Carol Carnevale • DRE# 00946687 • 650.465.5958
Nicole Aron • DRE# 00952657 • 650.740.7954
In our earlier post we reported on the first half of 2012 for cities where we work in San Mateo County. Here are the results for the cities where we work in Santa Clara County. The numbers are based on data reported to the Multiple Listing Service and they do not include real estate activity that is transacted “quietly” without the use of the Multiple Listing. In some cities such as Palo Alto this occurs with some frequency.
Here is the first half’s good news!
Los Altos experienced an increase in the number of sales year-to-date 2012 compared to 2011 and the Average Sales Price rose 15%. The highest sale reported to the Multiple Listing Service was $4,336,000.
Los Altos Hills
The number of sales in Los Altos Hills declined year-to-year while the Average Sales Price rose slightly. First Quarter 2012 sales were low compared to 2011, but the second Quarter’s sales equaled those in 2011. The highest sale price to date reported to the Multiple Listing Service was not recorded, but the list price for the property was over $14 million.
As noted above, there is a brisk “off MLS” market in Palo Alto so the Multiple Listing Numbers do not tell the “full story”. Per the Multiple Listing data, the number of sales in both North Palo Alto and all of Palo Alto are down. The Average Sales Price for all of Palo Alto is up approximately 7% while the data shows a slight decline in Average Sales Price for North Palo Alto. It should be noted that much of the “off-market” activity occurs in North Palo Alto, and the highest sale to date 2012 is in excess of $8 million and sold “quietly”.
North Palo Alto
Like the communities in San Mateo County, the busy market continued through July while the August pace has slowed down a bit.
We anticipate continued healthy activity for the remainder of the year.