Palo Alto

Palo Alto Homes and Real Estate Sales

The Palo Alto real estate market is one of the most dynamic in the United States. Whether you are buying or selling a home, you need to be armed with the facts so that you can make quick, informed decisions about the purchase or sale of homes.

There are thirteen distinct neighborhoods in Palo Alto, and within them some smaller communities that have unique characteristics such as a common original developer. North Palo Alto includes the neighborhoods of Downtown, Professorville, Community Center, Crescent Park, Green Gables and Old Palo Alto. South Palo Alto includes College Terrace, Ventura, Midtown, South Palo Alto, Green Acres and Barron Park. The Palo Alto Hills neighborhood has larger parcels of land and is more remote. There are a variety of home styles and no matter where you live in Palo Alto, there is a great sense of community.

Real Estate Market Facts

Single Family Homes

Some key Palo Alto market indicators based on Multiple Listing Service data are as follows. The chart compares YTD statistics Q3 2018 to Q3 2019.

	January- September 2018	January-September 2019	Change
Number of Homes Sold	263	240	-8.75%
Median Sale Price	$3,235,320	$3,080,000	-4.80%
Average Days on Market	16	27	+11 Days
Sale Price to Original List Price Ratio	109.5%	100.9%	-8.6%

Condominiums & Townhomes

For homeowners who prefer shared maintenance, there are a number of condominium and townhome options located throughout Palo Alto. The statistics for YTD Q3 2018 compared to 2019 are as follows:

	January- September 2018	January-September 2019	Change
Number of Units Sold	66	53	-24.53%
Median Sale Price	$1,720,000	$1,500,000	-14.67%
Average Days on Market	13	31	+16 Days
Sale Price to Original List Price Ratio	111.3%	102.1%	-9.2%

By any measure market trends are down comparing 2018 to 2019, however, when evaluating residential real estate it is essential to take a long view. Ten years ago in 2009 the Median Sale Price for a Palo Alto home was $1,320,000, and for a condominium/townhome it was $725,000.

If you would like an accurate assessment of value of your Palo Alto property, or if you would like to discuss whether this is the right time to make a purchase, we invite you to contact us. It would be a pleasure to be of service to you.

Quality of Life

We are often asked about the factors that drive this remarkable real estate market. Of course, there is the underlying economic principle of supply and demand, but beyond that people continue to be attracted to Palo Alto for its:

Award-winning unified school system, grades K-12, including two highly ranked high schools, two alternative elementary schools and both Spanish and Mandarin immersion programs.
Proximity to world-renowned Stanford University.
Vibrant downtown area featuring a wide variety of boutiques and an international array of restaurants.
Progressive, inclusive population. Often leading the way with sound environmental lifestyle programs, Palo Alto was the first city in the United States to create a bicycle boulevard and it actively promotes a Zero Waste program throughout the City. Palo Alto recently opened Magical Bridge Playground designed for children with varying physical and cognitive needs.
Diversity of population including world-changing entrepreneurs who abound with creativity and who inspire others by their indomitable spirit.
Technology culture with deep start-up roots including Facebook, Tesla, HP, VMware, and Intuit, to name a few.

Palo Alto is truly the city where anything is possible!

community palo alto 3 — Palo Alto Community Gardens

Navigating the Palo Alto market requires knowledge and understanding. We can provide you with the facts you need and additionally, based on over 30 years of experience selling homes in Palo Alto, we have deep roots and connections that we can leverage for you in creative ways. Some of the most gratifying real estate experiences have been presenting opportunities for our clients, both sellers and buyers, based on personal connections and knowledge of the real estate market.

City of Palo Alto Website