Palo Alto SINGLE FAMILY RESIDENCES 2015 EDITION
Some notes on data SA L E DATE VS . C LO S E O F E S C ROW
BOX- A N D -W H I S K E R PLOT S
Some real estate sales statistics and graphics use Close of Escrow (COE) as the effective date of the sale. This makes some sense, as the sale isn’t final until escrow closes. It does, however, give a skewed view of the seasonality of the market since some sales may not close until a few months after the sale date. For all the statistics and graphics you see in this report, we have chosen to use the sale date (the date the contract was signed), to give you a more accurate picture of the state of the market.
To give you a sense of the range of home prices in a neighborhood, we include a type of diagram used in descriptive statistics: the box-and-whisker plot. This breaks down the homes sold into four quartiles, each with the same number of sales. The central rectangle (the “box”) shows the 2nd and 3rd quartiles, with the median between them. The whiskers that extend beyond the box show the 1st and 4th quartiles. Any outliers (sales that fall outside 1.5 times the width of the box) are shown as diamonds. $4.08m
SIZE INDEX
The size of a house in square feet is highly correlated with sale price and a commonly used measure, but it fails to take into account the size of the lot – often a significant factor in this region. For charts in the neighborhood section of this report, we use a size index that factors in lot size as well as house size, based on a regression analysis of their relative contribution to sale price in the city. The size index is more highly correlated with sale price than house size alone.
©2016 Dreyfus Sotheby’s International Realty
1Q min
2Q
3Q median
4Q max
outliers
SO U RC E S & O F F - M A R K E T SA L E S
Data for this report was provided by MLSListings, Inc., local county tax assessors offices, and other sources. Dreyfus Sotheby’s International Realty maintains our own database of off-market home sales – homes sold without being publicly listed. For this report, we incorporate these offmarket sales into the more generally available data. We believe the information in this report to be correct but have not independently verified the information and assume no legal responsibility for its accuracy.
Palo Alto SINGLE FAMILY RESIDENCES 2015 EDITION
The state of the single family residence market in one of the world’s most dynamic housing marketplaces.
Palo Alto
Palo Alto is one of the world’s great centers for technology and innovation. Whether it’s venture capital, computers, telecommunications, social networking, or biotech, Palo Alto is the engine that turns ideas into reality. Located halfway between San Francisco and San Jose, Palo Alto is the place in Silicon Valley where everything seems to happen. Unlike their more suburban neighbors, Palo Alto residents enjoy the opportunity to stay connected to the pulse, while still maintaining a sense of seclusion and privacy. While most famous cities are founded near natural resources, Palo Alto was founded upon something even more precious: human progress. This elevation of ingenuity and the human spirit runs through the city like a current of creative energy. In Palo Alto’s vibrant community, knowledge and business ideas are an integral part of daily life. While many affluent cities have vast properties and landscapes that separate neighbors, Palo Alto’s layout connects people. As a hub of innovation, Palo Alto has a gravity that naturally draws influential people and ideas to its center. Even those who live outside the city’s borders are drawn to its myriad restaurants and bars as meeting places for business and socializing. With Palo Alto’s low-key, accessible attitude, you never know who you might run into or what connections you will make here. In keeping with its foundation as a center for learning and innovation, the city is home to Stanford University as well as some of the most highly regarded public schools in the country. Most Palo Alto children attend their neighborhood public school, where they walk or bike to school, contributing further to Palo Alto’s strong “small town” flavor.
$3 million CHANGE F RO M 2 014
PA LO A LTO S U M M A RY
$2.5 million
Number of Homes: Homes sold in 2015: Median sale price: Average sale price: Average price/sq ft: Average days on market:
16,408 329 $2.65m $3.07m $1,542 17
-7.1% +9.5% +9.3% +13.0% 0%
$2 million Sept 2008: Sub-prime bubble bursts
$1.5 million Jan 2012: Start of the Unicorn Run
$1 million The graph of median prices for Palo Alto (20022015) reflects three housing cycles. The first: the dot.com crash of 2000 is seen reaching a bottom in 2003. The next – the sub-prime bubble – can be seen in the run from 2004 to 2008, collapsing with the fall of Lehman Brothers and the banking crisis in September 2008. The most recent “Unicorn Run” began in 2012 and resulted in a doubling of prices.
Feb 2004: End of the dot.com bust
$0.5 million
*Graph shows 6 month rolling average
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
East Menlo 101
Palo Alto Neighborhoods 84
Palo Alto
East Palo Alto
Atherton Menlo Park
82
CRESCENT PARK DOWNTOWN
GREEN GABLES
COMMUNITY CENTER
PROFESSORVILLE OLD PALO ALTO
101
SOUTH PALO ALTO
MIDTOWN
COLLEGE
VENTURA STANFORD BARRON PARK PALO ALTO HILLS
Mountain View
GREEN ACRES
82
280
Los Altos
Los Altos Hills
82
Palo Alto Home Sales by Neighborhood - 2015
alley
35
The box-and-whisker plots Old Palo Alto here span the range of Crescent Park home sale prices within each neighborhood, with PALO ALTO Community Center HILLS the large dot marking the Palo Alto Hills median. Diamonds beyond Downtown Palo Alto the reach of the whiskers Professorville are outliers: unusual sales both high and low. Green Gables See page 2 for a more detailed explanation of box-and-whisker plots.
$1m
$2m
$3m
$4m
$5m
$6m
$7m
$8m
$9m
$4.15m
44
$4.00m
29
$3.90m
21
$3.50m
5
$3.01m
12
$2.86m
11
$2.78m
44
$2.65m
Green Acres
4
$2.60m
College
25
$2.59m
Stanford
23
$2.56m
Midtown
42
$2.55m
Barron Park
28
$2.30m
South Palo Alto
95
$1.94m
Ventura $1m
$2m
Sales
10 $3m
$4m
$5m
$6m
$7m
$8m
$9m
85
Palo Alto Schools
In addition to the well-known neighborhood public schools in Palo Alto, a number of choice programs are available to residents, as are several wonderful private schools. E L E M E NTA RY S C H OO L S
A PI S CO R E
Addison Community Center, Crescent Park, Downtown, Professorville, Stanford
950
Barron Park Barron Park, Palo Alto Hills, Ventura
M I D D L E S C H OO L S
A PI S CO R E
David Starr Jordan College, Community Center, Crescent Park, Downtown, Green Gables, Old Palo Alto, Professorville, Stanford
938
873
Jane Lathrop Stanford (JLS) Midtown, South Palo Alto
936
Duveneck Community Center, Crescent Park, Green Gables
968
962
El Carmelo Midtown
950
Terman Barron Park, Green Acres, Palo Alto Hills, South Palo Alto, Stanford, Ventura
Escondido College, Stanford; also Spanish immersion district-wide by lottery
924
H I G H S C H OO L S
915
Fairmeadow Midtown, South Palo Alto
952
Henry M. Gunn Barron Park, Green Acres, Midtown, Palo Alto Hills, South Palo Alto, Stanford, Ventura
992
903
Herbert Hoover District-wide by lottery; alternative core curriculum Juana Briones Barron Park, Green Acres, South Palo Alto
942
Palo Alto College, Community Center, Crescent Park, Downtown, Green Gables, Midtown, Old Palo Alto, Professorville, South Palo Alto, Stanford
Lucille M. Nixon Palo Alto Hills, Stanford
959
Ohlone District-wide by lottery; alternative open education, Mandarin immersion
926
Palo Verde Midtown, South Palo Alto
963
Walter Hays College, Community Center, Green Gables, Old Palo Alto, Professorville
928
A PI S CO R E
Palo Alto has a Unified School District which administers all education levels.
