We all know that what keeps residential real estate prices high in the Mid Peninsula is high demand and a shortage of supply. Supply of residential housing is limited by supply of land to build on. Unlike areas such as Sacramento, the Central Valley or even the southern, eastern and northern edges of the Bay Area, it is virtually impossible for developers to acquire large tracts of land for development. The good news is that helps keep prices stable; the bad news is it makes it difficult for entrants into the local housing market.
While there aren’t any really large new home developments, there are a number of smaller infill type developments and, in fact, five of them are available even as we write. For more details click on the project below:
1. Vantage of Palo Alto – New Town Homes – 76 units – Self proclaimed “green”
2. Echelon – Palo Alto – New Town Homes – 75 units
3. 996 Willow – Menlo Park -New Single Family Homes – 12 units – Self proclaimed “green”
4. Morgan Lane – Menlo Park – New Single Family Homes – 42 units
5. Lane Woods – Menlo Park – New Single Family Homes – 32 units
