April Market Trends
Is the Los Altos Market Having a “Melt Up?”
At the end of a real estate market cycle there is a quick, sharp rise in home prices. Home values surge past a 100% gain for the cycle, the cycle ends, and then prices correct downward 20-25 % on average during the following 2-3 years.
Are we at the “melt up” stage of the market cycle in the Bay Area? No one knows for sure, but peninsula home values have jumped by about 10% this spring. Prices have also more than doubled since the beginning of the cycle in 2009. Market corrections usually begin during the fall or spring. Watch this space for monthly updates.
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.