Fri Oct 15 2021
This week the median list price for Palo Alto, CA is $5,280,000 with the market action index hovering around 54. This is less than last month's market action index of 55. Inventory has increased to 77.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$5,280,000|
|Median Price of New Listings||$4,495,000|
|Per Square Foot||$1,760|
|Average Days on Market||100|
|Median Days on Market||42|
|Strong Seller's Market|
The market appears to be hovering around these current levels, though prices movved up a bit this week. The Market Action Index is a good leading indicator for the durability of this shift.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$9,988,000||5,347||0.25 - 0.5 acre||5||6||17||2||0||70|
|$5,995,000||3,567||6,500 - 8,000 sqft||5||4||27||1||0||42|
|$4,495,000||2,636||4,500 - 6,500 sqft||4||3||24||4||5||42|
|$2,999,388||1,758||4,500 - 6,500 sqft||4||3||69||6||6||42|