Home Values

Palo Alto Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$2,407,100

  • 21.7% 1-year change
  • 8.0% 1-year forecast

Market temperature 

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

Hot
Buyers' Market
Sellers' Market

The median home value in Palo Alto is $2,407,100. Palo Alto home values have gone up 21.7% over the past year and Zillow predicts they will rise 8.0% within the next year. The median rent price in Palo Alto is $3,850, which is higher than the San Jose Metro median of $2,890.

Foreclosures will be a factor impacting home values in the next several years. In Palo Alto 0.6 homes are foreclosed (per 10,000). This is the same as the San Jose Metro value of 0.6 and also lower than the national value of 3.5

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 3.5%, which is lower than the national value of 6.0%. 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 2.7%, which is lower than San Jose Metro at 3.8%.

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Relative ZHVI
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Palo Alto Market Overview

Data through May 31, 2015
  • $2,407,100 ZHVI
  • 8.0% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (May 31, 2016)
  • No data Median listing price
  • $2,375,000 Median sale price
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Palo Alto Market Health

Data through May 31, 2015
  • No recent data Very healthy
  • No data Average days on Zillow
  • 2.7% Homes with negative equity (15.4% US Avg) (Mar 31, 2015)
  • 3.5% Delinquent on mortgage (6.0% US Avg) (Mar 31, 2015)

Homes foreclosed (per 10,000)

1(Apr 30, 2015) Palo Alto
1 San Jose Metro
4 United States
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Neighborhoods in Palo Alto

Name Median ZHVI
Old Palo Alto $3,301,600
Barron Park $2,023,600
Green Acres $1,977,400
Name Median ZHVI
South of Midtown $1,837,300
Greenmeadow $1,826,500
College Terrace $1,661,500
Name Median ZHVI
Charleston Meadow $1,580,500
Ventura $1,412,400
Evergreen Park $1,117,500

Listings & Sales

Data through May 31, 2015
  • No recent data Median list price / sq ft
  • $1,421 Median sale price / sq ft
  • No data Listings with price cut
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Palo Alto Rentals

Data through May 31, 2015
  • Zillow Rent Index

  • $3,338 San Jose Metro
    $1,367 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 4.3 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • $3,850 Rent list price
  • $3.77 Rent list price / sq ft
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