Todays blog looks at pending sales data in Palo Alto,Menlo Park,Redwood City and San Carlos. This data is based on sales recorded in the Multiple Listing Service showing "pending status" within the past four weeks for single family homes.
The past four weeks have been very active with many buyers moving forward on properties that reflect value in a market that is driven by limited land.
Palo Alto data indicates 19 pending sales with an average list price of $1,482,395. The average days on market data indicates 61 days.
Menlo Park data indicates 30 pending sales with an average list price of $942,985. The average days on market data indicates 65 days.
Redwood City data indicates 53 pending sales with an average list price of $693,011. The average days on market data indicates 84 days.
San Carlos data indicates 18 pending sales with an average list price of $1,088,658. The average days on market data indicates 71 days.
It is important to realize that averages are just that: averages. For example, Palo Alto pending sales list prices ranged from $2,425,000 to $849,000. This data indicates a very active January market.
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