Palo Alto real estate is having a happy 2012!
Yes, I know it’s only been just over two weeks into the new year, but sales in Palo Alto have been very strong compared to the past couple of years. The entire month of January 2011 had a total of 17 closed sales, January 2010 had 23 closed sales and January of 2009 had only 12 closed sales for the entire month. Well, so far in the first two weeks of January 2012, there has already been 19 closed sales as of January 16th. Obviously, it’s no guarantee that the rest of the month or year will stay on the same surge, but it’s definitely a good sign for real estate and the economy.
There is also a general buzz around our offices at the activity that is happening and the amount of buyers that are out there aggressively looking to buy or in the process of buying. This hasn’t happened in several years so we are all working harder than ever to make sure our buyers don’t miss out on any opportunities, as they are going quickly! My guess is that this will cause prices to rise due to the number of buyers compared to the number of homes available for sale. A good sign for sellers as I would suggest getting your home on the market within the next two months to take advantage of the situation.
If you are interested in listing your home for sale or finding a home, please give me a call. The above numbers don’t include the very active “off market” transactions that are happening at a higher than normal rate as well. We have a nice supply of those too!