Tue Jun 06 2023
This week the median list price for Palo Alto, CA is $4,125,000 with the market action index hovering around 50. This is an increase over last month's market action index of 49. Inventory has decreased to 51.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$4,125,000|
|Median Price of New Listings||$3,324,500|
|Per Square Foot||$2,023|
|Average Days on Market||105|
|Median Days on Market||35|
|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.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$11,824,000||5,443||0.25 - 0.5 acre||6||5.5||19||1||0||77|
|$5,688,888||2,995||8,000 - 10,000 sqft||4||4||23||0||3||35|
|$3,498,000||1,959||6,500 - 8,000 sqft||4||2||67||3||2||35|
|$2,899,500||1,357||4,500 - 6,500 sqft||3||2||72||2||3||35|