15 new real estate properties in Palo Alto, California have been added to Ofirio in the last 7 days.
Of those new properties:
Palo Alto, California has a low demand for real estate. This is determined by the difference between the list price and the closed price, which on average is 3% lower than than the list price. Homes in Palo Alto, California are on the market for 67 days, on average among all of our listings.
This week the following real estate properties became available for sale:
The biggest change in price is in the 4 Beds segment and it is 82% ($825,500) more than the week prior.
The average closing price for real estate in Palo Alto California has grown by 10% from the last week, which amounted to $5,049,479.
As of February 2023 Palo Alto, CA is a seller market which means homes sell faster at a higher price. In February 2023, 4 homes (26.7%) sold at asking price, 5 homes (33.3%) sold below asking price, and 6 homes (40.0%) were sold above asking price. If purchasing a home there is little room to negotiate the price.
The median home price increased by 51.5% from $1,980,000 in February 2022 to $3,000,000 in February 2023. The number of homes sold in Palo Alto, CA has decreased by 44.4% over the last year from 27 in February 2022 to 15 homes in February 2023.
Homes in Palo Alto, CA have sold for 62.2% more per ft² than they did a year ago. As of February 2023 the average price per square foot is $1,903.