WEEK IN REVIEW: ACTIVE LISTINGS, PENDING AND SOLD LISTINGS

13 new listings of single family homes were listed last week in Palo Alto as oppose to 12 listings the week before. The total active listings of single family homes on the MLS  is now 56 as oppose to 55 the week before. 
Although our inventory is better, houses are still selling at significantly higher prices than last year. The median sale price so far for 2012 is $1,702,000 as oppose to $$1,428,000 for 2011. A whopping  19% above last year. 
12 listings changed status to pending as oppose to 10 last week and 10 closed escrow this week as oppose to 14 listings the previous week.
Please note that all  listings sold significantly above asking price but one listing, it is worth noting that the number of multiple offers are going down.

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 13 Pending 12 Sold 10

ACTIVE NEW LISTINGS

Address Area	List Price List Date	BR	FBA	PBA	SqFt
1840 HAMILTON AVENUE 238 Green Gables	$1,875,000 6/24/2012	5	3	0	2,627
727 SEMINOLE WAY 233 South Palo Alto	$1,095,000 6/21/2012	3	2	1	1,584
3449 KENNETH DRIVE 233 South Palo Alto	$1,298,000 6/21/2012	4	2	0	1,698
1054 ARROWHEAD WAY 233 South Palo Alto	$1,279,000 6/21/2012	3	2	0	1,640
1578 CHANNING AVENUE 238 Green Gables	$1,425,000 6/21/2012	3	2	0	1,383
1780 NEWELL ROAD 238 Green Gables	$2,880,000 6/21/2012	4	3	1	2,600
1090 MORENO AVENUE 233 South Palo Alto	$1,699,000 6/20/2012	4	3	1	2,197
2300 2308 AMHERST STREET 236 College	$2,645,000 6/20/2012	3	3	0	2,827
2570 WEBSTER STREET 234 Midtown	$1,498,000 6/20/2012	3	1	0	1,258
521 LOWELL AVENUE 237 Old Palo Alto	$4,498,000 6/20/2012	5	4	1	3,782
1038 LOMA VERDE AVENUE 233 South Palo Alto	$1,449,950 6/20/2012	4	2	0	1,494
765 MORENO AVENUE 234 Midtown	$2,698,000 6/19/2012	4	3	1	3,114
2273 SAINT FRANCIS DRIVE 238 Green Gables	$1,198,000 6/19/2012	3	2	0	1,229

PENDING LISTINGS:

Address Area	List Price List Date	Sale Price Con. Date	BR	FBA	PBA	SqFt	Close Date
863 MORENO AVENUE 233 South Palo Alto	$1,449,000 6/13/2012	N/A 6/21/2012	4	3	0	1,970	7/6/2012
2075 BOWDOIN STREET 236 College	$799,000 6/11/2012	N/A 6/23/2012	2	1	0	800	7/20/2012
1302 GREENWOOD AVENUE 240 Community Center	$2,198,000 6/11/2012	N/A 6/22/2012	3	2	0	1,751	7/6/2012
655 HALE STREET 239 Crescent Park	$2,290,000 6/7/2012	N/A 6/19/2012	3	2	0	1,780	7/2/2012
1650 BRYANT STREET 237 Old Palo Alto	$3,295,000 6/6/2012	N/A 6/22/2012	5	3	0	3,172	7/2/2012
2768 GREER ROAD 233 South Palo Alto	$1,398,000 6/6/2012	N/A 6/15/2012	4	2	0	1,496	7/14/2012
830 LYTTON AVENUE 239 Crescent Park	$2,455,000 5/30/2012	N/A 6/20/2012	4	3	1	2,370	7/23/2012
868 LINCOLN AVENUE 240 Community Center	$2,495,000 5/16/2012	N/A 6/21/2012	4	3	0	2,395	7/20/2012
446 RUTHVEN AVENUE 242 Downtown Palo Alto	$2,488,000 5/15/2012	N/A 6/10/2012	4	3	0	1,889	7/11/2012
450 EL ESCARPADO 243 Stanford	$3,350,000 5/9/2012	N/A 6/22/2012	7	4	2	4,188	7/13/2012
2275 AMHERST STREET 236 College	$2,995,000 4/24/2012	N/A 6/19/2012	7	3	1	3,162	7/13/2012
3187 ALEXIS DRIVE 230 Palo Alto Hills	$4,395,000 4/20/2012	N/A 6/19/2012	4	3	1	5,475	7/13/2012

SOLD LISTINGS:

Address Area	List Price List Date	Sale Price Con. Date	BR	FBA	PBA	SqFt	Close Date
2371 GREER ROAD 238 Green Gables	$995,000 5/25/2012	$1,210,000 6/8/2012	2	1	0	850	6/19/2012
1856 CHANNING AVENUE 238 Green Gables	$1,398,000 5/17/2012	$1,450,000 5/25/2012	3	2	0	1,455	6/22/2012
1734 FULTON STREET 238 Green Gables	$4,450,000 5/17/2012	$4,450,000 6/14/2012	4	4	0	3,600	6/22/2012
1563 MARIPOSA AVENUE 236 College	$1,195,000 5/14/2012	$1,100,000 6/2/2012	2	1	0	1,061	6/18/2012
2361 LOUIS ROAD 238 Green Gables	$1,488,000 5/10/2012	$1,625,000 5/16/2012	3	2	0	1,280	6/20/2012
1451 COWPER STREET 237 Old Palo Alto	$1,195,000 5/9/2012	$1,240,000 5/24/2012	2	1	0	1,330	6/21/2012
745 OREGON AVENUE 238 Green Gables	$899,000 5/8/2012	$1,100,000 5/14/2012	2	1	1	1,519	6/21/2012
785 BARRON AVENUE 232 Barron Park	$1,195,000 4/28/2012	$1,248,000 5/29/2012	3	2	0	1,713	6/22/2012
863 BRUCE DRIVE 233 South Palo Alto	$1,598,000 4/24/2012	$1,680,000 5/3/2012	4	2	0	1,688	6/18/2012
305 EMERSON STREET 242 Downtown Palo Alto	$1,875,000 4/18/2012	$1,875,000 5/12/2012	3	2	1	1,968	6/12/2012