February Newsletter

February 2023
Newsletter

Market Update

2022 was quite a year! We saw an extension of our long-running seller’s market during the first half of the year and then a more balanced market during the second half, finally providing some relief for buyers.

2023 is still young but our Spring Market begins as early as February and is typically the biggest selling season of the year. Thus far the market looks to be following this seasonal pattern. Buyer demand seems to be returning with more open house traffic, buyers requesting disclosures, and homes selling with multiple offers.

We are advising our clients looking to sell in 2023 that we don’t predict doom and gloom but we do need to finely tune pricing and preparation.  Well prepared, move-in ready properties that are beautifully presented are in high demand.

We’re also encouraging our buyers who find their dream properties not to sit on the sidelines to try to figure out this market.  There is no way to time the market but if the plan is to hold a property for 5+ years, typically they will fare well.

For more specific market data, click here:
Flipbook for Stanford Circle,
San Mateo County , Santa Clara County

Our Listings

21190 Canyon Oak Way, Cupertino

$4,600,000  |  5 Beds  |   3.5 Baths
Lovely one-level home with vaulted ceilings, a beautifully landscaped garden and outdoor patio/kitchen.

www.21190CanyonOak.com

555 Byron Street #410, Palo Alto

$1,600,000  |  3 Beds  |   2 Baths
Prime top-floor unit at The Hamilton, the most elegant lifestyle complex in Palo Alto for adults 55+.

www.555Byron410.com

2140 Santa Cruz Avenue B302, Menlo Park

$875,000  |  2 Beds  |   2 Baths
Top-floor unit in a 55+ older community features an open floor-plan, skylights, two generous balconies, a walk-in closet and in-unit laundry

www.SantaCruzB302.com

Recently Sold

151 Melville Avenue, Palo Alto

Represented Seller

9 Politzer Drive, Menlo Park

Represented Buyer

1990 Sharon Road, Menlo Park

Represented Seller

506 Quartz Street, Redwood City

Represented Buyer

140 Stone Pine Lane, Menlo Park

Represented Seller

Neighborhood Spotlight

Springline Development on El Camino Real in 
Menlo Park

The chef behind Camper in Menlo Park has just opened the first of several new restaurants coming to the 6.4 acre Springline development. Canteen, a casual tapas bar features creative small plates such as Salt Spring Mussels cooked in Vermouth, Fennel, Tarragon, Shallots, Thyme with Toast. Yum!

With SF establishments like Che Fico, Andytown Coffee Roasters and Robin among the new eateries opening soon, Springline is looking to become a dining destination on the Peninsula.

Monica Corman & Mandy Montoya

Monica: 650-465-5971
monica.corman@compass.com

Mandy: 650-823-8212
mandy.montoya@compass.com

Statistics are generalities, essentially summaries of widely disparate data generated by dozens, hundreds or thousands of unique, individual sales occurring within different time periods. They are best seen not as precise measurements, but as broad, comparative indicators, with reasonable margins of error. Anomalous fluctuations in statistics are not uncommon, especially in smaller, expensive market segments. Last period data should be considered estimates that may change with late-reported data. Different analytics programs sometimes define statistics - such as "active listings," "days on market," and "months supply of inventory" - differently: what is most meaningful are not specific calculations but the trends they illustrate. Most listing and sales data derives from the local or regional multi-listing service (MLS) of the area specified in the analysis, but not all listings or sales are reported to MLS and these won't be reflected in the data. "Homes" signifies real-property, single-household housing units: houses, condos, co-ops, townhouses, duets and TICs (but not mobile homes), as applicable to each market. City/town names refer specifically to the named cities and towns, or their MLS areas, unless otherwise delineated. Multi­county metro areas will be specified as such. Data from sources deemed reliable, but may contain errors and subject to revision. All numbers to be considered approximate.

Many aspects of value cannot be adequately reflected in median and average statistics: curb appeal, age, condition, amenities, views, lot size, quality of outdoor space, "bonus" rooms, additional parking, quality of location within the neighborhood, and so on. How any of these statistics apply to any particular home is unknown without a specific comparative market analysis.

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.