Thursday, December 20, 2007

Sales strong, inventory low

It's been a while since my last post but in that time, the typical December pattern has continued on. The inventory of single-family homes in Los Altos is 28 which is about 2/3 of what it was last year. We have had a few new homes come on the market in the last couple of weeks including a nice new home on Benevenue priced at $2.898M. However, the homes priced under $2M have sold the fastest and there are only 6 homes left under $2M.

The sales activity is also strong. Homes that are priced well have still sold quickly including a few new listings that sold in about 10 days. A good example is the home on La Prenda. It sold fast because it was priced well. The listing price was $1.325M and it sold for $1.5M. For you future sellers out there, consider asking for less - you'll usually get more.