Sarah Parsons - April 2024 Market Report | Palo Alto Area by California Concierge

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What’syourhome reallyworthin today’smarket?

That's the question you should be asking yourself.

Our market is incredibly diverse and rapidly changing. Values vary not just by neighborhood but by street. Your home isn't necessarily worth what your neighbors' home is. It's the current market that sets the value of your home.

So, do you know what your home is worth today's market?

Icanhelp...

Contact me for a confidential, no obligation assessment of your home's value.

WhyOverpricingYourHouse CanCostYou

If you’re trying to sell your house, you may be looking at this spring season as the sweet spot – and you’re not wrong. We’re still in a seller’s market because there are so few homes for sale right now. And historically, this is the time of year when more buyers move, and competition ticks up. That makes this an exciting time to put up that for sale sign.

But while conditions are great for sellers like you, you’ll still want to be strategic when it comes time to set your asking price. That’s because pricing your house too high may actually cost you in the long run.

The Downside of Overpricing Your House

The asking price for your house sends a message to potential buyers. From the moment they see your listing, the price and the photos are what’s going to make the biggest first impression. And, if it’s priced too high, you may turn people away.

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Looking to lighten the mood in your laundry room?

To Look Out For EIGHTEYE-

These refreshing colors make the wash-and-dry chore a little more pleasant.

CATCHING Laundry Room Colors

Tranquil Blue

View it here

Sage Green

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Eight Colrs fo Laundry

White

View it here

Yellow

View it here

Gray

View it here

Dusty Pink

View it here

Navy Blue

View it here

Purple

View it here

Create a tranquil laundry space with Benjamin Moore's Beach Glass Its light blue shade, coupled with a subtle gray undertone, offers a clean and versatile aesthetic that avoids any baby nursery associations.

Transform your space with earthy tones like October Mist and Gloucester Sage from Benjamin Moore. Test out the trendy sage in your laundry room for a lowcommitment update easy to change and customize, ensuring lasting satisfaction with your design choice.

Create an elegant laundry room with Chantilly Lace by Benjamin Moore The classic white choice adds sophistication, opens up the space, and simplifies stain detection.

Elevate your laundry space with the energizing touch of yellow. Behr's Roasted Corn or Upbeat bring warmth and optimism, while Pearly White offers a mellow option a yellow-based white that brings a perfect harmony of vibrancy and calmness

Gray remains a top choice for laundry room walls, providing a timeless and serene backdrop A soft gray for a whisper of sophistication, easily personalized with printed patterned tile flooring or Behr's bold 2024 Color of the Year, Cracked Pepper.

Sherwin-Williams' Rosebud for a touch of romance in laundry rooms. The dusty pink hue, paired with gold accents, adds a luxurious and warm atmosphere

Navy as the key to a striking laundry room. Beyond lighter blues, navy paired with lighter accents or white fixtures, especially Benjamin Moore's Hale Navy, creates a bold choice that makes the laundry room stand out.

Dare to take a style risk in your laundry room with a pop of color Opt for the subtle smoky lavender of Farrow & Ball's Peignoir for a neutral touch or go all-out glam with Backdrop's dark and vampy McQueen, drawing inspiration from the famous fashion designer.

Source : https://www familyhandyman com/list/laundry-room-colors/

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PaloAlto

What's in the Palo Alto data?

There were 32 single-family homes for sale, providing 0.8 months of inventory. There were 42 new listings, and 29 homes sold at a median price of $3.6m. The median overbid percentage was at 106%, with an average of 11 days on the market.

There were 15 condo and townhome units for sale, providing 1.5 months of inventory. There were 12 new listings and 7 units sold at a median sale price of $948k. The median overbid percentage was at 106%, with an average of 25 days on the market.

SFH Single-Family Homes

42 New Listings

29 Sold Listings

0.8 Months of Inventory

$3.6M Median Sale Price

106% Median Sale vs List

11 Avg Days on Market

The data, sourced from InfoSparks and Trend Graphix, includes all single-family homes, condos and townhomes in the California Area above from March 2023 to March 2024. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. DRE# 01511642. Copyright KW Advisors Palo Alto 2024. Each office is independently owned and operated.

CONDO Condo & Townhomes 12 New Listings 1.5 Months of Inventory $948K Median Sale Price 106% Median Sale vs List 25 Avg Days on Market 7 Sold Listings

MARCH 2023 - MARCH 2024

LISTINGS FOR SALE SOLD LISTINGS

Single-Family Homes

Last 12 months, year-over-year.

Condos & Townhomes

Last 12 months, year-over-year

PaloAlto

0 10 20 30 40 50 60 Mar2023 Apr2023 May2023 Jun2023 Jul2023 Aug2023 Sep2023 Oct2023 Nov2023 Dec2023 Jan2024 Feb2024 Mar2024 0 5 10 15 20 Mar2023 Apr2023 May2023 Jun2023 Jul2023 Aug2023 Sep2023 Oct2023 Nov2023 Dec2023 Jan2024 Feb2024 Mar2024

Median SalesPrice

Single-Family Homes

The median sale price has increased from $3 4m last March 2023, to $3 6m as of March 2024

Condos & Townhomes

The median sale price has decreased from $1 1m last March 2023, to $948k as of March 2024

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went down from 26 days last March 2023, to 11 days as of March 2024

Condos & Townhomes

The average time spent on the market went down from 27 days in March 2023, to 25 days as of March 2024.

Overbids

Single-Family Homes

The overbid percentage has increased from 100% last March 2023, to 106% a year later

Condos & Townhomes

The overbid percentage has increased from 98% last March 2023, to 106% a year later.

Back to Table of Contents $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 Mar2023Apr2023May2023 Jun2023 Jul2023Aug2023Sep2023Oct2023Nov2023Dec2023 Jan2024Feb2024Mar2024 0 20 40 60 80 100 Mar2023 Apr2023May2023 Jun2023 Jul2023Aug2023Sep2023 Oct2023Nov2023Dec2023 Jan2024 Feb2024Mar2024 000% 2000% 4000% 6000% 8000% 10000% 12000% Mar2023Apr2023May2023 Jun2023 Jul2023Aug2023Sep2023 Oct2023Nov2023Dec2023 Jan2024 Feb2024Mar2024

Redwood City

What's in the Redwood City data?

There were 21 single-family homes for sale, providing 0.4 months of inventory. There were 50 new listings, and 27 homes sold at a median price of $2.1m. The median overbid percentage was at 107%, with an average of 12 days on the market

There were 18 condo and townhome units for sale, providing 9 months of inventory. There were 14 new listings and 4 units sold at a median sale price of $985k. The median overbid percentage was at 101%, with an average of 39 days on the market.