait for the inventory of homes for sale to climb.
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 simply 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 September 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.