Market Pause or Fundamental Change?
During the spring of 2015 and 2016, the number of homes for sale rose in most communities. Each year this inventory increase caused local Realtors and their buyer clients to wonder if the increase signaled a fundamental change to a slower market. In 2015 the market remained strong as inventory levels dropped and demand remained strong over the summer months. Will the market behave similarly this year? Or will potential conditions like more homes for sale or higher interest rates reduce demand? There is a split of opinion among agents currently. I will keep you posted on the latest statistics during the summer!
In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of May for Los Altos, Palo Alto, 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 me.