i llo W Will ow
East Menlo
Hetch Hetchy
Menalt
o Av e
101
O ke e f
e St
Av e
ysh
ra n cis
milton Ave H am
Addison Elem. School
Cogswell Plaza
Palo Alto MedicalN E I G H BO R H OO D Clinic
S C H OO L S
d ll R
Rinconada Park
Walter Hays Elem. School
Houses Sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29 Median Sale Price. . . . . . . . . . . . . . . . . . . . $4,000,000 Average Sale Price . . . . . . . . . . . . . . . . . . . $4,366,927 Average Price/Square Foot. . . . . . . . . . . . . . . . $1,547 Average Days on Market . . . . . . . . . . . . . . . . . . . . .27 Greer Park
Jordan Jr. High School
Ste
rl
an
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101 an al
Homes for Sale vs. Closed Sales
Seale Park
C i ng
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Crescent Park Inventory - 2015
Ohlone Elem. School
lin
Sr. High School
DuveneckH O M E SA L E S DATA F O R 2 015 Elementary School Number of homes . . . . . . . . . . . . . . . . . . . . . . . . . . 911
er
Stanford Stadium
to
Palo Alto
the previous year. Homes continued to command e k e r C consistently high prices, including three of the top four sales for the year, one of them off-market.
St
Addison Elementary Bowling Duveneck Elementary Castilleja Green Park School Jordan Middle School (Priv.) Alto Palo AltoPalo High School
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Municipal Neighborhood East Perspective Municipal Golf Course
oreThe median price in Crescent Golf Park rose 18.9% from P A Duck Frw Course Pond y
Library Art Center Zoo
Library City Hall
we
Johnson Park
St. Elizabeth Seton School (Priv.) Eleanor Pardee Park Channing Ave
Ne
Un
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Lincoln Ave
ty
Av
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Palo Alto Airport
Palo Alto
Ba S an
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Crescent Park
8 7 6 5 Peers Hoover Keys 4 School Park Park Bowden Closed Sales 3 Park Homes for Sale 2 1Court 0House Our Lady of the Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Rosary School k Wallis ree Ramos El Carmelo yC Cameron r D Park Park Elem. School Park
Crescent Park is well-loved for its quiet suburban atmosphere while still having immediate access to downtown Palo Alto and neighboring urban areas. Local public schools are considered among the best in Northern California, and Palo Alto’s famous community services add to the appeal of this much-sought-after locale.
Crescent Park Home Sales 2015 Sale Price $10m
$9,250,000
$8m
$6m
Median
$4m
City Median
$2m
$1,000,000 Jan
Feb
Size Index
Mar
Apr
May
Jun
Jul
Bubble area reflects the property size index, which takes into account both the house size and lot size of each property. The highest and lowest sales for the year are highlighted.
Aug
Sep
Oct
Nov
Dec
Off-market sales are drawn from our proprietary database of private sales. See the inside front Off Market cover for more details. MLS Sale
Jan
Will o
Downtown Palo Alto Flood County Pk
101
ra n cis
milton A H am e Av
Lincoln Ave
ty r si i ve Un
Johnson Park
El Camino Park
Frw
y
q ui
to C re e k
Neighborhood Perspective
St. Elizabeth Seton School (Priv.) Downtown jump in the median sale price as Eleanor saw a bigDuveneck Elementary Pardee developers the neighborhood and built School Park jumped into
Addison Elem. School
Cogswell Plaza
ore
several new homes and residents sold homes that have had major remodels. Library Art Center
H O M E SA L E S DATA F O R 2 015 Rinconada Zoo Park Number City Hall Walter of homes . . . . . . . . . . . . . . . . . Hays Elem. Houses Sold . . . . . . . . . . . . . . . . . . . . . . Palo Alto School Medical Arb Hoover Clinic Median Sale Price. . . . . . . . . . . . . . . . . . ore tum Jordan Pavilion . . High ............. BowlingAverage Sale Price . . Jr. Rd Hospital Green School Castilleja Park Average Price/Square Foot. . . . . . . . . . Al ma School Average Days on Market . . . . . . . . . . . LS Packard St (Priv.) Palo Alto Children's Sr. High School Hospital N E I G H BO R H OO D S C HStanford OO L S Stadium Addison Elementary Library
El
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P alm
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Jordan Middle School Palo Alto High School
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San Fra nci squ ito Cre ek
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Palo Alto Municipal Municip Cour Golf Golf Course
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’s scent
Ba
Av e
St. Patrick’s Seminary
S an
Stanford Research Institute
Hetch Hetchy
Peers Park Downtown Palo
Alto Bowden Inventory - 2015
. . . . . . . . .459 . . . . . . . . . . 12 Greer Park . . $3,012,500 . . $3,265,000 Ohlone Elem. . . . . . . $1,524 School . . . . . . . . . .22 Seale Park
Ste
rlin
g
Hoover Keys School Park
Park
Homes for Sale vs. Closed Sales
8 Court 7 House 6 5 Wallis Cameron 4 Park Park 3 2 Mayfield Escondido 1 Park Elem. 0Werry School Jan Feb Mar Apr May Jun Jul
Park
Weisshaar Park
Our Lady of the Rosary School El Carmelo Elem. School
Aug Sep Oct Nov Dec
Dr
yC
k ree
Homes for Sale Fairmeadow Closed Sales Elem. Schoo
Jane L. Stanfo Middle Schoo
Downtown hosts a mix of cutting-edge business, conventional financiers, college kids and local residents, making it a stimulating spot to visit day or night. The surrounding streets hold a mix of bungalows, apartments and condos. Residents have a short walk to countless shops, restaurants, theaters, parks and other amenities.
Downtown Palo Alto Home Sales 2015 Sale Price $10m
$8m
$6m
$5,000,000
$4m Median City Median
$2m
$1,750,000
Jan
Feb
Size Index
Mar
Apr
May
Jun
Jul
Bubble area reflects the property size index, which takes into account both the house size and lot size of each property. The highest and lowest sales for the year are highlighted.
