Chris Iverson's Market Report
Palo Alto, CA
Single-Family Homes
Market data for your neighborhood, updated weekly.
Palo Alto, CA
Sat Dec 21 2024
This week the median list price for Palo Alto, CA is $5,791,500 with the market action index hovering around 55. This is an increase over last month's market action index of 54. Inventory has decreased to 26.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market has been strong for several consecutive weeks. Reflecting these inventory conditions, with the MAI in the Seller’s zone, it is not surprising that prices have recently resumed their climb.
Real-Time Market Profile
| Median List Price | $5,791,500 | |
| Median Price of New Listings | $3,249,000 | |
| Per Square Foot | $2,034 | |
| Average Days on Market | 191 | |
| Median Days on Market | 77 | |
| Price Decreased | 23% | |
| Price Increased | 0% | |
| Relisted | 8% | |
| Inventory | 26 | |
| Median Rent | ||
| Market Action | 55 | |
| Strong Seller's Market | ||
This week saw relatively little price change from last week. However the market appears to be trying to establish an uptrend. The Market Action Index is a good leading indicator for the durability of this trend.
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 |
|---|---|---|---|---|---|---|---|---|
| $14,334,000 | 5,648 | 0.25 - 0.5 acre | 5 | 6.5 | 18 | 1 | 0 | 161 |
| $7,874,000 | 3,266 | 0.25 - 0.5 acre | 5 | 4.5 | 4 | 0 | 0 | 196 |
| $5,015,000 | 2,861 | 6,500 - 8,000 sqft | 4 | 4 | 2 | 1 | 2 | 56 |
| $2,998,000 | 1,401 | 6,500 - 8,000 sqft | 2 | 2 | NaN | 4 | 0 | 0 |