The listing inventory in Palo Alto continues to be at a historic low; the market remains a seller market
Buyers are facing multiple offers on prime listings that are price below the fair market value. As you can see below, buyers are paying in some cases hundreds of thousands of Dollars above the asking price.
By contrast our educated buyers are able to recognize when a listing is overpriced and are not willing to compete and pay above asking when these listings are priced on the high side.
Only 8 new listings of single family homes were listed on the MLS last week as oppose to 12 the week before. 14 listings changed status to pending as oppose to 12 the week before and 8 listings closed escrow as oppose to 9 listings the previous week.
If you are planning to sell your home it is an opportune time to sell.
Please contact me for a free market analysis to your home and to help you achieve your goals quickly and stress free .
Following is the detail of the market activity in Palo Alto for last week:
8
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1
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14
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8
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1
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New active listings for the past week:
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Pending Listings For The Past Week:
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Sold Listings Last Week:
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