Aug
Sep
Oct
Nov
Dec
Off-market sales are drawn from our proprietary database of private sales. See the inside front Off Market cover for more details. MLS Sale
Jan
Community Center Hetch Hetchy
Municipal Golf Course
Av e
S an
ra n cis
milton Ave H am
Addison Elem. School
Cogswell Plaza
q ui
Zoo
d
Neighborhood Perspective
ll R
Rinconada Park
Inventory increased a bit during the year with the months supply of homes steadily rising from 1.3 months in January to 1.8 months by the end of the year. The market still performed well and builders began to eye the neighborhood for some new o Rd ad e r c r a construction projects. E mb
Duveneck Elementary School
Av ale Se
an
al
Weisshaar
gC
Mayfield Escondido Park Elem. Werry School Park
Houses Sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Ohlone Median Sale Price. Elem.. . . . . . . . . . . . . . . . . . . $3,900,000 School Average Sale Price . . . . . . . . . . . . . n.al. . . . . .$4,027,471 a Average Price/Square Foot. . .rli.ng.C. . . . . . . . 101 . . . $1,584 Seale Ste Park. . . . . . . . . . . . . . . . . . . . .22 Average Days on Market lin
Cameron Park
Jordan dd Jr. High lef School ie l dR d
er
Duveneck Elementary Walter Hays Elementary Peers Jordan Middle School Park Palo Alto High School
Mi
H O M E SA L E S DATA F O R 2 015 Number of homes . . . .Greer .Park . . . . . . . . . . . . . . . . . . . . . 811
St
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Bowling Green Castilleja Park Al ma School St (Priv.) Palo Alto N E Sr. I GHigh H BO R H OO D S C H OO L S School Stanford Addison Elementary Stadium
e
Walter Hays Elem. School
lo Alto edical inic
PA Duck Pond
to C re e k
Library Art Center
Library City Hall
we
Johnson Park
St. Elizabeth Seton School (Priv.) Eleanor Pardee Park Channing Ave
Ne
Un
i ve
r si
Lincoln Ave
ty
Av
e
F
oo W
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Keys Hoover- 2015 Community Center School Park Bowden ParkHomes for Sale vs. Closed Sales
8 7 Court House 6 5 4 Wallis 3 Park 2 1 0
Our Lady of the Rosary School El Carmelo Elem. School
y Dr
ek Cre
Ramos Park Homes for Sale
Jan
Feb Mar Apr May
Jun
Jul
Fairmeadow Library Closed Sales Aug Elem. Sep School Oct Nov Dec Mitchell Park Jane L. Stanford Middle School Palo Alto
Ma
1
With its proximity to schools, services, restaurants and downtown businesses, the Community Center neighborhood attracts families, young professionals and empty nesters alike. Rinconada Park, with its large community pool, playgrounds, picnic areas and tennis courts, is just across the street from the Rinconada Library and Palo Alto Art Center. Down the road, the Lucie Stern Center houses the Children’s Library, Children’s Theatre, local community theaters, and the popular Junior Museum & Zoo.
Community Center Home Sales 2015 Sale Price $10m
$8m
$7,000,000
$6m
Median
$4m
City Median
$2m
$1,650,000
Jan
Feb
Size Index
Mar
Apr
May
Jun
Jul
Bubble area reflects the property size index, which takes into account both the house size and lot size of each property. The highest and lowest sales for the year are highlighted.
Aug
Sep
Oct
Nov
Dec
Off-market sales are drawn from our proprietary database of private sales. See the inside front Off Market cover for more details. MLS Sale
Jan
Hetch Hetchy
Green Gables
San S an
May field Slough
Ne
we
ll R
E
Neighborhood Perspective
rc a mba
d e ro
Green Gables was one of Palo Alto’s best appreciating neighborhoods in 2015, starting the year with a median l C ana price of $2,520,000 and ending at $2,777,500. ro
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Number of homes . . . . . . . . . . . . . . . . . . . . . . . . .1943
Greer Park Houses Sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44 wy
Lo Ex
Jordan Jr. High iel School dR d
uis
Median Sale Price. . . . . . . . . . . . . . . . . . . . $2,777,500
Rd
on
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eg
dd
Ohlone Elem. ve Average Sale Price . . . . . . . . . . . . . . . . . . . $2,908,945 School do A Average l Price/Square Foot. . . . . . . . . . . . . . . . $1,518 a na Ca lor g o 101on Market . . . . . . . . . . . . . . . . . . . . .22 C Seale erAverage lin Days St Park er
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Or
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Shoreline at Mo View Park
St N E I G H BO R H OO D S C H OO L S
Walter Hays Elementary Peers Park DuveneckBowden Elementary Park Jordan Middle School Palo AltoCourt High School House
Wallis Park
e
St
W av
H O M E SA L E S DATA F O R 2 015
tad
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Av
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Ba
Rinconada Park
Walter Hays Elem. School Mi
ay
Duveneck Elementary School
Library Art Center Zoo
EB
W
Hoover Keys School Park
Green Gables Inventory - 2015
Homes for Our Lady of theSale vs. Closed Sales
8 Rosary School k 7 ree Ramos El Carmelo yC r D 6 Park Elem. School 5 4 Closed Sales Fairmeadow Library 3 Elem. School 2 Mitchell Park Homes for Sale 1 Jane L. Stanford 0 MiddleApr School Jan Feb Mar May Jun Jul AugPalo Sep AltoOct Nov Dec
Prep School
Don Segundino
Herbert Hoover Elem. School
st Charle
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to C re e k
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F
St. Elizabeth Seton School (Priv.) Eleanor Pardee Park Channing Ave
q ui
PA Duck Pond
Ma
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ve
Bowling Green tilleja Park ool v.)
meron k
Municipal Golf Course
Green Gables is a collection of neighborhoods often referred to by the name of the school that serves as a common hub: Duveneck. With a mix of pre-war ranchers and post-war Eichlers, Duveneck is a place where people put down roots and stay awhile. It’s a neighborhood where young families can find a starter home and later move up on the same block.
Green Gables Home Sales 2015 Sale Price $10m
$8m
$6,188,000
$6m
$4m Median
City Median
$2m
$1,400,000 Jan
Feb
Size Index
Mar
Apr
May
Jun
Jul
Bubble area reflects the property size index, which takes into account both the house size and lot size of each property. The highest and lowest sales for the year are highlighted.
