Posts Tagged ‘Palo Alto real estate’

Palo Alto is Hot!!! and Pebble Beach is Not!!! A Property Update City by City June 1 to 21 2011

Currently it’s still a buyers market in many areas around  the South Bay and Peninsula.  All the doom and gloom that the media keeps telling  you, helps to keep it that way.   Homes are still selling believe it or not.  Even places that I thought would never sell, are selling.   Interest rates are staying pretty consistent and are extremely low.  There are a lot of decent homes on the market, but the ones that are priced right and look good,  sell quickly.
We are still seeing the Cupertino  and Palo Alto areas doing extremely well, typically at or above list price.  The bottom of our list is the Pebble Beach / Carmel areas, which still, are having  a hard time rebounding.  This could make that area possibly a great buy for someone looking for a second or retirement  home.  Homes in Los Gatos and Monte Sereno month to date, have on average sold within 3% of the original asking price.   That number is important to remember in helping  you gauge how the market is doing. I feel that 3% is within the range of a normal market place.  Campbell is also doing well due to it being a great place to live.  Many parts of Campbell actually have very schools which many people are starting to realize.  Plus you get a lot more house for money compared to the other cities on my list.
Feel free to contact me with any real estate questions you may have?

Click the image below to view  the  city by city sales update.