Palo Alto Real Estate Market
Prices, homes for sale and how fast they sell.

By Amrit Singh, REALTOR® · Updated October 14, 2026 · MLS data through the end of September 2026

Palo Alto at a glance: September 2026

Single family homes, compared with September 2025. The small line under each number is the last 13 months.

Are Palo Alto home prices going up or down?

In September 2026, single family homes in Palo Alto sold for a median of $4.17M, down 5% from a year earlier. From January to September 2026, the median was $4.13M on 316 sales, up 6% from the same months of last year, and price per square foot was $2,236, up 9% from last year.

Palo Alto sees 7 to 55 house sales a month, so one month’s median moves with whichever homes happened to sell. Watch the line, not the latest dot. Price per square foot adjusts for size, and the year to date numbers below are the steadiest read.

This year vs last year

January to September 2026 compared with the same months of last year. These are the steadiest numbers on the page.

How many homes are for sale in Palo Alto?

52 single family homes were for sale in Palo Alto in September 2026 and 40 sold. That’s 1.3 months of supply, down from 1.6 a year earlier, when 59 were for sale and 36 sold.

Months of supply is homes for sale divided by homes sold that month: how long it would take to sell everything on the market at that pace if nothing new got listed. Under about 4 months usually favors sellers. Over about 6 favors buyers.

How fast are Palo Alto homes selling?

Half the houses that sold in September 2026 were on the market 8 days or less, compared with 8 days a year earlier. They sold for 109.3% of asking on average, up from 106.6% in September 2025.

Condos and townhomes in Palo Alto

31 condos and townhomes were for sale in September 2026 and 11 sold, compared with 21 and 7 a year earlier. From January to September 2026, the median was $1.53M on 105 sales, up 4% from the same months of last year, at $1,147 per square foot. With so few sales each month, the year to date numbers are the ones to trust.

Palo Alto vs nearby cities

Single family homes sold from January to September 2026. By price per square foot, Palo Alto costs less than Atherton and more than Los Altos and Menlo Park.

Amrit’s take

If you’re selling in Palo Alto

• Price to the last three months of sales and let buyers compete. Houses sold for 107.8% of asking on average this year, so buyers expect to bid.
• The first week or so decides it. Half the houses that sold this year went in 8 days or less.
• Don’t wait for spring. In 2026 the biggest premiums came in August and September: 110.9% and 109.3% of asking.
• Own a condo or townhome? Plan for about three weeks on the market and offers near asking: 101.8% on average this year.

Get your home’s value, based on the sales that actually compete with your house

If you’re buying in Palo Alto

• Budget for over asking. On a $4M list price, this year’s average of 107.8% is about $312,000 over.
• Have your loan approval done and the seller’s disclosures read before you write. Half the houses that sold this year went in 8 days or less.
• Compare price per square foot: $2,236 in Palo Alto this year vs $2,094 in Los Altos and $1,759 in Menlo Park.
• Condos and townhomes are where buyers have room: a median of 21 days on the market and 101.8% of asking.

See Palo Alto homes for sale now

Questions people ask about the Palo Alto market

Based on information from the MLSListings MLS as of 10/13/2026 for single family homes and condominiums/townhomes in Palo Alto: closed sales and active listings by month from October 2024 through September 2026, and closed sales from January 1 to September 30 of 2025 and 2026; and for single family homes in Fremont, Union City, Newark, Hayward, Menlo Park, Atherton, Los Altos, Cupertino, Saratoga, Los Gatos, Santa Clara, Milpitas and Pleasanton: closed sales from January 1 to September 30 of 2025 and 2026. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Percent changes are calculated from the full figures before rounding.