I hope you are safe and healthy during these difficult months. We are spending more time than ever at home working and going to school. This has reprioritized homeowners wants and needs. Buyers are looking for larger yards with pools. Home offices and gyms are also in high demand.
Despite the changing environment, the local market remains healthy. When homes are priced correctly they are selling quickly often still with multiple offers. In an effort to pass on timely information below is a summary of the local market conditions.
As always I strive to provide unique, personalized service to buyers and sellers to help them navigate the current market. Please reach out if you want more information or would like to discuss further.
September 2020 Market Update
Focusing on Palo Alto, Los Altos, Los Altos Hills, Menlo Park, Atherton, Woodside & Portola Valley
In the Menlo Atherton area, the number of listings going into contract in the second week of August (before the fires) and in the fourth week (deep in crisis) were virtually the same. And activity has actually jumped up in the first week of September.
Bay Area luxury home markets: Year-over-year summer sales volumes and percentage changes. Broken out as a separate market, the Menlo Atherton area saw a substantial 43% Y-o-Y increase in sales.
Demand Remains Strong