Sellers Are Still Holding Back
In spite of record sales prices, most potential sellers are still waiting (for the top?) to put their homes on the market. Inventories of homes for sale are at an all-time low! The imbalance of supply and demand has caused homes to continue to sell with multiple offers, well over the asking price and in record time (see the average days on market in the following charts).
In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of October 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.