Aug
Sep
Oct
Nov
Dec
Off-market sales are drawn from our proprietary database of private sales. See the inside front Off Market cover for more details. MLS Sale
Jan
101
Professorville
ck’s ry
Addison Elem. School
Cogswell Plaza
Zoo
no
d
e Av
er
lin
al
gC
al
er
an
Lucille Nixon
Houses Sold . . . . . . . . . . . . . . . . . . . . . . . g. C. . . . . . . . 101 11 lin r Seale e Median Sale Price. . . . . . . . . . . .Park . . . . S. t . . . $2,855,000 Average Sale Price . . . . . . . . . . . . . . . . . . . $3,464,182 Average Price/Square Foot. . . . . . . . . . . . . . . . $1,570 Average Days on Market . . . . . . . . . . . . . . . . . . . . . 13 St
Re
Weisshaar Park
Professorville saw a record number of sales for this small community in 2015. Many of these homes were historic and underwent substantial renovations which modernize the interiors while respecting the look and feel of the original homes. Greer
l ey
St
Hoover Keys School Park
Bowden Park Court
House Our Lady of the Professorville Inventory - 2015Rosary School
Cameron Park Escondido Elem. Werry School Park
Duveneck Elementary School
Park Jordan Mi H O M E SA L E S DATAOhlone F O R 2 015 dd Jr. High lef School Elem. Number of homes . . . . School . . . . . . . . . . . . . . . . . . . . . . 421 ie l dR al an d
ale
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W av
N E I G H BO R H OO D S C H OO L SPeers Park
Addison Elementary Walter Hays Elementary Jordan Middle School Palo Alto High School
to C re e k
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Rinconada Park
Se
Ca
Stanford Stadium
Bowling Green Castilleja Park Al School ma St (Priv.) Palo Alto Sr. High School
PA Duck Pond
Neighborhood Perspective
Walter Hays Elem. School
Palo Alto Medical Clinic
q ui
Library Art Center
Library City Hall
we
St. Elizabeth Seton School (Priv.) Eleanor Pardee Park Channing Ave
Ne
Un
i ve
r si
Lincoln Ave
ty
Av
e
F
ra n cis
Johnson Park
El
over ilion spital
S an
mino Park
Municipal Golf Course
Mayfield Park
Homes for Sale vs. Closed Sales Wallis El Carmelo 8 Park Elem. School 7 6 5 4 3 2 1 0
y Dr
ek Cre
Ramos Park
Fairmeadow Library Elem. School Mitchell Park Jane L. Stanford Middle School Homes for Sale Closed Sales
Jan
Feb Mar Apr May
Barron Park
Jun
Jul
Aug Sep Oct Nov Dec
Don Segundino Robles Park
Palo Alto Prep Sch
Herbert Hoover Elem. School
Blocks from Palo Alto’s city center, Professorville is a highly sought-after address due to its charming, genteel feel and easy access to the bustling action of downtown. The neighborhood offers an eclectic array of turn-of-the-century architectural styles including Queen Ann, Classic Revival and Craftsman Bungalows, as well as a rich collection of historic Shingle Style homes.
Professorville Home Sales 2015 Sale Price $10m
$8m
$6,300,000
$6m
$4m Median
City Median
$2m
$2,100,000
Jan
Feb
Size Index
Mar
Apr
May
Jun
Jul
Bubble area reflects the property size index, which takes into account both the house size and lot size of each property. The highest and lowest sales for the year are highlighted.
Aug
Sep
Oct
Nov
Dec
Off-market sales are drawn from our proprietary database of private sales. See the inside front Off Market cover for more details. MLS Sale
Jan
Old Palo Alto S an
Municipal Golf Course
F
ra n cis
St. Elizabeth Seton School (Priv.) Eleanor Pardee Park
Addison Elem. School
ogswell Plaza
Duveneck Elementary School
Library Art Center Zoo
Library City Hall
Rinconada Park
a rc E mb
ad e r
Walter Hays Elem. School
wy Ex on
Or
an
al
St
H O M E SA L E S DATA F O R 2 015 Keys Hoover Houses Sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44 School Park
Bowden Park
Median Sale Price. . . . . . . . . . . . . . . . . . . . $4,154,000 Average Sale Price . . . . . . . . . . . . . . . . . . . $4,877,750 Average Price/Square Foot. . . . . . . . . . . . . . . . $1,933 Our Lady of the Average DaysSchool on Market . . . . . . . . . . . . . . . . . . . . . 18 Rosary
Court House
Wallis Cameron Park N E I G H BO R H OO ParkD S C H OO L S
El Carmelo Elem. School
Walter Hays Elementary Mayfield Escondido Park Jordan Middle School Elem. Werry School Palo AltoPark High School
Dr
Old Palo Alto Inventory -
8 7 6 5 4 3 2 1 0
yC
k ree
Ramos Park
Fairmeadow Library Elem. School Mitchell Park Jane L. Stanford 2015 Middle School
Homes for Sale vs. Closed Sales
Matadero Cree k
Lucille Nixon School
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l ey
Number of homes . . . . . . . . . . . . . . . . . . . . . . . . .1227
Peers Park
Weisshaar Park
lin
er
Land value exploded Ohlone in Old Palo Alto in 2015 as buyers fought to find Elem. lots to build on. Larger, well-located lots School l na aneighborhood sold for intense premiums. The C 101 also saw ng Seale Sterli Palo Alto’s largest salePark price ever: $30 million. er
W av
Jordan Jr. High lef School ie l dR d
eg
dd
ale
Av
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Mi
NeighborhoodParkPerspective St
l
Bowling Green Castilleja Park Al ma School St (Priv.) Palo Alto Sr. High School
o Rd
Greer
Se
Alto dical ic
Stanford Stadium
to C re e k
May field Slough
ohnson Park
q ui
PA Duck Pond
Don Segundino Robles Park
Barron Park Elem. School
Jan
Bol Park
Feb Mar Apr May
Jun
Jul
Palo Alto Prep School
Herbert Hoover Elem. School
Aug Sep Oct Nov Dec
Closed Sales Homes for Sale Greyhound Bus Station
Briones
Old Palo Alto matured as a neighborhood before tract housing and even automobiles, so architectural styles vary widely. Homes are located within walking distance of nearly everything in Palo Alto. For many established entrepreneurs, an Old Palo Alto address means you’ve made it. Residents value the unpretentious and close-knit feel.
Old Palo Alto Home Sales 2015 Sale Price
Note: Graph does not include record $30 million sale in July 2015
$10m
$8m
$6m
Median
$4m
City Median
$2m
$1,375,000 Jan
Feb
Size Index
Mar
Apr
May
Jun
Jul
Bubble area reflects the property size index, which takes into account both the house size and lot size of each property. The highest and lowest sales for the year are highlighted.
