Palo Alto, CA Housing Market: Home Prices and Trends
Palo Alto, Santa Clara County, Silicon Valley. Home prices, inventory, and real estate market trends from five years of MLS data, updated monthly.
- Median sale price
- The median sale price of a home in Palo Alto was $3.65M in September 2026, based on 46 closed sales, down 7.1% vs Last Year. The average sale price was $3.86M, down 13.6% vs Last Year.
- Compared with the county
- The Palo Alto median sale price of $3.65M sits 121.0% above the Santa Clara County median of $1.65M for September 2026.
- Days on market
- Homes in Palo Alto sold in a median of 9 days on market in September 2026, and an average of 23 days, up 12.0% vs Last Year. The county average was 31 days.
- Active listings
- There were 88 active listings in Palo Alto as of September 15, 2026, down 24.8% vs Last Year, or 2.2 months of supply against 2.5 months countywide.
- Sale to list ratio
- Closed sales in Palo Alto averaged 108.0% of final list price in September 2026, up 2.6% vs Last Year. The Santa Clara County figure was 103.3%.
- Closed sales, 2026
- 396 homes closed in Palo Alto from January through September 2026 for $1.65B, up 7.0% in sales and up 10.1% in volume vs Last Year.
- Sale price, 2026 year to date
- The 2026 year to date median sale price in Palo Alto is $3.57M, up 0.5% vs Last Year. The year to date average sale price is $4.18M, up 2.9% vs Last Year.
- Price per square foot, 2026 year to date
- The 2026 year to date median price per square foot in Palo Alto is $2,000, up 4.7% vs Last Year. The average price per square foot is $1,964, up 5.3% vs Last Year.
The Palo Alto market in September 2026
One figure stands out for Palo Alto in September 2026: the September median sale price of $3.65M was 121.0% above the Santa Clara County median of $1.65M. Palo Alto recorded a median sale price of $3.65M in September 2026, based on 46 closed sales, 7.1% below September 2025, and an average sale price of $3.86M, 13.6% lower. Across Santa Clara County the median sale price was $1.65M, so the median Palo Alto sale was 121.0% above the county median. Palo Alto homes sold in a median of 9 days and an average of 23 days, up 12.0% vs Last Year on average, 8 days quicker than the county average of 31. The aggregate sale to list ratio was 108.0%, against the county figure of 103.3%. From January through September 2026, 396 homes closed in Palo Alto for a combined $1.65B, compared with 370 sales and $1.50B over the same nine months of 2025. The 2026 year to date median sale price of $3.57M is 0.5% above the same months of 2025, the average of $4.18M is 2.9% higher, and the median price per square foot of $2,000 is 4.7% higher.
Aegis Market Read: Palo Alto, September 2026
Calculated by Aegis Luxury Real Estate from MLSListings Inc. data
The September median sale price of $3.65M was 121.0% above the Santa Clara County median of $1.65M. Closed sales in Palo Alto averaged 108.0% of final list price in September, against 103.3% across Santa Clara County. Homes in Palo Alto sold in an average of 23 days on market in September, against 31 days countywide. Half of September's sales closed within 9 days on market while the average ran 23 days, so most homes went under contract well inside the average and a smaller group of slower listings pulled it up. Buyers had less to choose from, with 88 active listings on September 15, 2026, down 24.8% vs Last Year, while closed sales still averaged 108.0% of final list price, above the final asking price. The September median sale price of $3.65M sits above the 2026, Jan to Sep median of $3.57M, one month set against the year so far.
What is the median home price in Palo Alto?
The median sale price in Palo Alto was $3.65M in September 2026, down 7.1% vs Last Year, against a Santa Clara County median of $1.65M. The average sale price was $3.86M. For 2026 to date the median is $3.57M and the average is $4.18M, with a median price per square foot of $2,000 and an average of $1,964.
