Real Estate Market Blog: August 2016

 

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.

August 2016 Real Estate Update

August 24, 2016
Ginny Kavanaugh
Contrary to the popular belief that sales lag in the summer, the real estate market in quite a few of the local cities and towns performed quite well this year. I anticipate the inventory to increase after Labor Day with sellers wanting to get their home sold before the holidays. Since July 1, 6 homes closed escrow and another 7 homes went into contract and are now pending sale. While sales remain strong, the days on market increased to an average of 46 days for the 13 homes that sold. Despite the fact that only 1 of the July homes sold ...