Another week, another delay in posting an update.😉 That’s actually a good sign for the real estate market. Things are really picking up. I have another new listing in Los Altos Hills this week (head on over to kathybridgman.com to check it out – and check out my new virtual brochure for this property on Brendel while you are there).
So here’s the latest. In April only 15 homes went into contract in Los Altos; in the last 16 days, 14 homes went into contract. This has everything to do with us being able to show all homes now, as of May 4 (as long as the occupant is not present). Technology is working.
In Los Altos Hills there were only 2 sales in April and since May 4, there have been 6 sales. Quite a change. There have been 25 new listings in Los Altos since May 4 and 8 in Los Altos Hills. Yes, the market is starting to change.
So what about actual closed sales? 14 of them in LA/LAH since May 1 (and all but 2 went into contract AFTER shelter in place). 5 of these sold for more than list price. Sounds like the “new normal” is getting a little closer to the “old normal.” Whatever it is, you can be sure I’m on top of it. Information is so important at this time. Happy to answer any questions.
PS – one more note: Days on Market, which were suspended on March 19, have now been reinstated as of May 16.
A day or so late with this week’s update but hey I’m just glad to even know that it’s Wednesday! 😊No big changes in real estate to report, like I had in my last update to you when we announced that occupied homes could now be shown. Perhaps that had everything to do with my first point below though:
The new normal continues to work for real estate. And my heart still goes out to all that are taking such good care of us during this time. I so appreciate you. Stay healthy everyone – and support the downtown Los Altos businesses whenever you can.
The big news this week is the change to the SIP mandate that allows 3 things affecting real estate:
Needless to say, even with these changes, there’s nothing more important than safety so that will always be my priority. In my week 8 update to you, here’s a look at what happened last week in #LosAltos and #LosAltosHills.
Another week…. and now it looks like it’s going to be another month😱! Here’s the latest update on what happened this past week in Los Altos and Los Altos Hills.
2 homes went into contract in Los Altos ($2.85M and $3.4M)
4 homes closed escrow in Los Altos ($2.2M to $3.4M) and 2 in Los Altos Hills ($3.4M to $3.5M)
3 homes were listed for sale in Los Altos ($2.998M to $3,598M) and 1 in Los Altos Hills ($6.498)
There are 40 fabulous homes for sale in Los Altos right now ($1.4M to $16.9M) and 18 beautiful homes in Los Altos Hills ($2.9M to $39.9M)
Again, it can be done. It’s just a new way of doing business. If you need to sell or you need to buy, I can still make it happen for you. Is it more challenging? Of course it is. But can it be done and done safely? Absolutely. If you have questions, I have answers. Get in touch. Everyday, we send thanks to our healthcare workers, grocery store workers, and everyone trying to solve this. Stay safe everyone.
Homes are selling. Though the real estate market has slowed significantly, transactions are still happening. I listed a home in Los Altos Hills on April 3, went into contract on April 10 (with 2 offers), and closed escrow on April 13 for just over $4 million. It can be done, it’s just a new way of doing business. Safety first above all else. Virtual showings, in person showings for vacant homes, mobile notaries, electronic recordings – it’s all working. Together we can, and will continue to, do this.
Here’s an update on exactly what has happened since shelter-in-place on March 17. Every week I post an update at @kathybridgmanrealestate on Instagram and Facebook as well as on my Shelter-in-Place update at kathybridgman.com. Follow me there for the most current info.
Los Altos (3/17 to 4/17)
Number of new listings: 28 ($1,595,000 to $5,895,000)
Number of ratified contracts: 10, plus 2 with contingencies ($1,499,000 to $4,690,000)
Number of closed escrows: 21 ($2,200,000 to $6,348,000)
Number of current listings: 42 ($1,499,000 to $16,900,000)
Los Altos Hills (3/17 to 4/17)
Number of new listings: 2 ($3,995,000 to $3,998,000)
Number of ratified contracts: 4, plus 1 with contingencies ($3,600,000 to $8,699,000)
Number of closed escrows: 4 ($2,715,000 to $4,700,000)
Number of current listings: 17 ($2,995,000 to $39,998,000)