Aug
Sep
Oct
Nov
Dec
Off-market sales are drawn from our proprietary database of private sales. See the inside front Off Market cover for more details. MLS Sale
Jan
Stanford Post Office
Flood County Pk
Hetch Hetchy
101
San F B
Holbrook Palmer Pk
St. Patrick’s Seminary
82
F
ra n cis
Library Rec. Center
St. Elizabeth Seton School (Priv.) Eleanor Pardee Park
P alm
z St G alve
u Palo Via
pu s
e St
Cam
Court House
l vd
Wallis Park
Cameron Park
Ma yC
ll R Mi
Don Segundino Robles Park
Pa
Matadero Cree k
Lucille Nixon School
101
Shoreline at Mountain View Park
Shorelin
k ree
on Rd
Prep School
ge
Rd
al
Library
d
Weisshaar Park
an
Stanford University holds a first right of refusal on the Hoover Keys School majorityPark of properties on campus and has been buying more properties pre-emptively in recent years. These Our Lady of the Rosary School transactions generally happen without the home being Ramos El Carmelo Park Elem. School exposed to the market which skews the analytics for Fairmeadow Elem. School campus. We track “off-market” sales to aid our qualified Mitchell Park Jane L. Stanford Middle School clients in assessing market dynamicsPaloand Alto relative values. Dr
Mayfield Escondido Park Elem. Werry School Park
Dr
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Ste
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Neighborhood Perspective Seale Park
Dr
Lagunita Lake
Ohlone Elem. School
an
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St
W av
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Se rr a B
Stanford Stadium
Bowling Green Castilleja Park School (Priv.) St Palo Alto Sr. High School
Al
tad
Greer Park Jordan Jr. High School
St
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ipe
Ca
Serr a
Stanford University Golf Course
J un
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Dr
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Palo Alto Medical Clinic
Hoover Pavilion Hospital
Ca
tum
Av
ito s qu S a n Fr anc i
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El
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Stanford University Hospital
Rinconada Zoo Park Walter Hays Elem. School
Library
LS Packard Children's Hospital
d
Library Art Center
City Hall
Arb
Stanford Children’s Convalescent Hospital
Addison Elem. School
Cogswell Plaza
to C re e k
Duveneck Elementary School
ale
Cr ee k
Johnson Park
El Camino Park
q ui
PA Duck Pond
May field Slough
Burgess Park
Se
PO
R ill
Municipal Golf Course
S an
Stanford Research Institute
Herbert Hoover Elem. School
H O M E SA L E S DATA F O R 2 015
Barron Park Elem. School
Number of homes . . . . . . . . . . . . . . . . . . . . . . . . . .750 Houses Sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23 Bol Park Median Sale Price. . . . . . . . . . . . . . . . . . . . $2,587,000 Monta Briones Loma Juana Park Elem. School Average Sale Price . . . . . . . . . . . . . . . . . . . $2,546,422 Briones School Terman Middle Henry M. Gunn Average Price/Square Foot. 82 . . . . . . . . . . . . . . . . .$959 School High School Average Days on Market . . . . . . . . . . . . . . . . . . . Rengstorff . . 14
os C
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N E I G H BO R H OO D S C H OO L S
Dr yC reek
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Escondido Elementary 280 Nixon Elementary Terman Middle School Gunn High School Palo Alto High School
Homes for Sale vs. Closed Sales
City Hall
Library
Homes for Sale Aug Sep Oct Nov Dec Closed Sales
Jun
Jul
Ha l e
Feb Mar Apr May
Cre ek
k
i
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Jan
City Hall
r ee
Pu r is
Post Office Ad obe C
Cre
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Palo Alto Hills Golf & Country Club
8 7 6 5 4 3 2 1 0
ma
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ero ad str
Ara
Matad
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Fe
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Arastradero Open Space Preserve
Park
Stanford Inventory - 2015
Felt Lake
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Perm an
Veterans Hospital
ente Cree k
Greyhound Bus Station
a n e nte Perm
The Stanford neighborhood is Stanford-owned land that is leased to provide housing for qualified faculty. A series of picturesque neighborhoods comprising 750 single family homes and approximately 200 condominiums that wrap the campus, the housing stock varies from turn-of-the-century homes to midcentury and ranch styles built in the 40’s and 50’s and 60’s.
Stanford Home Sales 2015 Sale Price $10m
$8m
$6m
$3,400,000 $4m
City Median
Median
$2m
$1,400,000 Jan
Feb
Size Index
Mar
Apr
May
Jun
Jul
Bubble area reflects the property size index, which takes into account both the house size and lot size of each property. The highest and lowest sales for the year are highlighted.
Aug
Sep
MLS Sale Off Market Stanford Purchase
Oct
Nov
Dec
Off-market sales are drawn from our proprietary database of private sales. See the inside front cover for more details.
Jan
Patrick’s minary S an
College
F
ra n cis
Addison Elem. School
Cogswell Plaza
Zoo
Library
Peers Park
er
May fie
Seale Park l ey
The College neighborhoods held their place as the middle ground Palo Alto price points. Going north Ourof Lady of the Rosary School in Palo Alto gets more expensive and going south less. ek Ramos Cre El Carmelo y r Like many Palo Alto neighborhoods the College D Park area Elem. School also had a big uptick in renovations and new building.
Wallis Park
ge
Mi
ll R
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Fairmeadow Library Elem. School H O M E SA L E S DATA F O R 2 015Mitchell Park Number of homes . . . . Jane . . . .L.. Stanford ................ Middle School
Matadero Cree k
Pa
Lucille Nixon School
101
Neighborhood Perspective
Mayfield Escondido Park Elem. Werry School Park
Weisshaar Park
al
Hoover Keys School Park
Court House
Cameron Park
rl
an
St
Bowden Park
Dr
Ste
C i ng
al
W av
Ohlone Elem. School
an
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Jordan Jr. High School
Bowling Green Castilleja Park Al School ma St (Priv.) Palo Alto Sr. High School
gC
G a l ve
Greer Park
lin
us
Rinconada Park
er
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Duveneck Elementary School
St
Ca
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Walter Hays Elem. School
Palo Alto Medical Clinic
Stanford Stadium
PA Duck Pond
Library Art Center
City Hall
Hoover Pavilion Hospital
q ui
St. Elizabeth Seton School (Priv.) Eleanor Pardee Park
Johnson Park
l Camino Park
Municipal Golf Course
N E I G H BO R H OO D S C H OO L S
Escondido Elementary Walter Hays Elementary Jordan Middle School Palo Alto High School
.958 Palo Alto Houses Sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25 Prep School Median Sale Price. . . . . . . . . . . . . . . . . . . Herbert . $2,600,000 Hoover Don. Segundino School Average Sale Price . . . . . . . . . . . . . . . . . Elem. . .$2,747,972 Robles Park Barron Park Average Price/Square Foot. . . . . . . . . . . . . . . . $1,577 Elem. School Average Days on Market . . . . . . . . . . . . . . . . . . . . . 14
Bol Park
Greyhound Bus Station
Briones College Inventory - 2015 Park Juana
Hospital
School
Henry M. Gunn High School
Terman Middle School
82
Dr yC reek
8 7 6 5 4 3 2 1 0
Veterans for Sale vs. Closed Sales Homes Briones
Jan
Feb Mar Apr May
Closed Sales Homes for Sale Jun
Jul
Aug Sep Oct Nov Dec
The College neighborhood offers a convenient location blocks from both California Avenue shopping and Stanford University. Traffic circles and street blocks give the neighborhood the feel of a giant cul-de-sac. Peers Park serves as the neighborhood’s playground and gathering place. Architectural styles are a mix of a few turn-of the century homes, 1930’s bungalows and recently built homes. The College area includes the neighborhoods of Southgate, Evergreen Park, College Terrace, and Mayfield. Each of these neighborhoods has its own unique character.
College Home Sales 2015 Sale Price $10m
$8m
$6m
$4,600,000
$4m
City Median
Median
$2m
$1,310,000 Jan
Feb
Size Index
Mar
Apr
May
Jun
Jul
Bubble area reflects the property size index, which takes into account both the house size and lot size of each property. The highest and lowest sales for the year are highlighted.
Aug
Sep
Oct
Nov
Dec
Off-market sales are drawn from our proprietary database of private sales. See the inside front Off Market cover for more details. MLS Sale
Jan
Office
Hetch Hetchy
101
Palo Alto Hills
San Francisco Bay
Holbrook Palmer Pk
St. Patrick’s Seminary
St. Elizabeth Seton School (Priv.) Eleanor Pardee Park
Addison Elem. School
Cogswell Plaza
Library Art Center Zoo
Library City Hall
Hoover Pavilion Hospital
Walter Hays Elem. School
Palo Alto Medical Clinic
Jordan Jr. High School
Bowling Green Castilleja Park School (Priv.)
