The Same Old Bull
Our “bullish” housing market continued in November. Median sales prices were up from a year ago by 23% in Menlo Park and up 20% in Palo Alto. Sales volume continues to shrink as there are very few homes for sale. However, the number of homes for sale was up slightly in Palo Alto, Los Altos, and Menlo Park from last November’s all-time-low inventory. The market is nervous, however, and poised to reverse sharply when the slowdown comes. When that will be is – of course – unknown.
In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of November 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.