Median sale price, Palo Alto, by month, 2021 to 2026, with the 2026 Santa Clara County median, in millions
Median sale price, last 12 months as text
Oct 2025 $3.49M, Nov 2025 $3.08M, Dec 2025 $3.46M, Jan 2026 $3.04M, Feb 2026 $3.33M, Mar 2026 $3.54M, Apr 2026 $3.62M, May 2026 $3.56M, Jun 2026 $3.30M, Jul 2026 $4.25M, Aug 2026 $3.91M, Sep 2026 $3.65M. Santa Clara County 2026: Jan $1.48M, Feb $1.63M, Mar $1.70M, Apr $1.73M, May $1.70M, Jun $1.65M, Jul $1.61M, Aug $1.55M, Sep $1.65M.
Palo Alto sale price by year, with Santa Clara County
| Year | Median sale price | Median vs Last Year | Average sale price | Average vs Last Year | Median price per sq ft | Average price per sq ft | County median sale price |
|---|---|---|---|---|---|---|---|
| 2021 | $3.31M | +20.4% | $3.47M | +11.1% | $1,644 | $1,673 | $1.39M |
| 2022 | $3.30M | -0.3% | $3.46M | -0.2% | $1,724 | $1,767 | $1.50M |
| 2023 | $3.10M | -6.1% | $3.41M | -1.4% | $1,705 | $1,721 | $1.50M |
| 2024 | $3.41M | +10.1% | $3.71M | +8.6% | $1,802 | $1,788 | $1.63M |
| 2025 | $3.50M | +2.6% | $4.01M | +8.3% | $1,899 | $1,865 | $1.67M |
| 2026, Jan to Sep | $3.57M | +0.5% | $4.18M | +2.9% | $2,000 | $1,964 | $1.65M |
| Last 12 months | $3.52M | +0.0% | $4.10M | +3.4% | $1,951 | $1,941 | $1.64M |
Annual figures are calculated from all closed sales reported to MLSListings Inc. for that calendar year, all property types. The 2026 row covers January through September and is compared with January through September 2025, the same comparison used in the answers above. Last 12 months covers October 2025 through September 2026 and is compared with the 12 months before it.
Palo Alto sale price by month, 2026 against 2025
| Month | Median 2026 | Median 2025 | Median vs Last Year | Average 2026 | Average 2025 | County median 2026 |
|---|---|---|---|---|---|---|
| Jan | $3.04M | $2.18M | +39.8% | $3.30M | $3.02M | $1.48M |
| Feb | $3.33M | $3.53M | -5.7% | $4.09M | $4.46M | $1.63M |
| Mar | $3.54M | $4.20M | -15.8% | $4.36M | $4.50M | $1.70M |
| Apr | $3.62M | $3.16M | +14.7% | $4.12M | $3.67M | $1.73M |
| May | $3.56M | $3.65M | -2.6% | $4.45M | $4.23M | $1.70M |
| Jun | $3.30M | $3.27M | +0.9% | $4.26M | $3.71M | $1.65M |
| Jul | $4.25M | $3.72M | +14.3% | $4.86M | $4.54M | $1.61M |
| Aug | $3.91M | $3.35M | +16.5% | $3.77M | $3.61M | $1.55M |
| Sep | $3.65M | $3.93M | -7.1% | $3.86M | $4.47M | $1.65M |
How long does it take to sell a home in Palo Alto?
Homes in Palo Alto sold in a median of 9 days on market in September 2026 and an average of 23 days, up 12.0% vs Last Year. The Santa Clara County average was 31 days. For 2026 to date the median is 9 days and the average is 24 days.
Average days on market, Palo Alto, by month, 2021 to 2026, with the 2026 Santa Clara County average, days
Average days on market, last 12 months as text
Oct 2025 28, Nov 2025 31, Dec 2025 48, Jan 2026 33, Feb 2026 22, Mar 2026 20, Apr 2026 19, May 2026 21, Jun 2026 32, Jul 2026 25, Aug 2026 26, Sep 2026 23. Santa Clara County 2026: Jan 40, Feb 27, Mar 21, Apr 20, May 23, Jun 26, Jul 32, Aug 30, Sep 31.
