March Market Trends
Local real estate markets remained strong during March. New listings, homes sold, and prices were mostly up year-over-year in March. The inventory of homes remains at historically low levels in most communities. Interest rates have also slowly dropped to near-record lows: 3.75% for 30-year jumbo loans. This has created an uptick in buyer demand this spring. Currently, multiple offers are the norm and home prices are rising. I expect this to continue into the summer, when the market traditionally takes a breather. Kids are out of schools and mid-June to early August is all about vacations.
Would you like more specific market information about your neighborhood or home? I always enjoy providing complimentary in-depth information when needed. Also, if you need resources for home maintenance projects, I am happy to forward names of quality contractors to you. You can call or text me at 650-823-8057, or email me at firstname.lastname@example.org.
In the charts below, you’ll find 15 years of data for annual market activity and median sales price 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 me.