This according to the MLS, of course.

 

When the market shifts the first markets to become affected are the top and the bottom, as well as condos.  So I thought it would be fun to see what the top of the market did in 2008. 

 

I was suprised to learn that the most expensive home to sell was actually right here in Piedmont.  The Piedmont house, located on Lincoln Avenue and on the market for only 17 days, sold last May for $7,800,000, all cash, closed in 4 days.  HOLY @!*#!!!  All cash?  4 day close?  Wow.

 

The most expensive home that someone tried to sell was in Palo Alto.  Located on nearly 13 acres on Arastradero road, this spectacular home was listed for $29,850,000, was on the market for just over a year, and had zero price reductions.  This home was finally withdrawn. 

 

2008 statistics for homes above $7,000,000:

 

Number listed: 18

Number sold: 1

Number expired: 3

Number still active: 8

Average list price: $10,978,277

Average days on market: 211