08 February, 2010

Monthly Market Update

♦ Although it is early to predict the trend of the Real Estate Market this year here are the numbers:

♦ The Palo Alto housing market was more active last January in comparison to the same period of last year.

♦The number of home sales in January of 2010 was 22 that is an increase from 12 sales in January of 2009.

♦However the medium home price declined in 2010, the medium sale price was $1,362,500 in 2010 as oppose to $1,372,500 last year.

♦The yearly inventory declined from last year: 76 total listings for this year as oppose to 85 listings for the same period last year.

♦We had 43 new listings this year which exactly similar to last year new listing inventory.

♦The average day on the market was also slightly higher than last year with 65 days for 2010 and 52 days for January 2009.

What can we deduct from these numbers? Although more houses sold this year than last year, it seems that our inventory is still low, It is taking longer for houses to sell, the prices are almost stagnant and there are no sign that the real estate market started yet its recovery.

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1 comment:

  1. Very good real estate stuff. I would like to visit again

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