A Sellers Dream Market
Again – extreme low inventory of homes for sale. Multiple offers, as is, no contingencies…40 to 50% of the offers have been “all cash” with a quick close and a free rent back for the sellers. A person with a loan of 75- or 80% doesn’t have prayer in this market. They have to wait for properties that are over-priced in most cases.
The percentage of list price received by sellers is the highest we have ever seen (at the bottom of the Sales Price graphs).
In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of March 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.