Michele's Real Estate Market Report

Palo Alto, CA

Single-Family Homes

Michele Harkov | 650-773-1332 | www.micheleharkov.com



Palo Alto, CA

Sun May 19 2024
This week the median list price for Palo Alto, CA is $4,780,000 with the market action index hovering around 63. This is about the same as last month's market action index of 63. Inventory has increased to 49. Click here to stay informed with the Palo Alto market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Palo Alto, CA

Sun May 19 2024
This week the median list price for Palo Alto, CA is $4,780,000 with the market action index hovering around 63. This is about the same as last month's market action index of 63. Inventory has increased to 49. Click here to stay informed with the Palo Alto market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Real-Time Market Profile

Never miss important changes in the Palo Alto market.
Median List Price $4,780,000
Median Price of New Listings $2,988,000
Per Square Foot $1,817
Average Days on Market 86
Median Days on Market 21
Price Decreased 22%
Price Increased 4%
Relisted 6%
Inventory 49
Median Rent
Market Action 63
Strong Seller's Market

The market seems to have paused around this plateau. This week prices eased down a bit.Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$10,567,500 5,313 0.25 - 0.5 acre 5 6.5 20 0 1 70
$6,493,000 3,288 6,500 - 8,000 sqft 5 4.5 9 1 2 42
$3,996,500 2,244 6,500 - 8,000 sqft 4 3 70 5 4 7
$2,698,000 1,648 4,500 - 6,500 sqft 3 2 69 7 6 0