November Market Trends
The “bullish” housing market continued in November. The primary difference from last year is a softening of the average list price received by sellers (102.1% vs. 111.9% in Palo Alto). We believe this was caused by sellers of poorly located properties or homes in poor condition trying to get as much for theirs as sellers of well-located and well-kept homes. Los Altos had the lowest inventory of homes for sale ever with just four homes for sale! It’s a great time to be a seller.
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.