Sun Dec 03 2023
This week the median list price for Palo Alto, CA is $4,599,000 with the market action index hovering around 51. This is an increase over last month's market action index of 49. Inventory has decreased to 34.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$4,599,000|
|Median Price of New Listings||$2,797,500|
|Per Square Foot||$1,959|
|Average Days on Market||138|
|Median Days on Market||74|
|Strong Seller's Market|
The market continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index as a leading indicator for 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|
|$13,850,000||4,301||0.25 - 0.5 acre||5||4||20||0||0||73|
|$5,687,500||3,173||8,000 - 10,000 sqft||4||4.3||4||0||1||140|
|$4,000,000||2,498||4,500 - 6,500 sqft||4||3.5||91||2||0||112|
|$2,495,000||1,036||0 - 4,500 sqft||3||2||72||2||1||35|