Wed Sep 22 2021
This week the median list price for Palo Alto, CA is $1,296,500 with the market action index hovering around 49. This is about the same as last month's market action index of 49. Inventory has increased to 24.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$1,296,500|
|Median Price of New Listings||$1,549,000|
|Per Square Foot||$1,108|
|Average Days on Market||69|
|Median Days on Market||35|
|Strong Seller's Market|
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle. The Market Action Index is a good leading indicator for the durability of this trend.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,994,000||1,567||0 - 4,500 sqft||2||2||40||2||0||35|
|$1,649,000||1,307||0 - 4,500 sqft||2||2||49||2||1||45|
|$1,198,884||1,126||0 - 4,500 sqft||2||2||36||1||0||66|
|$894,000||732||0 - 4,500 sqft||1||1||38||2||0||59|