Palo Alto days on market by year, with Santa Clara County
| Year | Median days on market | Average days on market | Average vs Last Year | County average days on market |
|---|---|---|---|---|
| 2021 | 9 | 25 | -12.1% | 17 |
| 2022 | 9 | 21 | -17.6% | 18 |
| 2023 | 11 | 28 | +33.7% | 21 |
| 2024 | 9 | 21 | -24.4% | 19 |
| 2025 | 9 | 26 | +21.2% | 24 |
| 2026, Jan to Sep | 9 | 24 | +4.3% | 27 |
| Last 12 months | 9 | 26 | +12.9% | 27 |
Days on market is the MLS days on market field reported for each closed sale; sales without that field are left out. The median is the middle sale when every sale is ranked by days on market, so a handful of slow sales moves the average far more than the median. The 2026 row is compared with January through September 2025.
Palo Alto days on market by month, 2026 against 2025
| Month | Median 2026 | Median 2025 | Average 2026 | Average 2025 | Average vs Last Year | County average 2026 |
|---|---|---|---|---|---|---|
| Jan | 8 | 60 | 33 | 60 | -45.0% | 40 |
| Feb | 9 | 9 | 22 | 23 | -7.0% | 27 |
| Mar | 8 | 7 | 20 | 14 | +38.8% | 21 |
| Apr | 9 | 8 | 19 | 14 | +32.5% | 20 |
| May | 10 | 8 | 21 | 19 | +8.9% | 23 |
| Jun | 12 | 9 | 32 | 20 | +57.6% | 26 |
| Jul | 9 | 15 | 25 | 30 | -16.5% | 32 |
| Aug | 12 | 14 | 26 | 30 | -12.5% | 30 |
| Sep | 9 | 8 | 23 | 21 | +12.0% | 31 |
How many homes are for sale in Palo Alto?
There were 88 active listings in Palo Alto as of September 15, 2026, down 24.8% vs Last Year. That is 2.2 months of supply at the pace of sales over the prior three months, against 2.5 months across Santa Clara County.
Active listings on the 15th, Palo Alto, by month, 2021 to 2026, listings
Active listings, last 12 months as text
Oct 2025 100, Nov 2025 90, Dec 2025 48, Jan 2026 45, Feb 2026 89, Mar 2026 109, Apr 2026 102, May 2026 105, Jun 2026 92, Jul 2026 83, Aug 2026 76, Sep 2026 88.
Palo Alto average active listings by year
| Year | Average active listings | vs Last Year |
|---|---|---|
| 2021 | 119 | |
| 2022 | 97 | -18.5% |
| 2023 | 84 | -14.1% |
| 2024 | 85 | +1.3% |
| 2025 | 94 | +10.7% |
| 2026, Jan to Sep | 88 | -10.9% |
Active listings are counted on the 15th of each month and include listings under contract that had not yet closed. The annual figure is the average of the monthly counts; the 2026 row averages January through September and is compared with the same months of 2025.
Palo Alto active listings by month, 2026 against 2025
| Month | 2026 | 2025 | vs Last Year |
|---|---|---|---|
| Jan | 45 | 39 | +15.4% |
| Feb | 89 | 69 | +29.0% |
| Mar | 109 | 106 | +2.8% |
| Apr | 102 | 104 | -1.9% |
| May | 105 | 126 | -16.7% |
| Jun | 92 | 118 | -22.0% |
| Jul | 83 | 107 | -22.4% |
| Aug | 76 | 100 | -24.0% |
| Sep | 88 | 117 | -24.8% |
Palo Alto active listings by price band, September 15, 2026
| Price band | Active listings | Share of listings | Months of supply |
|---|---|---|---|
| Under $1.5M | 15 | 17% | 3.2 |
| $1.5M to $2.5M | 11 | 13% | 1.9 |
| $2.5M and above | 62 | 70% | 2.1 |
| All price bands | 88 | 100% | 2.2 |
Price bands use the current list price of each active listing. Months of supply is active listings in the band divided by the average monthly closed sales in that band, by closing price, over the prior three months.
