Emerald Hills Home Prices Surge and Days on Market Plunge – A Recap of Q1 2014

The first quarter of 2014 is showing all signs of a strong spring rally in Emerald Hills home sales.  As I discussed last quarter, the lack of inventory coupled with renewed buyer interest in Emerald Hills, has indeed caused a huge increase in the Q1 2014 median price of homes sold  to $1,515,000, an increase of over 41% from Q1 2013.   Inventory continues to be down 5% from last spring, which has put upward pressure on prices and helped to cause the average days on the market to plunge 49%.   Despite this trend, there are a few listings, especially those at higher prices, which have been on the market for a little longer which need another look as they are potential opportunities for buyers.  Unlike surrounding communities, there are still wonderful spacious homes available for well under $2M in Emerald Hills.  Buyers getting priced out of Palo Alto, Menlo Park and other surrounding communities or who want more space (or maybe a view) should take a look in the hills.

 

Photo Credit: Flickr / Jill Clardy

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