Carol Carnevale • DRE# 00946687 • 650.465.5958
Nicole Aron • DRE# 00952657 • 650.740.7954
The first quarter of 2001 brought good news! In general, two key indicators, Number of Sales and Average Sales Price continue to trend up in our little corner of the world. Los Altos Hills and North Palo Alto were hot spots with growth in Number of Sales up substantially quarter over quarter while Average Sales Price was up in Los Altos Hills, Menlo Park, North Palo Alto and Palo Alto.
Overall brisk sales activity continues in all communities, and in Palo Alto the market is trending toward a “seller’s” market characterized by a shortage of available homes relative to demand by buyers. One of the most remarkable trends is the high-end Palo Alto market where there have been 20 closed sales in excess of $3.0 million during 2011 compared to 2 for the first part of 2010! If you are thinking about the sale of a Palo Alto home, this is a great time to consider placing your home on the market. If you are considering the purchase of a home, interest rates continue to be attractive. Currently there are interest rates of less than 5% for high balance conforming loans ($729,750).