PALO ALTO REAL ESTATE MARKET - WEEK IN REVIEW

As expected this week activity was slow because of the Thanksgiving Holiday, we had no new listings in Palo Alto last week, but 4 properties had a change of status from active to pending. Two houses sold in 6 days: 2051 Emerson Street and 3385 Coark Oak Way.

Following are the listings that sold last week:

MLS #	List Price List Date	Sale Price Con. Date	Bed.	BA	SQFT
	2051 EMERSON STREET 237 Old Palo Alto	$4,798,000 11/17/2011	6	6	5,417
	3385 CORK OAK WAY 233 South Palo Alto	$1,325,000 11/16/2011	4	2	1,733
	3110 DAVID AVENUE 233 South Palo Alto	$995,000 10/25/2011	3	2	1,820
	518 FULTON STREET 239 Crescent Park	$1,250,000 9/6/2011	2	1	1,224

6 houses closed escrow last week in Palo Alto:

The house on 1190 Hamilton Avenue in Crescent Park was listed on 9/22/11 for $2,380,000 ; it was on the market for over a month and did not sell. The price was reduced to $2,100,000 and at that time received 6 offers and end-up selling for $2,375,000 and closed escrow in 2 weeks.

	Address Area	List Price List Date	Sale Price Con. Date	BR	FBA	SqFt
	190 EL DORADO AVENUE 234 Midtown	$998,000 10/12/2011	$1,075,000 10/20/2011	3	2	1,152
	1547 MARIPOSA AVENUE 236 College	$1,398,000 10/5/2011	$1,350,000 11/8/2011	4	2	1,948
	1190 HAMILTON AVENUE 240 Community Center	$2,100,000 9/22/2011	$2,375,000 11/9/2011	2	2	1,920
	1229 STANFORD AVENUE 236 College	$1,335,000 9/20/2011	$1,300,000 10/27/2011	4	2	1,847
	960 SOUTH CALIFORNIA AVENUE 236 College	$1,799,000 9/13/2011	$1,850,000 11/1/2011	4	3	2,209
	1430 CHANNING AVENUE 240 Community Center	$2,275,000 9/7/2011	$2,220,000 10/17/2011	4	3	2,547

The market is strong and very active for this time of the year. If you are planning to buy a house soon, it is an opportune time to buy if you find the right house.
I am aware of private listings that will be coming on the market after the Holiday Season.
Please contact me if you need further information.