How many homes sold in Palo Alto this year?
396 homes closed in Palo Alto from January through September 2026, up 7.0% from the 370 that closed over the same nine months of 2025. Total sales volume for the period is $1.65B, up 10.1% vs Last Year.
Closed sales, Palo Alto, by month, 2021 to 2026, homes
Closed sales, last 12 months as text
Oct 2025 54, Nov 2025 40, Dec 2025 32, Jan 2026 20, Feb 2026 38, Mar 2026 42, Apr 2026 59, May 2026 70, Jun 2026 48, Jul 2026 35, Aug 2026 38, Sep 2026 46.
Palo Alto closed sales by year
| Year | Closed sales | vs Last Year |
|---|---|---|
| 2021 | 651 | +51.4% |
| 2022 | 456 | -30.0% |
| 2023 | 390 | -14.5% |
| 2024 | 461 | +18.2% |
| 2025 | 496 | +7.6% |
| 2026, Jan to Sep | 396 | +7.0% |
Closed sales are counted by closing date. The 2026 comparison is measured against January through September 2025. The September average over 2021 to 2025 was 42 closed sales.
Palo Alto closed sales by month, 2026 against 2025
| Month | 2026 | 2025 | vs Last Year |
|---|---|---|---|
| Jan | 20 | 14 | +42.9% |
| Feb | 38 | 28 | +35.7% |
| Mar | 42 | 47 | -10.6% |
| Apr | 59 | 49 | +20.4% |
| May | 70 | 49 | +42.9% |
| Jun | 48 | 55 | -12.7% |
| Jul | 35 | 38 | -7.9% |
| Aug | 38 | 49 | -22.4% |
| Sep | 46 | 41 | +12.2% |
Do Palo Alto homes sell above asking price?
Yes. Closed sales in Palo Alto averaged 108.0% of final list price in September 2026, up 2.6% vs Last Year, against 103.3% across Santa Clara County. A ratio above 100% means the average closing price was higher than the average final list price.
Sale to list ratio, Palo Alto, by month, 2021 to 2026, with the 2026 Santa Clara County ratio, percent
Sale to list ratio, last 12 months as text
Oct 2025 102.8%, Nov 2025 105.9%, Dec 2025 100.7%, Jan 2026 103.7%, Feb 2026 100.7%, Mar 2026 105.3%, Apr 2026 104.1%, May 2026 105.0%, Jun 2026 102.2%, Jul 2026 105.2%, Aug 2026 108.2%, Sep 2026 108.0%. Santa Clara County 2026: Jan 102.8%, Feb 104.5%, Mar 105.7%, Apr 104.4%, May 103.8%, Jun 102.5%, Jul 101.8%, Aug 102.8%, Sep 103.3%.
Palo Alto sale to list ratio by year
| Year | Sale to list ratio | vs Last Year | County ratio |
|---|---|---|---|
| 2021 | 104.9% | +5.9% | 107.5% |
| 2022 | 104.5% | -0.4% | 106.6% |
| 2023 | 100.7% | -3.7% | 103.1% |
| 2024 | 103.4% | +2.7% | 105.4% |
| 2025 | 103.9% | +0.5% | 103.8% |
| 2026, Jan to Sep | 104.7% | +0.5% | 103.6% |
Sale to list ratio is the average closing price divided by the average final list price across closed sales for the period. The 2026 row is compared with January through September 2025.
