The Palo Alto housing market is very competitive. Homes in Palo Alto receive 2 offers on average and sell in around 10 days. The median sale price of a home in Palo Alto was $2.8M last month, down 20.1% since last year. The median sale price per square foot in Palo Alto is $1.55K, down 17.9% since last year.
What is the housing market like in Palo Alto today?
In February 2024, Palo Alto home prices were down 20.1% compared to last year, selling for a median price of $2.8M. On average, homes in Palo Alto sell after 10 days on the market compared to 12 days last year. There were 24 homes sold in February this year, up from 13 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$2,797,500
-20.1% YoY | Feb 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Feb 2024
Growth
% YoY
Palo Alto, CA
$2,797,500
-20.1%
United States
To compare other locations to the Palo Alto and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Palo Alto add value to a home.
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How hot is the Palo Alto housing market?
Palo Alto is very competitive. Homes sell in 18 days.
0
100
80
Very Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Many homes get multiple offers, some with waived contingencies.
The average homes sell for about 2% above list price and go pending in around 18 days.
Hot homes
can sell for about 8% above list price and go pending in around 8 days.
This data does not reflect actual moves. The latest migration analysis is based on a sample of about two
million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user
must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.
Home offer insights for Palo Alto
Explore recent offers and recently sold homes in Palo Alto
This area's enrollment policy is not based solely on geography. Please check the school district website for more information.
GreatSchools Rating
9/10
Ohlone Elementary School
Public • K-5
560
Students
5 reviews
9/10
Springer Elementary School
Public • K-6
468
Students
16 reviews
8/10
La Entrada Middle School
Public • 4-8
745
Students
14 reviews
8/10
Palo Verde Elementary School
Public • K-5
393
Students
5 reviews
8/10
Monta Loma Elementary School
Public • K-5
425
Students
28 reviews
Only showing 5 of
32 elementary schools.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Palo Alto housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Palo Alto.
Risk Factor
Flood Factor - Moderate
11% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Palo Alto has a moderate risk of flooding. 282 properties in Palo Alto are likely to be
severely affected
by flooding over the next 30 years. This represents 11% of all properties in Palo Alto. Flood risk is increasing slower than the national average.
88% of properties are at risk of wildfire over the next 30 years
Fire Factor
Palo Alto has a moderate risk of wildfire. There are 2,884 properties in Palo Alto that have some risk of being affected by wildfire over the next 30 years. This represents 88% of all properties in Palo Alto.