Deniece
Watkins
Smith
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Los Altos, Los Altos
Hills, Mountain View, Palo Alto, Portola Valley, Sunnyvale
Real Estate Market Update
March 21, 2010
by Deniece Watkins Smith
|
An
historic
health care
reform bill was passed today by Congress. Opinions are strong
whether they be in opposition or support of the bill. This is our
health it's dealing with after all. It is refreshing to see
people passionate about their health. Although I'd like to see
peoples' passions stay focused on the health effects of the bill, the
financial effects stand out very prominently in the public's
mind.
The stock market will be effected by this new
change in law and depending on how the stock market reacts,
bonds, and therefore home loan interest rates, will also change.
Brandon Knapp of RPM Mortgage has an excellent Mortgage
Market
Guide that talks specifically to these effects this week.
Information provided below is extrapolated
from reil.com. It is deemed reliable, but not guaranteed.
|
|
|
Change
since |
|
|
| Los
Altos |
3/21/2010 |
11/9/2009 |
Lowest Price |
Highest Price |
| Active |
77 |
6 |
$
929,000 |
$ 6,850,000 |
| Pending
Show |
13 |
-2 |
$
999,000 |
$ 2,695,000 |
| Pending
Release |
7 |
4 |
$
999,000 |
$ 1,800,000 |
| Pending |
20 |
1 |
$ 1,050,000
|
$ 4,995,000 |
| Total
Pending |
40 |
3 |
|
|
| Total
Listings |
117 |
9 |
|
|
| Percent
Pending |
34% |
|
9 Short
Sales |
|
| |
|
Change since |
|
|
| Los
Altos
Hills |
3/21/2010 |
11/9/2009 |
Lowest Price |
Highest Price |
| Active |
70 |
17 |
$ 1,150,000
|
$ 19,500,000 |
| Pending
Show |
3 |
-1 |
$ 1,995,000
|
$ 6,000,000 |
| Pending
Release |
1 |
-1 |
$ 1,600,000
|
|
| Pending |
2 |
-2 |
$ 3,995,000
|
$ 4,475,000 |
| Total
Pending |
6 |
-4 |
|
|
| Total
Listings |
76 |
13 |
|
|
| Percent
Pending |
8% |
|
2 Short
Sales |
|
| |
|
Change since |
|
|
| Menlo Park |
3/21/2010 |
11/9/2009 |
Lowest Price |
Highest Price |
| Active |
74 |
-14 |
$
290,000 |
$ 6,245,000 |
| Pending
Show |
19 |
2 |
$
275,000 |
$ 2,995,000 |
| Pending
Release |
14 |
8 |
$
190,000 |
$ 1,029,000 |
| Pending |
12 |
-11 |
$
287,500 |
$ 2,325,000 |
| Total
Pending |
45 |
-1 |
|
|
| Total
Listings |
119 |
-15 |
|
|
| Percent
Pending |
38% |
|
17
Short Sales |
5 REOs |
| |
|
Change since |
|
|
| Mtn View |
3/21/2010 |
11/9/2009 |
Lowest Price |
Highest Price |
| Active |
51 |
7 |
$
435,000 |
$ 2,900,000 |
| Pending
Show |
15 |
-2 |
$
549,000 |
$ 1,549,950 |
| Pending
Release |
7 |
4 |
$
565,000 |
$ 1,150,000 |
| Pending |
17 |
-7 |
$
400,000 |
$ 1,718,153 |
| Total
Pending |
39 |
-5 |
|
|
| Total
Listings |
90 |
2 |
|
|
| Percent
Pending |
43% |
|
9 Short
Sales |
1 REO |
| |
|
Change since |
|
|
| MV Townhomes |
3/21/2010 |
11/9/2009 |
Lowest Price |
Highest Price |
| Active |
61 |
16 |
$
187,160 |
$ 1,028,000 |
| Pending
Show |
18 |
-8 |
$
249,000 |
$ 798,000
|
| Pending
Release |
15 |
6 |
$
199,999 |
$ 725,000
|
| Pending |
20 |
3 |
$
199,999 |
$ 980,000
|
| Total
Pending |
53 |
1 |
|
|
| Total
Listings |
114 |
17 |
|
|
| Percent
Pending |
46% |
|
27
Short Sales |
6 REOs |
| |
|
Change since |
|
|
| Palo Alto |
3/21/2010 |
11/9/2009 |
Lowest Price |
Highest Price |
| Active |
73 |
-9 |
$
699,000 |
$ 7,998,000 |
| Pending
Show |
15 |
-1 |
$
729,000 |
$ 3,125,000 |
| Pending
Release |
5 |
0 |
$ 1,049,000
|
$ 2,600,000 |
| Pending |
28 |
-6 |
$
700,000 |
$ 3,195,000 |
| Total
Pending |
|
-55 |
|
|
| Total
Listings |
121 |
-16 |
|
|
| Percent
Pending |
40% |
|
3 Short
Sales |
1 REO |
| |
|
Change since |
|
|
| Portola Valley |
3/21/2010 |
11/9/2009 |
Lowest Price |
Highest Price |
| Active |
30 |
14 |
$ 1,235,000
|
$ 7,750,000 |
| Pending
Show |
4 |
1 |
$
525,000 |
$ 2,265,000 |
| Pending
Release |
1 |
-1 |
$ 1,300,000
|
|
| Pending |
5 |
0 |
$
899,000 |
$ 2,050,000 |
| Total
Pending |
10 |
0 |
|
|
| Total
Listings |
40 |
14 |
|
|
| Percent
Pending |
25% |
|
2 Short
Sales |
1 REO |
| |
|
Change since |
|
|
| Sunnyvale |
3/21/2010 |
11/9/2009 |
Lowest Price |
Highest Price |
| Active |
96 |
19 |
$
349,000 |
$ 1,399,000 |
| Pending
Show |
26 |
-13 |
$
425,000 |
$ 1,198,000 |
| Pending
Release |
28 |
8 |
$
250,000 |
$ 1,215,000 |
| Pending |
27 |
-22 |
$
275,000 |
$ 1,224,950 |
| Total
Pending |
81 |
-27 |
|
|
| Total
Listings |
177 |
-8 |
|
|
| Percent
Pending |
46% |
|
|
|
|
|
|
|
|
