The Palo alto Real estate Market activity continue to be strong for this time of the year.
We are selling more houses than we are listings.
Our listing inventory went down from 32 active listings last week to 30 active listings as of today.
We only had 6 active new listings last week, 8 houses changed status to pending and 8 listings closed escrow.
Four of the listings that were listed last week and sold within 7 days.
1435 Channing was listed, sold and closed escrow $100,000 above asking on the same day.
In cases like that, the listing agent usually has a buyer before the property is listed on the mls.
The listing agent enter the listing on the multiple listing service only for comparable information purpose .
I expect that our inventory to continue to go down as we approach the end of the year.
Some listings are selling off market.
Barring any major bad economic crisis, I expect a strong real estate market for 2012.
ACTIVE NEW LISTINGS FOR THE LAST WEEK:
PENDING LISTINGS FOR LAST WEEK:
HOUSES THAT CLOSED ESCROW LAST WEEK: