Real Estate Market Blog: January 2015

 

Insights on the real estate market trends on the Mid-Peninsula: Portola Valley, Woodside, Atherton, Menlo Park, Palo Alto, Los Altos and Los Altos Hills.

January 2015 Real Estate Update: Year-End Review

January 14, 2015
Ginny Kavanaugh
What a year 2014 was for the real estate industry. Across the board, up and down the Peninsula, median prices increased, homes sold quickly, and sales were strong – and would have beeneven stronger had there been more homes available for sale. The lack of inventory was an ongoing problem for buyers throughout the entire year. As a result, the norm became multiple offers and sales over list price for the majority of homes sold. Check out the year-end reviews below for more specifics on how 2014 compared to years past in Portola Valley, ...

2015 Housing Market Outlook: Experts Forecast More Sales and Gradual Price Increases

January 08, 2015
Ginny Kavanaugh
Home sales across the Bay Area and all around the country were slowed in 2014, in large part by a shortage of properties on the market. That same dynamic pushed home prices much higher in many areas, even leading to multiple offers and bids over asking price for some homes. But as we begin 2015, many industry experts are forecasting a more balanced and normalized housing market, one that sees home sales rising once again and price increases moderating as more homes come on the market for sale. If the forecasts hold true, this could be ...