Recently Sold in Palo Alto: Feb. 1 – 7

Two single family homes were sold in Palo Alto during the first month of February. One was purchased for the fairly typical price of $1.6 million. However, the other went for the bargain-basement (for Palo Alto) price of $350,000.

Real Estate professional and Patch blogger Michael Talis has been sounding the alarm about a shortage of inventory. With few homes on the market, the number of sales plummets.

Here are the transactions:

Feb.1:

3427 Cork Oak Way
4 bedrooms, 2 bathrooms, 1,761 sq. ft.
$350,000
(Editor's note: Talis reports that this home was transferred within a family, which accounts for the low price.)

Feb. 7:

2368 Saint Francis Dr.
4 bedrooms, 2 bathrooms, 1,848 sq. ft.
$1,675,000

Also on Palo Alto Patch:

$5.6 Million Spanish Colonial Revival Mansion

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Police Arrest Armed Robbery Suspects

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