The proof is in the numbers, and the good news locally is that the market is UP compared to 2009! Here’s the first of several Third Quarter updates for our local communities.
Palo Alto
Overall market trends are favorable, and this year we are even seeing recovery in the very high end (over $4 million) of the market. In 2007 there were 18 sales of $4 million and over reported by the Multiple Listing Service. In 2008 there were 9 and the number dropped to 3 in 2009. To date in 2010 there have been 7 sales in excess of $4 million reported by the Multiple Listing Service.
Palo Alto | Year-to-Date Sales | ||
Q3 2009 | Q3 2010 | Change | |
# of Closed Sales | 275 | 314 | 14% |
Average Sales Price | $1,484,000 | $1,600,000 | 8% |
North Palo Alto | Year-to-Date Sales | ||
Q3 2009 | Q3 2010 | Change | |
# of Closed Sales | 103 | 123 | 19% |
Average Sales Price | $1,741,000 | $1,977,000 | 14% |
Carol & Nicole