According to MLS Listings Inc. data, 28 single family homes closed escrow in November within the city of Los Altos zip codes of 94024 and 94022. This is slightly below the 12 year average (for the month of November) of 29 closed sales of single family homes.
The median list price of single family homes for November 2007 as compared to November 2009 dropped 15% from $2,150,000 to $1,825,000. The median sales price dropped 8% from $1,611,500 to $1,476,000 over the same two year period.
Finally, the list price to sale price ratio for the month of November is 96%.
Our market continues to favor buyers, especially in the higher price points. Prices and sales continue to lag and sellers continue to be hesitant in making price concessions.
Click on the link below for a 20 page summary of Los Altos real estate market statistics for the month of November 2009 (information provided by Clarus MarketMetrics®).
Los Altos Real Estate Market Update – November 2009
Regardless of market conditions, proper pricing, home preparation, and a strategic marketing plan mixed with realistic expectations will make for a more rewarding seller experience.
Should you have any questions concerning your individual real estate situation please contact me directly at 650 917-4250.