The listing inventory remains low with only 17 new listings of single family homes coming on the market this week in Palo Alto as oppose to 25 new listings the week before ; the total active listings of single family homes on the MLS is 44 this week as oppose to 48 the week before.
the market remains a seller market. 21 listings changed status to pending as oppose to 16 listings last week and 9 closed escrow as oppose to 13 the previous week.
Please note that all listings sold significantly above asking price but one listing.
If you are planning to sell your home it is an opportune time to sell.
Following is the detail of the market activity in Palo Alto for last week:
ACTIVE NEW LISTINGS: