Palo Alto Real Estate & Homes for Sale in California
Featuring a unique blend of business and residential areas anchored by a vibrant downtown, Palo Alto itself is one of the most desired places to live in the Bay Area. With tree-lined streets and historic buildings that reflect its California heritage, Palo Alto reflects its past while embracing the future. The city of Palo Alto is recognized around the world as a leading center of cutting-edge technological development as well as being home to Stanford University, one of the most prominent colleges in the country.(more)
Palo Alto offers its residents an excellent quality of life with good schools, plenty of cultural and recreational opportunities, lots of shopping, a strong local economy and easy access to all of the Bay Area. As might be expected, education plays an important part in the Palo Alto community. The city encompasses an area of approximately 26 square miles, of which one-third is open space featuring numerous parks and bike paths.
Palo Alto Real Estate Market: Prices of Palo Alto Homes for Sale
The Palo Alto real estate market in this area is made up primarily of single-family homes for sale. Prices have escalated over the past several years, but have stabilized recently. Condominiums and townhouses can be found beginning at $900,000 ranging up to $2 million for large contemporary properties in select locations. Beautiful California single-family homes start at $1.5 million and run up to $13 million for large estate properties with hilltop views.
Palo Alto, California Average Home Sizes and Asking Prices
Palo Alto Real Estate Stats and Trends for the week of May 22nd, 2019: homes priced around $2,884,778 compared to $3,108,833 the previous week, showing a decrease of less than -8%. For Wednesday, May 22nd, the current national mortgage rate for a 30 year fixed mortgage is 4.51%; the 15 year fixed rate is at 3.90%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.41%, while the 15 year jumbo rate currently is at 4.12%.