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Learn about natural hazards and environmental risks, such as floods, storms, fires, droughts and heat risks that could impact homes in East Palo Alto. Sacramento was the most popular destination among East Palo Alto homebuyers followed by Los Angeles and Seattle. 76% of East Palo Alto homebuyers searched to stay within the East Palo Alto metropolitan area.
HUD homes are owned by the US Department of Housing and Urban Development and present a greater range of financing options than traditional homebuying paths. HUD homes in Palo Alto aren't just a way to get into a housing market that is already experiencing shortages, they may just be the ideal way for you. To learn more about our current HUD homes in Palo Alto, PA, register today! Short summary of 4 key Old Palo Alto townhouse real estate trends which can be printed. Short summary of 4 key Old Palo Alto single family house real estate trends which can be printed. The predominate size of homes in the city based on the number of bedrooms.
Popular Neighborhoods in Palo Alto
The lowest number of townhouses sold typically occurs around December & January. This seasonal variation is often altered for townhouse sales by a large new development beginning to sell their townhouses. Price changes do not track the seasonal change in the number of townhouses sold. A quick estimate of how active the Old Palo Alto townhouse real estate market can be found by looking at the number of townhouses sold. When trying to understand Old Palo Alto townhouse prices the first and most often real estate trend looked at is either average or median townhouse sales price. The average price can be pushed up by a particularly expensive townhouse being sold.
Importantly, this makes Palo Alto one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength. This volume-zone demand mainly consists of local young couples, at least one of whom works in high tech, benefiting from the solid tech economy. These young families are moving from other parts of the Bay Area to cut commute times and get their children into Palo Alto schools. For a simple, stress-free transaction, consider selling to pre-approved iBuyers ready to make offers on your home.
Yearly Average Price Per Square Foot for Palo Alto Condos
Palo Alto condo buyers and sellers want to know the typical relationship between list price and sales price. More condos being sold over list price is a very good indicator of rising demand for condos. More condos being sold under list price is a very good indicator of falling condo demand. A quick estimate of how active the Palo Alto townhouse real estate market is can be found by looking at the number of townhouses sold. Locally there is a strong seasonal change in the number of townhouses sold.
Chicago homebuyers searched to move into East Palo Alto more than any other metro followed by Kalamazoo and Pullman. Across the nation, 3% of homebuyers searched to move into East Palo Alto from outside metros. In Sep '22 - Nov '22, 24% of East Palo Alto homebuyers searched to move out of East Palo Alto, while 76% looked to stay within the metropolitan area. Tearing apart your drywall to insulate your walls is nothing but a hassle. You have to move everything out of that room, and sometimes you will have to move your whole family out of the house.
East Palo Alto Key Takeaways
However, the high cost of living affords you one of the most unique cities on the west coast. Let’s take a look at how much it costs to live in Palo Alto, California. It’s a place to connect with a local agent, explore financing solutions, schedule home tours, understand your buying and selling power, and more. ClimateCheck™ analyzes a property's risk from climate change using the latest modeling and data from climate scientists, universities, and federal agencies.
If a home buyer searches for real estate trends or house prices in a Silicon Valley city, they will almost surely find julianalee.com on the first page of Google search results. In fact searching for "Silicon Valley real estate trends" will probably return julianalee.com in the first position or at least in a one of the first three. Similarly searching for "Palo Alto real estate trends" will probably return julianalee.com in one of the first three positions. We achieve similar excellent search results for nearly all Silicon Valley cities. Looking at the average lot size of houses being sold can provide additional insight into the Palo Alto real estate market.
Yearly Average Size of Old Palo Alto & Palo Alto Houses Sold
Homes include single family houses as well as apartment and condominium units. At the high end, buyers become more demanding on location and lot size. All have large lots, bigger than 10,000 square feet, on ideal streets in Old Palo Alto and Crescent Park. Homes settled below $3.5 million normally attracted multiple offers and the number ranged from two offers to close to 30 on each listing. Severe competition among buyers at this price range tend to drive selling prices up significantly above listing prices. The 2017 Palo Alto property market took a surprising upturn from a soft 2016.
The median price of all sold homes in Palo Alto as of Dec. 1 reached a new high of $2.67 million, an 11 percent increase from 2016. Limited supply coupled with strong demand both domestically and internationally were the main drivers. Our seller team also gets current knowledge about what problems buyers are currently facing and how the problems are minimized. If a buyer makes an offer to buy your home but runs into problems getting a loan, we can help with expert current advice. Since our buyer team gets potential buyers from our seller team, they want our seller team to be successful and knowledgeable about issues buyers are facing. Our buyer team can represent buyers while our seller team can represent sellers without a conflict of interest or loyalty.
Even still, average rent costs are generally $1,000 more than the national average, or more, in Palo Alto. The average cost of rent in California is $1,429, and Palo Alto is one of the more expensive cities. With that said, renting is expensive in Palo Alto and costs more than other major California cities. The median gross rent in Palo Alto is $2,471 per month, and that’s before the cost of utilities. California is home to a whopping 482 cities, and they are mostly notably expensive.
The behavior of buyers and sellers can be somewhat different depending on the price of the townhouse. There are times when low to mid-range townhouses are selling quickly but higher priced townhouses aren't or the reverse may be true. It can take several years for a townhouse development to begin selling but it was surely built to target expected demand. Looking at the average size of townhouses being sold can provide additional insight into the townhouse real estate market. Many people look at "Days On Market", the average number of days a townhouse is offered for sale before it sells, to spot changes in the townhouse real estate market. Increasing DOM implies buyers are not being as competitive to buy townhouses.
Find a top agent with a proven track record of selling homes faster than their peers or who can help you find your dream home, no matter how quickly their market moves. Driving in Palo Alto is expensive due to the high cost of gasoline and car insurance premiums. Right now, gasoline costs up to $3.50 per gallon, and congested traffic in Palo Alto eats up gas. Your current cheapest option for gasoline is $2.89 per gallon, but gas prices change week to week. You can still save money by renting over buying as rent costs are often lower than Palo Alto ownership costs.
Produce such as apples and potatoes cost $2.40 and $1.40 per pound, respectively, in Palo Alto, CA. Dining out often is tempting in Palo Alto due to the great options for restaurants and California cooking. With that said, you can save hundreds each month if you choose to buy groceries instead of eating at restaurants. Low to mid-ranged restaurants cost between $12-$16 per person, and fancy meals cost up to $85 for two.
Old Palo Alto Real Estate Trends - Townhouse Sales Prices vs. List Prices
Affordable housing is somewhat hard to find in Palo Alto as a homeowner, and monthly ownership costs are quite high. In November 2022, Palo Alto home prices were down 20.9% compared to last year, selling for a median price of $2.8M. On average, homes in Palo Alto sell after 22 days on the market compared to 11 days last year. There were 37 homes sold in November this year, down from 69 last year. Save both your time and money by working with the best Old Palo Alto Realtor.
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