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South Bay Bidding Wars

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The overbidding trend that has taken over the San Francisco housing market is also prevalent down in Palo Alto, where this 3-bedroom Eichler home sold this week for $2.8 million after listing for $2.198 million. It was on the market for all of one week. Also this week in Palo Alto a four-bedroom home sold for $3 million after listing for $2.98 million and a 3-bedroom townhome went for $1.629 million despite its listing price of $988k. [Redfin]