Palo Alto real estate may very well be a market entirely independent of all others. It is a land of cash buyers, multiple offers and no contingencies. We hear time and again of properties selling with twelve offers or more, including a recent sale of a tear down selling for nearly 500,000 over asking, with 38 offers! Here is a breakdown of market trends over the past year.
As you can see, prices in Palo Alto are up nearly 20% in one year. Is this sustainable? Only time will tell, but right now one thing is for sure: the Palo Alto real estate market is hot!
Here is an example of a classic luxury estate that is currently listed and is within the largest majority price point of homes sold in Palo Alto: 1734 Fulton Street
This blog is courtesy of The Dawn Thomas Team who is an award-winning Real Estate Agent team at Intero Real Estate Services in Los Altos 650-947-4661. We help nice people with selling and buying homes from Palo Alto to West San Jose!
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