Palo Alto 94301 generally includes all areas north of Oregon Expressway east of Alma including downtown, Professorville, Old Palo Alto, and Crescent Park. This is Palo Alto's most expensive zip code as you will see by the median prices below.
Where is the market in this area of Palo Alto headed?
The median list price in Palo Alto 94301 increased to $2,475,500.
Average price per square foot in Palo Alto 94301 decreased to $951.
Average days on market increased to 90.
33% of the listings in Palo Alto 94301 have a price reduction.
The current market action index for Palo Alto 94301 is 20 - below 30 is considered a buyers' market.
This market action index is a higher higher - indicating a little warmer market - still a buyer's market but not as strongly so as other Palo Alto areas.
Below you will find chart showing market action index by price range over the past 6 months.
The price range is broken down into 4 quartiles:
Highest has median price of $5,495,000
2nd highest has median price of $2,649,000
3rd highest has median price of $1,922,250
Lowest has a median price range of $1,245,000
Wow ! The market action index took a big plunge right about time the stock market was going south.
But has rebounded strongly since that time. It is almost like the market took a real shot - then caught its breath - and then buyers started realizing what a fabulous place the older and most northern neighborhoods of Palo Alto are.
As an aisde the Facebook building on Hamilton Avenue is for sale at $9.1M.
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