PALO ALTO MARKET ACTIVITY- WEEK IN REVIEW

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:

Address Area	List Price List Date	BR	FBA	PBA	SqFt
746 SAN CARLOS COURT 234 Midtown Open House: Sun 1:30 PM-4:00 PM	$820,000 12/10/2011	2	2	0	1,012
971 MADDUX DRIVE 233 South Palo Alto Open House: Sat. December 17,Sun. December 18 1:30-4:30pm	$1,195,000 12/9/2011	4	2	0	1,304
742 MELVILLE AVENUE 240 Community Center	$4,295,000 12/8/2011	4	3	1	4,000
3665 RAMONA CIRCLE 233 South Palo Alto	$1,489,000 12/7/2011	4	2	0	1,646
1820 ASH STREET 236 College	$1,149,500 12/7/2011	1	1	0	570
2615 COWPER STREET 234 Midtown	$2,388,000 12/7/2011	4	3	1	2,535

PENDING LISTINGS FOR LAST WEEK:

Address Area	List Price List Date	BR	FBA	SqFt	Close Date
2505 GREER ROAD 233 South Palo Alto	$1,198,000 11/30/2011	3	2	1,356	1/6/2012
976 ELSINORE DRIVE 238 Green Gables	$1,298,000 11/30/2011	4	2	1,636	1/17/2012
3395 LOUIS ROAD 233 South Palo Alto	$1,199,000 11/28/2011	4	2	1,659	1/23/2012
959 OREGON AVENUE 238 Green Gables	$1,199,000 11/10/2011	4	2	1,639	1/11/2012
3726 CARLSON CIRCLE 233 South Palo Alto	$1,275,000 11/9/2011	4	2	1,848	1/10/2012
1635 ALMA STREET 237 Old Palo Alto	$799,000 10/13/2011	2	1	924

HOUSES THAT CLOSED ESCROW LAST WEEK:

Address Area	List Price List Date	Sale Price Con. Date	BR	FBA	PBA	SqFt	Close Date
1435 CHANNING AVENUE 239 Crescent Park	$1,000,000 12/8/2011	$1,100,000 12/8/2011	2	1	0	1,223	12/9/2011
255 EDLEE AVENUE 233 South Palo Alto	$1,100,000 10/25/2011	$1,100,000 11/10/2011	3	1	1	1,418	12/9/2011
130 HEATHER LANE 238 Green Gables	$1,950,000 10/16/2011	$2,030,000 10/29/2011	4	3	0	2,115	11/29/2011
554 DRISCOLL PLACE 232 Barron Park	$949,000 10/12/2011	$934,000 10/23/2011	3	2	1	1,559	12/6/2011
4160 BRIARWOOD WAY 233 South Palo Alto	$1,480,000 9/14/2011	$1,480,000 9/29/2011	5	3	1	2,433	12/9/2011
2455 CHABOT TERRACE 233 South Palo Alto	$998,000 8/4/2011	$926,250 10/19/2011	3	2	0	1,386	11/22/2011
1184 PALO ALTO AVENUE 239 Crescent Park	$5,850,000 7/6/2011	$5,445,000 11/9/2011	4	3	1	4,240	12/6/2011
2590 BRYANT STREET 234 Midtown	$1,545,000 4/27/2011	$1,512,500 9/3/2011	2	1	0	1,259	12/9/2011