Palo Alto Home Price Update-2016

By
Real Estate Agent with (408) 425-1601 CA bre 1519182
https://activerain.com/droplet/4N5G

Palo Alto had the most number of professionals with attorneys, physicians and academic professionals who had full employment. The number of home owners who bought the properties with cash or have no mortgage did not prompt to any sizable home value loss. Its price erosion stayed 15 months. The unemployment rate in PA was ½ of other cities in the south Bay at 7% and recovered in Q2 2010. By mid-2015 it remained at 2.4%.

 

PALO ALTO SINGLE FAMILY HOMEs

 

1200-2000 sf

3 br, 2 bath+

 

Months downturn

 

$/sf

AVG sold $

during Great Recession

10 yr price change

206%

204%

 

15 months

 

 

 

 

1,697 homes

5 years

195%

192%

     

 

 

 

     

3 years

159%

157%

     

 

 

 

     

last yr   -2015

115%

113%

     
           

baseline

         

2005

$761/sf

$1.216M

     

2015

$1,565/sf

$2.482M

     

 During the 15 months the avg single family home of interest dropped to -8%. But some of the other neighborhoods the price may have dropped a total 40-50%.

Average home of interest(1300-2000 sf) was $2.482 Million dollars at $1,565 sf/sf.  One of the highest areal price in the world.


Palo Alto home prices

 

Sam Shueh Realtor

 I've called San Francisco South Bay home for over 37 years. We love this area and all it has to offer, and I enjoy sharing what I know about homes.  I documented in several books about Silicon Valley history. I have much expertise in real estate...please give me a call.   SamShuehRealtor at Gmail (Four-O-Eight)

425-1601   http:/SiliconValleyRealtors.info/

 

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Topic:
Real Estate Market Trends
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California Santa Clara County Palo Alto
Tags:
real estate prices
palo alto homes
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Rainmaker
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Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

Hi Sam Shueh, Nice market report the graph makes it so easy to grasp.

Jan 18, 2016 09:17 AM #1
Rainmaker
213,656
Joy Bender
Compass - La Jolla, CA
San Diego Partner - The Private Client Network

Thanks for sharing Sam nice chart and graph for Palo Alto.  Have a great week.

Jan 18, 2016 09:21 AM #2
Ambassador
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1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Sam,  Home prices in Palo Alto are waaaay above anything else that I know about.  Hope it provides great opportunities for you.

Jan 18, 2016 09:52 AM #3
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