El Carmelo Elem. School
ma
yC
lR Mil
Matadero Cree k
Pa
Don Segundino Robles Park
Barron Park Elem. School
Old
Ex
Pag
e
ente Cree k
Terman Middle School
Henry M. Gunn High School
wy
Rengstorff Park
d
Aras
Felt Lake
trad
ero
Rd
Library
k ree
der Ar a
str a
m a Rd
Post Office Ad obe
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Number of homes . . . . . . . . . . . . . . . .82. . . . . . . . . .266 Houses Sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Median Sale Price. . . . . . . . . . . . . . . . . . . . $3,500,000 Average Sale Price . . . . . . . . . . . . . . . . . . . $3,520,000 Average Price/Square Foot. . . . . . . . . . . . . . . . $1,530 Average Days on Market . . . . . . . . . . . . . . . . . . . . . . 8 City Hall Library
Cre ek
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Ha l e
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Chapin
d
Rd
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Ro b
N E I G H BO R H OO D S C H OO L S
Rd
Creek
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a n e n te Perm
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Barron Park Elementary Nixon Elementary Terman Middle School Gunn High School
C
r ee
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Rd
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W Fremont
ma
Ara
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City Hall
Pu r is Matad
Arastradero Open Space Preserve
H O M E SA L E S DATA F O R 2 015
ssi
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Monta Loma Elem. School
Perm an
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280
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Greyhound Bus Station
Dr yC reek
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Palo Alto Prep School
Herbert Hoover Elem. School
With its larger lots, Palo Alto Hills joins Crescent Park, Old Palo Alto and Community Center as the 82 neighborhoods with a median price of $3,500,000 or above. Though it’s the largest geographical area in Palo Alto, it has the fewest number of homes, with only five selling in 2015.
Veterans Hospital
Fo
on Rd
Neighborhood Perspective
Bol Park
lR Mil
Ramos Park
Fairmeadow Library Elem. School Mitchell Park Jane L. Stanford Middle School
St
ge
o Rd
k ree
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Weisshaar Park
Al
Dr
st Charle
Mayfield Escondido Park Elem. Werry School Park
Dr
101 al
pus
al
an
Cam
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Shoreline Golf Course
Our Lady of the Rosary School
Wallis Park
Cameron Park
Lagunita Lake
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Hoover Keys School Park
Bowden Park Court House
l vd
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Se rr a B
Ste
Shoreline at Mountain View Park
Peers Park
ro
gh
lou
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ma
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Ohlone Elem. School Seale Park
Stanford University Golf Course
ipe
l C ana
lin
Stanford Stadium
Stanford University Hospital
Palo Alto Sr. High School
ero
W
er
LS Packard Children's Hospital
tad
Greer Park
St
Stanford Children’s Convalescent Hospital
Rinconada Park
Mtn V
El Camino Park
Duveneck Elementary School
Ma
San Fra nci squ ito Cre ek
Johnson Park
PA Duck Pond
to C re e k
May field Slough
Burgess Park
q ui
gh
F
ra n cis
Library Rec. Center
PO
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Municipal Golf Course
S an
Stanford Research Institute
82
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Flood County Pk
El Camino Hospital
Boronda Lake
e Cr ee k
ree eC Ado b
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Fork
Rancho San Antonio Open Space
8 7 6 5 4 3 2 1 0
Homes for Sale vs. Closed Sales
k ree ns C Steve
k
Ad o b
Adobe Creek
be Ado
Lost Trancos Open Space
85
Palo Alto Hills Inventory - 2015
Foothills Park
Homes for Sale 280
Jan
Feb Mar Apr May
Jun
Jul Rancho San Antonio County Park
Aug Sep Oct Nov Dec
Closed Sales
In addition to the extensive Palo Alto Hills region, this MLS (multiple listing service) area includes the neighborhoods of Greater Miranda and Esther Clark Park. All these neighborhoods are known for their rural feel and acre lots. The neighborhoods have more of a connection to the adjoining city of Los Altos Hills than Palo Alto, but all enjoy Palo Alto schools and services.
Palo Alto Hills Home Sales 2015 Sale Price $10m
$8m
$6m
$4,500,000
$4m
Median City Median
$3,000,000
$2m
Jan
Feb
Size Index
Mar
Apr
May
$3,000,000
Jun
Jul
Bubble area reflects the property size index, which takes into account both the house size and lot size of each property. The highest and lowest sales for the year are highlighted.
Aug
Sep
Oct
Nov
Dec
Off-market sales are drawn from our proprietary database of private sales. See the inside front Off Market cover for more details. MLS Sale
Jan
South Palo Alto Hetch Hetchy
S an
Municipal Golf Course
May field Slough
Rd
Ohlone Elem. ve School do A l a na Ca lor Co Seale erling St Park
on Rd
to
le s ar Ch
W M i dd
Bol Park
Greyhound Bus Station
ente Cree k
onio
Dr yC reek
N E I G H BO R H OO D S C H OO L S
Palo Verde Elementary Fairmeadow Elementary Juana Briones Elementary JLS Middle School Terman Middle School Gunn High School Palo Alto High School
Number of homes . . . . . . . . . . . . . . . . . . . . . . . . .3947 Houses Sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .95 Median Sale Price. . . . . . . . . . . . . . . . . . . . $2,300,000 Average Sale Price . . . . . . . . . . . . . . . . . . . $2,363,779 Average Price/Square Foot. . . . . . . . . . . . . . . . $1,391 Average Days on Market . . . . . . . . . . . . . . . . . . . . . 15
Perm an
82
A nt
Middle School
S an
Henry M. Gunn High School
Monta Loma Elem. School
Rd
Briones Park Briones School
Veterans Hospital
Rengstorff Park
Sunnyvale Municipal Golf Course
Library
South Palo Alto Inventory - 2015
City Hall Library
Homes for Sale vs. Closed Sales
82
Closed Sales
r ee
k
ma
Cre
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Cre ek
Post Office Ad obe C
Jan
a n e nte Perm
16 14 12 10 8 6 4 2 0
Ha l e
City Hall
i
d Way
W
Matadero Cree k
nR
Old Middlefiel
Ave
Barron Park Elem. School
H O M E SA L E S DATA F O R 2 015
N Rengstor ff
Don Segundino Robles Park
st Charle
St
y
d
Dr
G
Av e
ek Cre
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ma
South Palo Alto continued to be the bellwether for ground zero Palo Alto values. For the first time, many homes floated over the Palo Alto median sales price as upgraded and new homes found their way to market.
ar
Al
y
Neighborhood Perspective
Shoreline at Mountain View Park
e
Ramos Dr Park ow e ad EM Fairmeadow Library Rd Elem. School s t on ar le Mitchell Park Jane L. Stanford Herbert Hoover Middle School Elem. School
El Carmelo Elem. School
Mayfield Park
Av
Shoreline Golf Course
Our Lady of the Rosary School
Wallis Park
de
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Hoover Keys School Park
r Ve ma
101 an
St
Court House
Pu r is
gh Mt
uis
W
Fabian Way
wy
Lo
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Jordan Jr. High lef School ie l dR d
gh
lou
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ma
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Greer Park
Peers
Cameron Park
l C ana
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lin
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St
Bowling Green Castilleja Park School (Priv.)
