City reports for Palo Alto, Los Altos, Los Altos Hill, Saratoga, Monte Sereno and other areas to view and download.
County-wide prices were fairly stable over the past two year period. Sales are also steady, but inventory is down to about 1/2 of what it was in 2010 and 2009 at the same time.
Los Altos Hills and Palo Alto Hills prices are flat since mid-2009. There were slightly more sales in the summer of 2011 than in the previous years with homes under $3mil being the best sellers. Homes above the $3mil often require marketing for well over 6 months. Inventory is only slightly down compared to previous years.
Palo Alto and Los Altos have experienced an increase in average and median prices during 2011and slightly smaller inventories with steady demand from buyers. Competitive offers are common again!
Saratoga and Monte Sereno are very stable. Prices are about flat since 2009 and 2011 inventory was slightly down compared to 2009 and 2010.
The market is doing well overall. While there are still foreclosures hitting the market, in the more affluent neighborhoods with the best schools the numbers are small and the impact is almost negligible on prices. On the other hand, in some areas of San Jose, prices will likely remain depressed in 2012.