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Deniece Watkins Smith
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Los Altos, Los Altos Hills, Mountain View, Palo Alto,
Portola Valley, and Sunnyvale
Real Estate Market Update
  January 23, 2012
by Deniece Watkins Smith, Realtor®, ePro, SRES
   "We have not had this little inventory in Santa Clara County since 2005," is what was shared with us today in our staff meeting.  Then, there was a show of hands for how many agents feel like interest rates will go up by half of a percent by the beginning of 2013 and it was almost unanimous.  The Dow Jones performance has been averaging positive for approximately three months now.  We know that a large percentage of homes are being sold with multiple offers, including one in Mountain View in the $750k range that got 16 offers and went way above asking price.  Could these be enough indicators to say that we have hit the bottom?  Are these enough signs to say that this is the right time to buy?  Time will tell.
     Here are the numbers for our local cities a of January 23, 2012.
                                               - Deniece Watkins Smith, Realtor®

Information provided below is extrapolated from reil.com. It is deemed reliable, but not guaranteed.


Change since

Los Altos 1/23/2012 6/25/2011 Lowest Price Highest Price
Active 29 -33  $      1,125,000  $   4,495,000
Pending Show 4 -8  $      1,099,000  $   2,795,000
Pending Release 3 1  $      1,179,000  $   1,975,000
Pending 7 -15  $         995,000  $   2,500,000
Total Pending 14 -22
 
Total Listings 43 -55
 
Percent Pending 33% -4%  2 Short Sales   
 
Change since
 
Los Altos Hills 1/23/2012 6/25/2011 Lowest Price Highest Price
Active 27 -28  $      1,699,000  $ 12,500,000
Pending Show 3 -7  $      3,499,000  $   4,488,000
Pending Release 2 1  $      2,499,999  $   6,395,000
Pending 2 -2  $      2,099,000  $   3,200,000
Total Pending 7 -8
 
Total Listings 34 -36
 
Percent Pending 21% -1%  1 Short Sale   
 
Change since
 
Menlo Park 1/23/2012 6/25/2011 Lowest Price Highest Price
Active 32 -31  $         199,900  $   3,999,999
Pending Show 6 -14  $         319,500  $   3,998,000
Pending Release 10 -6  $         215,000  $   1,299,000
Pending 13 -18  $         245,000  $   2,490,000
Total Pending 29 -38
 
Total Listings 61 -69
 
Percent Pending 48% -4%  17 Short Sales   3 REOs 
 
Change since
 
Mtn View 1/23/2012 6/25/2011 Lowest Price Highest Price
Active 24 -13  $         434,900  $   1,760,000
Pending Show 7 -9  $         775,000  $   1,398,000
Pending Release 7 3  $         625,000  $     999,900
Pending 18 -3  $         390,000  $   1,395,000
Total Pending 32 -9
 
Total Listings 56 -22
 
Percent Pending 57% 5%  5 Short Sales   5 REOs 
 
Change since
 
MV Townhomes 1/23/2012 6/25/2011 Lowest Price Highest Price
Active 37 -27  $         149,000  $     938,000
Pending Show 15 3  $         459,000  $     735,000
Pending Release 12 -10  $         280,000  $     630,000
Pending 9 -12  $         210,900  $     779,000
Total Pending 36 -19
 
Total Listings 73 -46
 
Percent Pending 49% 3%  20 Short Sales   8 REOs 
 
Change since
 
Palo Alto 1/23/2012 6/25/2011 Lowest Price Highest Price
Active 26 -29  $      1,085,000  $   8,195,000
Pending Show 7 -4  $      1,149,000  $   4,250,000
Pending Release 1 -3  $      1,149,500  $              -  
Pending 19 -13  $         820,000  $   2,395,000
Total Pending
0
 
Total Listings 53 -49
 
Percent Pending 51% 5%  2 Short Sales   0 REOs 
 
Change since
 
Portola Valley 1/23/2012 6/25/2011 Lowest Price Highest Price
Active 22 -7  $         749,000  $ 15,950,000
Pending Show 0 -5  $                 -    $              -  
Pending Release 0 -1  $                 -    $              -  
Pending 3 1  $      1,498,000  $   4,250,000
Total Pending 3 -5
 
Total Listings 25 -12
 
Percent Pending 12% -10%  0 Short Sales   1 REOs 
 
Change since
 
Sunnyvale 1/23/2012 6/25/2011 Lowest Price Highest Price
Active 52 -44  $         279,000  $   1,498,000
Pending Show 15 -22  $         385,000  $   1,128,000
Pending Release 33 2  $         299,000  $     830,000
Pending 19 -12  $         299,999  $   1,099,000
Total Pending 67 -32
 
Total Listings 119 -76
 
Percent Pending 56% 6%  41 Short Sales   8 REOs 


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