E mb
on
Library Art Center
Rinconada Zoo Park Walter Hays Elem. School
eg
ddison lem. hool
Duveneck Elementary School
lou
St. Elizabeth Seton School (Priv.) Eleanor Pardee Park
to C re e k
iew S
q ui
PA Duck Pond
San Antonio Ave
F
ra n cis
San Francisco Bay
Feb Mar Apr May
Homes for Sale Jun
Jul
Aug Sep Oct Nov Dec
Library
Creek
CH
El Camino Hospital
The South Palo Alto area of the MLS is a catch-all for the various neighborhoods built east of El Camino and South of Oregon Expressway (with the exception of Midtown) in the early to mid 1950’s. A mix of early 50’s ranchers gave way to mid-century Eichlers as the last part of Palo Alto was developed. Each neighborhood has its own unique flavor and home styles.
South Palo Alto Home Sales 2015 Sale Price $10m
$8m
$6m
$4,350,000
$4m
City Median Median
$2m
$1,350,000 Jan
Feb
Size Index
Mar
Apr
May
Jun
Jul
Bubble area reflects the property size index, which takes into account both the house size and lot size of each property. The highest and lowest sales for the year are highlighted.
Aug
Sep
Oct
Nov
Dec
Off-market sales are drawn from our proprietary database of private sales. See the inside front Off Market cover for more details. MLS Sale
Jan
Midtown S an
Municipal Golf Course
May field Slough
Walter Hays Elem. School
Greer Park
Rd
Bowden Park Court House
L
Our Lady of the Rosary School
Wallis Park
El Carmelo Elem. School
ma
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k ree
ea EM Fairmeadow Elem. School
St
w do
to
El Carmelo Elementary Fairmeadow Elementary Bol Park Elementary Palo Verde Briones JLS Middle School Juana Park Veterans Gunn High School Briones Hospital School Terman Palo Alto High School Dr yC reek
Henry M. Gunn High School
Middle School
Dr
Ramos Park
Midtown in 2015 became the darling of developers and Course GolfThis Shoreline end-users looking to build new homes in Palo Alto. in turn, created confidence in buyers in the lower part of the price point who bought in and began remodeling many of the older homes. H O M E SA L E S DATA F O R 2 015
Number of homes . . . . . . . . . . . . . . . . . .on.Rd. . . . . . 2126 Houses Sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 Palo Alto Sale Price. . . . . . . . . . . . . . . . . . . . $2,555,000 Median Prep School Average Sale Price . . . . . . . . . . . . . . . . . . . $2,824,580 Herbert Hoover Elem. School Average Price/Square Foot. . . . . . . . . . . . . . . . $1,571 Average Days on Market . . . . . . . . . . . . . . . . . . . . . 11
Mitchell Park
Ch
N E I G H BO R H OO D S C H OO L S
ar
le s
Barron Park Elem. School
Neighborhood Perspective
W
Matadero Cree k
nR
Don Segundino Robles Park
d
Jane L. Stanford Middle School
Shoreline at Mountain View Park
ve
st Charle
Al
Dr
r Ve
al
Hoover Keys School Park
a om
A de
an
St
gC
l ey
101
lin
er
Ohlone Elem. ve School do A l a na Ca lor g o n C Seale erli St Park
Greyhound Bus Station
Midtown Inventory - 2015
8 7 6 5 4 3 2 1 0
Homes for Sale vs. Closed
Monta Loma Sales Elem. School ente Cree k
uis
on
Ex
wy
Lo
Or
Jordan Jr. High lef School ie l dR d
er
Peers Park
dd
eg
ale
Av
e
Mi
St
W av
anal
Mt nV
Rinconada Park
C ero tad
82
Perm an
Zoo
Ma
Library Art Center
Se
Bowling Green Park
Duveneck Elementary School
ugh
St. Elizabeth Seton School (Priv.) Eleanor Pardee Park
to C re e k
Slo
q ui
PA Duck Pond
iew
F
ra n cis
San Franc Bay
Rengstorff Park
Jan
Feb Mar Apr May
Jun
Jul
Homes for Sale Closed Sales
Aug Sep Oct Nov Dec Library
Midtown is a popular neighborhood located, as its name suggests, in the middle of Palo Alto. This central location makes it one of the city’s most convenient neighborhoods. That fact, coupled with its late 40’s and early 50’s bungalows and ranch homes, makes it a popular pick for those seeking a know-your-neighbor location.
Midtown Home Sales 2015 Sale Price $10m
$8m
$5,005,000
$6m
$4m
City Median
Median
$2m
$1,950,000
Jan
Feb
Size Index
Mar
Apr
May
Jun
Jul
Bubble area reflects the property size index, which takes into account both the house size and lot size of each property. The highest and lowest sales for the year are highlighted.
Aug
Sep
Oct
Nov
Dec
Off-market sales are drawn from our proprietary database of private sales. See the inside front Off Market cover for more details. MLS Sale
Jan
St. Elizabeth Seton School (Priv.) Eleanor Pardee Park
Ventura Rinconada Park
Walter Hays Elem. School
ero
l C ana
Greer Park Jordan Jr. High School
Ohlone Elem. School
El Carmelo Elem. School
eld
Ca
mi
no
Re
St
nR
to le s ar Ch W
Matadero Cree k
Barron Park Elem. School
Bol N E I G H BO R HPark OO D S C H OO L S
Dr yC reek
Henry M. Gunn High School
on Rd
Jane L. Stanford Middle School Alto F O R 2 015 H O M E SA L E S Palo DATA Prep School Number of homes . . . . . . . . . . . . . . . . . . . . . . . . . . 371 Don Segundino Herbert Hoover Robles Park Houses Sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Elem. School
al
El Barron Park Elementary Terman Middle School Veterans Hospital Gunn High School
Neighborhood Perspective Ramos
Median Sale Price. . . . . . . . . . . . . . . . . . . . $1,936,500 Average Sale Price . . . . . . . . . . . . . . . . . . . $1,954,209 Average Price/Square Foot. . . . . . . . . . . . . . . . $1,356 Average Days on Market . . . . . . . . . . . . . . . . . . . . . 17 Greyhound Bus Station
Monta Briones Loma Juana Park Elem. School Briones School Terman Ventura Inventory - 2015 Middle 82 SchoolHomes for Sale vs. Closed Sales 8 7 Rengstorff 6 Park 5 4 3 2 1 Closed Sales 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Homes for Sale
ente Cree k
El
ma
Shoreline at Moun View Park
ve
Ventura sawPark its price point jump dramatically with the sale of two larger homes built in the past 5 years, but Librarya median price still below $2 million, it remains the Fairmeadow with Elem. School most affordable entry point to Palo Alto real estate. Mitchell Park y Dr
d
W
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A de
st Charle
Al
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Wallis Park
an
Our Lady of the Rosary School
101
gC
Court House
al
lin
Bowden Park
L
a om
rl
an
er
Hoover Keys School Park
Ste
C i ng
St
Seale Park
Peers Park
tad
Perm an
Zoo
Ma
Library Art Center
Bowling Green leja Park ol
eron
May field Slough
Duveneck Elementary School
The Ventura neighborhood’s proximity to El Camino and California Avenue shopping make it a convenient place to get started in Palo Alto. The smaller lots have seen less new development than other parts of the city, but that’s changing as recent new construction finds its way among the traditional turn-of-the-century and 1940’s bungalows.
