SF Peninsula Real Estate Guru

Over the past month or so, many people have come up to me and said: “I hear this is a terrible market” or they ask me: “How bad is the market?”.

I tell them not nearly as bad as the media would have you believe.

Let’s look at the numbers:

Here are the number of Palo Alto homes sold in the first 8 months over the past five years.

2003 346
2004 430
2005 372
2006 370
2007 341

In looking at the numbers:
2007 sales are about 10% below 2005 and 2006 sales.
2007 sales are about 20% below 2004 sales which is an all-time record.
2007 sales are about the same as 2003 sales.

So - Yes, the 2007 market is slower than the proceeding years but only marginally so.

The sky isn’t falling.

I will be interested to see what the data says for San Carlos and Sunnyvale.

I have picked those 3 cities because they are very representative of the Peninsula market as a whole. Palo Alto of course is an outstanding community with superior schools. San Carlos is a typical San Mateo County community with a family orientation and good schools. Sunnyvale is similar to San Carlos but perhaps more representative of Silicon Valley.

Cheers….

PS My fantasy football team won this week - Jon Kitna, Joseph Addai, Adrian Peterson, Reggie Wayne, and the Minnesota D lead the way as the Stingers move to 1-0.