Once again, the big news in Palo Alto real estate this week is what didn’t happen. Prices this week did not melt down to 1870 levels. Over-leveraged Palo Altans have not been foreclosed on and are not pushing shopping carts along El Camino Real in search of some cheap Ramin noodles. Traffic along the 101 is still clogged by our local high-tech work force. Entrepreneurs are still making the pilgrimage to Sand Hill Road in neighboring Menlo Park to get funding for their start-ups. Google’s stock is still above
$100 $200 $300 $400 $450.
The Palo Alto transactions announced in our office this morning included:
~$1.1M — 4 offers
~$2M — 3 offers
~$? — 1 offer
and the winner of this week’s “Why won’t the sky just fall already?” Palo Alto real estate competition was a property listed around $800K that sold with 23 offers. 23 offers!
Image courtesy of grubbykid.com
Tags: Bubblistas, For buyers, For sellers, Palo Alto, Real estate
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