Is Old Palo Alto, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Old Palo Alto was a Neutral Market.
Key Takeaway
Old Palo Alto is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Old Palo Alto, CA
How much do homes in Old Palo Alto, CA cost?
Median Sold Price
$5,200,000
$1,869/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Old Palo Alto have sold for 252.5% more than they did a month ago.
Summary: The median home sold price in Old Palo Alto was $5,200,000 in March 2024, up 252.5% from last month, and the median price per square foot was $1,869.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $1.4M | - | N/A |
| 3 Bedrooms | - | $5.2M | N/A |
| 4 Bedrooms | - | $4.3M | N/A |
| 5+ Bedrooms | - | $5.8M | N/A |
Summary: Old Palo Alto housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Old Palo Alto, CA
How many homes are available in Old Palo Alto, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Summary: The Old Palo Alto real estate market had 7 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 1 | 1 | 0.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Old Palo Alto housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Old Palo Alto, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Old Palo Alto in March 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Old Palo Alto, CA
How long does it take to sell a home in Old Palo Alto, CA?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 42 Days | 9 Days | -78.6% |
Summary: Homes in Old Palo Alto had an average of 9 days on market in Mar 2024, down by 78.6% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Old Palo Alto are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Old Palo Alto; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.