Mon Jan 24 2022
This week the median list price for Palo Alto, CA is $5,994,000 with the market action index hovering around 57. This is less than last month's market action index of 60. Inventory has decreased to 22.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$5,994,000|
|Median Price of New Listings||$3,395,000|
|Per Square Foot||$1,734|
|Average Days on Market||243|
|Median Days on Market||186|
|Strong Seller's Market|
Prices continue their climb again this week. We’re a long way from the market’s price high-point so watch the Market Action Index as an indicator of how long this trend will last.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$14,500,000||6,129||0.25 - 0.5 acre||6||8||76||0||0||238|
|$7,665,000||3,431||6,500 - 8,000 sqft||6||4||19||0||0||112|
|$5,045,000||3,031||6,500 - 8,000 sqft||5||4||13||0||0||119|
|$3,574,000||2,234||4,500 - 6,500 sqft||4||3||66||2||3||227|