Palo Alto sale to list ratio by month, 2026 against 2025
| Month | 2026 | 2025 | vs Last Year | County 2026 |
|---|---|---|---|---|
| Jan | 103.7% | 99.7% | +4.1% | 102.8% |
| Feb | 100.7% | 105.3% | -4.3% | 104.5% |
| Mar | 105.3% | 106.7% | -1.3% | 105.7% |
| Apr | 104.1% | 104.0% | +0.1% | 104.4% |
| May | 105.0% | 104.1% | +0.9% | 103.8% |
| Jun | 102.2% | 104.2% | -2.0% | 102.5% |
| Jul | 105.2% | 103.1% | +2.0% | 101.8% |
| Aug | 108.2% | 101.9% | +6.1% | 102.8% |
| Sep | 108.0% | 105.3% | +2.6% | 103.3% |
Your neighbors are selling. Should you?
Palo Alto closed sales averaged 108.0% of final list price in September and the 2026 year to date median sale price is $3.57M. Get a current valuation built from the same MLS data on this page.
Palo Alto home prices by property type
The 2026 year to date median sale price in Palo Alto was $4.17M for a single family home, $1.81M for a townhome, and $1.38M for a condo. The average sale prices were $4.99M, $1.91M, and $1.63M.
Palo Alto 2026 year to date by property type
| Property type | Median sale price | Average sale price | Median price per sq ft | Average price per sq ft | Median days on market | Average days on market | Sale to list | Closed sales |
|---|---|---|---|---|---|---|---|---|
| Single Family | $4.17M | $4.99M | $2,154 | $2,234 | 8 | 20 | 105.0% | 298 |
| Townhome | $1.81M | $1.91M | $1,170 | $1,229 | 20 | 31 | 103.4% | 28 |
| Condo | $1.38M | $1.63M | $1,049 | $1,111 | 22 | 36 | 100.8% | 70 |
Property types follow the MLSListings Inc. classification of each closed sale. Figures cover January through September 2026.
How has the Palo Alto market changed over five years?
Comparing January through September of each year, the median sale price in Palo Alto rose from $3.25M in 2021 to $3.57M in 2026, a total increase of 9.8% and an average annual increase of 1.9%. The average sale price rose 21.2% over the same period, from $3.45M to $4.18M.
Palo Alto five year change, January through September, 2021 to 2026
| Metric | 2021, Jan to Sep | 2026, Jan to Sep | Five year change |
|---|---|---|---|
| Median sale price | $3.25M | $3.57M | +9.8% |
| Average sale price | $3.45M | $4.18M | +21.2% |
| Median price per square foot | $1,630 | $2,000 | +22.7% |
| Average price per square foot | $1,644 | $1,964 | +19.5% |
| Median days on market | 9 | 9 | +0 days |
| Average days on market | 26 | 24 | -2 days |
| Sale to list ratio | 104.1% | 104.7% | +0.6 points |
| Active listings in September | 129 | 88 | -31.8% |
| Closed sales, January to September | 475 | 396 | -16.6% |
Five year change always compares the same months: January through September 2021 with January through September 2026. In the December report it compares full calendar years. Days on market and sale to list ratio are shown as absolute differences because a percentage change on a ratio misreads easily.
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How every figure on this page is produced. The same definitions apply to every city report and the Santa Clara County report.
Show all 15 definitions
| Item | Definition |
|---|---|
| Source | Closed sales and active listings reported to MLSListings Inc. Statistics are calculated by Aegis Luxury Real Estate from that data. |
| Geographic coverage | A sale is counted in Palo Alto when the MLSListings Inc. city field for the property is Palo Alto and the property is in Santa Clara County. |
| Property types | Single family homes, townhomes, and condos, as classified by MLSListings Inc. Figures marked all property types combine the three. |
| Median | The middle value when every closed sale in the period is ranked, calculated from individual sales. |
| Average | The total of all values in the period divided by the number of closed sales. |
| Days on market | The MLS days on market field reported for each closed sale. Sales without that field are left out of the days on market figures. |
| Active listings | Listings on the market on the 15th of each month: listed on or before that date and not yet closed, canceled, expired, or withdrawn. Listings under contract count until they close. |
| Months of supply | Active listings on the 15th divided by the average monthly closed sales over the three months before that month. |
| Sale to list ratio | Average closing price divided by average final list price across closed sales in the period. |
| vs Last Year | The same month one year earlier. |
| Year to date | January through the latest completed month, compared with the same months of the prior year. |
| Last 12 months | The 12 completed months ending with the latest month, compared with the 12 months before them. |
| County comparisons | County figures cover residential sales in the 15 incorporated cities of Santa Clara County; unincorporated areas are not included. County medians are calculated from every qualifying sale across the 15 incorporated cities, not from city medians. County averages and ratios are weighted by closed sales. |
| Update cadence | Statistics update once a month and always cover the previous completed month. Listing data referenced in the MLS disclosure refreshes separately. |
| Small samples | When a month has fewer than 10 closed sales, the page shows the sale count and notes that monthly medians and averages can move sharply; year to date and last 12 months figures are the steadier read. |
Palo Alto market questions, answered
The questions Timothy hears most about the Palo Alto market. Every figure below reads from the same data as the tables above.
