Palo Alto Home Sales Stay Strong

Home sales in Palo Alto for the 3rd quarter in 2010 remained up compared to the same time period in 2009. The total number of homes sold as well as the prices were up a strong 10%.  When you combine that with the numbers showing the average days on market for the sale of a home in Palo Alto were down 15%, you have the feeling that inventory is still moving and buyers still want to be in this beautiful city.  The leaves are falling and temperatures are cooling, but the real estate market is staying on the hot side as multiple offers are still happening.  Let’s hope for a good final quarter of the year.

Palo Alto                              3rd Q/09                             3rd Q/10                        Change
# of Sales                                 105                                        116                                  10%
Average Price ($000)    $1,463                               $1,616                                10%
Average DOM                         59                                         50                                   -15%