A year ago today there were 71 single family homes in Palo Alto listed for sale on the mls. Today, there are only 42.   Mountain View is experiencing a similar market, where there are only 13 single family homes on the MLS. A year ago there were 36.  As a result, we’re seeing multiple offers more often than not.

The under $1 million market in Palo Alto is strong. Last night, a 784 square foot, 2 bedroom, 1 bath home on a 2614 sq. ft. lot in the downtown area, listed at $899,000, received 5 offers!  However, this is a special property, in that it’s zoned for commercial use. Last month we saw 11 offers on a charming 2 bedroom bungalow on Stanford Avenue in the College Terrace neighborhood. Listed at $759,000, it closed today at $949,000.

This entry was posted on Friday, April 6th, 2007 at 1:19 pm and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.