Palo Alto Housing Market Report January 2025•Santa Clara County, California

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Housing Prices in Palo Alto, CA

How much do homes in Palo Alto, CA cost?

Housing Market Conditions

Is Palo Alto, CA a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Palo Alto is a Seller's Market

Difference Since January 2024

Since last year, Palo Alto has remained a Seller's Market.

Insight

Palo Alto is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$3,400,000$1,779/SqFt
+$400,000
+13.3%

Based on all homes sold in the last 12 months

Insight

Homes in Palo Alto have sold for 13.3% more than they did a year ago.

Summary: The median home sold price in Palo Alto was $3,400,000 in January 2025, up 13.3% from last year, and the median price per square foot was $1,779.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Palo Alto
+13.3%
Los Altos
+9.1%
Los Altos Hills
+7.2%
Menlo Park
+6.7%
Mountain View
+2.3%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2024Jan 2025Change YoY
1$910.5K$880K
-3.3%
2$1.7M$1.4M
-16.6%
3$2.8M$3.1M
+12.1%
4$3.4M$4.0M
+17.5%
5$4.5M$5.5M
+22.5%

Summary: Palo Alto housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -3.3%. The home price for 2 bedroom homes decreased by -16.6%. The home price for 3 bedroom homes increased by +12.1%. The home price for 4 bedroom homes increased by +17.5%. The home price for 5 bedroom homes increased by +22.5%.

Housing supply in Palo Alto, CA

How many homes are available in Palo Alto, CA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
70Last MonthJan 2025
602 months agoDec 2024
+16.7 %
Change MoMDec – Jan

Summary: The Palo Alto real estate market had 70 homes for sale in Jan 2025, a 16.7 % increase compared to Dec 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
15Last MonthJan 2025
292 months agoDec 2024
-48.3 %
Change MoMDec – Jan

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
134
+33.3%
21916
-15.8%
31314
+7.7%
41216
+33.3%
51320
+53.8%

Summary: Palo Alto housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +33.3%. The inventory for 2 bedroom homes decreased by -15.8%. The inventory for 3 bedroom homes increased by +7.7%. The inventory for 4 bedroom homes increased by +33.3%. The inventory for 5 bedroom homes increased by +53.8%.

Asking Price vs. Sold Price

How much do homes in Palo Alto, CA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price5 Homes

At Asking Price3 Homes

Under Asking Price6 Homes

Insight

If you're buying a home in Palo Alto, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Palo Alto in January 2025, down by 48.3% month-over-month. Of the 14 sold homes, 43% were sold under asking, 21% were sold at asking, and and 36% were sold over asking.

Days on Market for Palo Alto, CA

How long does it take to sell a home in Palo Alto, CA?

Breakdown of Home Sale Times

Under 30 Days7 Homes

30 – 90 Days3 Homes

Over 90 Days5 Homes

Insight

Many homes in Palo Alto are selling fast, if you're buying plan to act quickly.

Summary: During January 2025, 15 homes were sold in Palo Alto; 47% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
57 DaysThis YearJan 2025
47 Days1 year agoJan 2024
+19.8 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in Palo Alto had an average listing age of 57 days in Jan 2025, up by 19.8% compared to the previous year.

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Newest Listings in Palo Alto, CA

What homes are available in Palo Alto, CA?

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Nearby markets

Popular Cities with Homes for Sale in California

MLS Disclaimers and Copyright

Based on information from California Regional MLS, for the period 02/01/2023 - 02/01/2025

IDX 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.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/19/2025, 9:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.