Palo Alto Home Prices & Values

$2,021,600 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 12.1% 1-year change
  • 5.9% 1-year forecast

Market Temperature: HotWhat's This?
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Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Buyers' Market Sellers' Market

The median home value in Palo Alto is $2,021,600. Palo Alto home values have gone up 12.1% over the past year and Zillow predicts they will rise 5.9% within the next year. The median list price per square foot in Palo Alto is $1,150, which is higher than the San Jose Metro average of $454. The median price of homes currently listed in Palo Alto is $2,198,000 while the median price of homes that sold is $1,726,500. The median rent price in Palo Alto is $3,671, which is higher than the San Jose Metro median of $2,750.

Foreclosures will be a factor impacting home values in the next several years. In Palo Alto 0.7 homes are foreclosed (per 10,000). This is the same as the San Jose Metro value of 0.7 and also lower than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Palo Alto is 5.7%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Palo Alto homeowners underwater on their mortgage is 3.3%, which is lower than San Jose Metro at 4.6%.

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Relative ZHVI
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Palo Alto Market Overview

Data through Aug 31, 2014
  • $2,021,600 ZHVI
  • 5.9% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Aug 31, 2015)
  • $2,198,000 Median listing price
  • $1,726,500 Median sale price
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Palo Alto Market Health

Data through Aug 31, 2014
  • 8.4/10 Very healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average days on Zillow
  • 3.3% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 5.7% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

0.7 homes(Jul 31, 2013) Palo Alto
0.7 homes San Jose Metro
4.3 homes United States
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Neighborhoods in Palo Alto

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Old Palo Alto $3,266,800 Barron Park $2,126,900 Green Acres $2,113,800
South of Midtown $1,917,400 Greenmeadow $1,881,600 College Terrace $1,774,400
Charleston Meadow $1,636,700 Ventura $1,447,800 Evergreen Park $1,082,500

Listings & Sales

Data through Aug 31, 2014
  • $1,150 Median list price / sq ft
  • $1,129 Median sale price / sq ft
  • 17.3% Listings with price cut
2.4%
Sold below listing
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Palo Alto Rentals

Data through Aug 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$3,101 San Jose Metro
$1,328 United States
  • 1.9 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2014)
  • $3,671 Rent list price
  • $3.50 Rent list price / sq ft
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