Is Palo Alto a buyer's or seller's market right now?
Closed sales in Palo Alto averaged 108.0% of final list price in September 2026, so in aggregate sellers closed above final list price. Active listings numbered 88 on September 15, 2026, down 24.8% vs Last Year. Months of supply was 2.2 in Palo Alto against 2.5 across Santa Clara County. Price band, condition, and location decide which side has the edge on any single home.
How long does it take to sell a home in Palo Alto?
Homes in Palo Alto sold in a median of 9 days and an average of 23 days on market in September 2026, with the average up 12.0% vs Last Year, against a county average of 31. For 2026 to date, single family homes in a median of 8 and an average of 20, townhomes in a median of 20 and an average of 31, and condos in a median of 22 and an average of 36. When the average runs well above the median, a smaller group of slower sales is pulling the average up.
What is the median home price in Palo Alto?
The median sale price in Palo Alto was $3.65M in September 2026, down 7.1% vs Last Year. The average sale price was $3.86M, down 13.6% vs Last Year. The Santa Clara County median sale price for the same month was $1.65M. For 2026 to date the Palo Alto median is $3.57M and the average is $4.18M, with a median price per square foot of $2,000 and an average of $1,964. The median is the middle sale when every closed sale is ranked by price; the average is the total of all sale prices divided by the number of sales. Both are calculated from closed transactions reported to MLSListings Inc. and update once a month.
How many homes sold in Palo Alto in 2026?
396 homes closed in Palo Alto from January through September 2026, up 7.0% from the 370 that closed over the same nine months of 2025. Total sales volume for the period is $1.65B, up 10.1% vs Last Year. By property type, single family homes for 298, townhomes for 28, and condos for 70.
Should I buy now or wait for prices to drop?
The five year table on this page shows the recorded trend rather than a forecast. Comparing January through September 2021 with the same months of 2026, the Palo Alto median sale price has risen an average of 1.9% per year and the average sale price has risen 3.9% per year, with the year to date median lower than the year before in 2023. Waiting pays when the financing cost you avoid and the rent you pay in the meantime outweigh the change in price. A buyer brief models this for your own numbers before you commit to a strategy.
How does Palo Alto compare to nearby cities?
Nearby cities include Los Altos, Los Altos Hills, and Mountain View. Palo Alto's September 2026 median sale price of $3.65M is above the county median of $1.65M, and its 2.2 months of supply compares with 2.5 across the county. Each city has its own pricing, inventory, and pace of sales, and the market reports for nearby cities at the bottom of this page open the same set of metrics for each of them.
Timothy Alston
Broker, DRE# 01328224, Aegis Luxury Real Estate. 23 years in Silicon Valley.
I built this entire data platform because I believe buyers and sellers deserve transparent, real time market intelligence, not guesswork. Every figure on every city page comes from the same MLS feed I use to advise my clients. The difference between a good deal and a great deal is knowing what the data says before you sit down at the table.
Schedule a consultation (408) 207-4593From the Palo Alto desk
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