According to MLS Listings Inc. data, 25 single family homes closed escrow in December within the Los Altos zip codes of 94024 and 94022. This is up from 10 homes sales last year and 19 home sales in 2007.
The median list price of single family homes for December 2007 as compared to December 2009 dropped 13% from $2,150,000 to $1,869,000. The median sales price dropped 10% from $1,750,000 to $1,582,895.
Finally, the list price to sale price ratio for the month of December 2009 is 96.07%.
Our market continues to favor buyers, especially in the higher price points (half the homes that closed escrow in Los Altos in December sold at or below $1,500,000.). Fortunately, prices are firming up a little and sales are up.
Could it be that we are starting to see a little real estate rebound locally? I think our real estate market is still slightly Bearish but the statistics indicate that the market does appear to be getting a little more active.
Click on the link below for a 20 page summary of Los Altos real estate market statistics for the month of December 2009 (information provided by Clarus MarketMetrics®).