Ventura Home Sales 2015 Sale Price $10m
$8m
$6m
$4m
$2,776,000 City Median Median
$2m
$1,100,000 Jan
Feb
Size Index
Mar
Apr
May
Jun
Jul
Bubble area reflects the property size index, which takes into account both the house size and lot size of each property. The highest and lowest sales for the year are highlighted.
Aug
Sep
Oct
Nov
Dec
Off-market sales are drawn from our proprietary database of private sales. See the inside front Off Market cover for more details. MLS Sale
Jan
Greer Park
School Bowling Green Park
Jordan Jr. High School
101
gC
rl
al
lin
an
Ste
an
er
al
Seale Park
C i ng
St
Barron Park
Ohlone Elem. School
Shoreli View P Peers Park
Hoover Keys School Park
Bowden Park Court House
Our Lady of the Rosary School
Wallis Park
El Carmelo Elem. School
Al
ma
y Dr
ek Cre
Ramos Park
Fairmeadow Library Elem. School Mitchell Park Jane L. Stanford Middle School
St
Palo Alto Prep School
to
Ch
ar
le s
Barron Park Elem. School
W
Matadero Cree k
nR
Don Segundino Robles Park
d
Neighborhood Perspective Herbert Hoover
Bol Park
Veterans Hospital
Fo
ot h
ill
Ex
w
Henry M. Gunn High School
Like the rest of School Palo Alto, 2015 was a topsy-turvy year Elem. for Barron Park, with the average sale price running up in the spring and then dropping down in the fall to finish up just about where it started. Inventory remained at a relatively low level throughout the year. H O M E SA L E S DATA F O R 2Greyhound 015 Bus Station
Briones Juana Park Briones School Terman Middle School
Dr yC reek
y R H OO D S C H OO L S N E I G H BO
Number of homes . . . . . . . . . . . . . . . . . . . . . . . . . 1199 Monta Houses Sold . . . . . . . . . . . . . . . . . . . . . . . . . .Loma . . . . . .28 Elem. School Median Sale Price. . . . . . . . . . . . . . . . . . . . $2,552,500 Average Sale Price . . . . . . . . . . . . . . . . . . . $2,799,679 Average 82 Price/Square Foot. . . . . . . . . . . . . . . . $1,685 Average Days on Market . . . . . . . . . . . . . . . . . . . . . 17
Barron Park Elementary Juana Briones Elementary Terman Middle School Gunn High School
Rengstorff Park
Barron Park Inventory - 2015
8 7 6 5 4 3 2 1 0
Homes for Sale vs. Closed Sales
Jan
Feb Mar Apr May
Jun
Jul
Aug Sep Oct Nov Dec
Closed Sales Homes for Sale
Barron Park, the southwest section of Palo Alto, has always had a rustic, pastoral feel and still offers a bit of a country life in the midst of urbanity. Nothing points to this character more than the two donkeys that live in Bol Park and are cared for by local volunteers. One of the donkeys, Pericles, served as the model for Shrek’s famed sidekick in the Dreamworks movie Shrek.
Barron Park Home Sales 2015 Sale Price $10m
$7,650,000 $8m
$6m
$4m
City Median
Median
$2m
$1,650,000
Jan
Feb
Size Index
Mar
Apr
May
Jun
Jul
Bubble area reflects the property size index, which takes into account both the house size and lot size of each property. The highest and lowest sales for the year are highlighted.
Aug
Sep
Oct
Nov
Dec
Off-market sales are drawn from our proprietary database of private sales. See the inside front Off Market cover for more details. MLS Sale
Jan
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Green Acres
Shoreline at Mountain View Park
Hoover Keys School Park
Bowden Park Court House
Shoreline
Our Lady of the Rosary School
Wallis Park
El Carmelo Elem. School
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Ramos Park
Fairmeadow Library Elem. School Mitchell Park Jane L. Stanford Middle School
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Neighborhood Perspective
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82
Rengstorff H O M E SA L E S DATA F O RPark 2 015
Number of homes . . . . . . . . . . . . . . . . . . . . . . . . . .448 Houses Sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Median Sale Price. . . . . . . . . . . . . . . . . . . . $2,651,000 Average Sale Price . . . . . . . . . . . . . . . . . . . $2,657,500 Average Price/Square Foot. . . . . . . . . . . . . . . . $1,450 Average Days on Market . . . . . . . . . . . . . . . . . . . . . . 9
N E I G H BO R H OO D S C H OO L S
Juana Briones Elementary Terman Middle School Gunn High School
Less than 1% of the homes in Green Acres were sold Greyhound Bus Station in 2015, the lowest of any Palo Alto neighborhood. Monta And they sold quickly, with an average of only 9 days Loma Elem. School on the market. After starting the year below the average median home sale price for Palo Alto, Green Acres finished at a median of $2,651,000 compared to $2,500,000 for all of Palo Alto. Perm an
wy
Henry M. Gunn High School Dr yC reek
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Briones Juana Park Briones School Terman Middle School
S an
Veterans Hospital
ill
Palo Alto Prep School
W
Matadero Cree k
Barron Park Elem. School
Bol Park
Green Acres Inventory - 2015
Homes for Sale vs. Closed Sales
City Hall Library
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Jan
Feb Mar Apr May
Jun
Jul
Closed Sales Aug Sep Oct Nov Dec Homes for Sale Cre ek
City Hall
8 7 6 5 4 Post 3 Office 2 Ad 1 obe C0
Ha l e
ot h
on Rd
Herbert Hoover Elem. School
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Don Segundino Robles Park
st Charle
Fo
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Ca
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Seale Park
g rlin
As one of Palo Alto’s smaller neighborhoods, Green Acres residents enjoy a feeling of connection and familiarity with their neighbors. Once home to apricot orchards, Green Acres was developed in two stages in the 1950’s. The MLS area also contains the adjoining neighborhood of Palo Alto Orchards, another 1950’s development. All homes in these neighborhoods are within walking distance of the elementary, middle and high schools, as well as Juana Briones Park.
Green Acres Home Sales 2015 Sale Price $10m
$8m
$6m
$4m
$2,800,000 Median
City Median
$2m
Jan
$2,528,000
Feb
Size Index
Mar
Apr
May
Jun
Jul
Bubble area reflects the property size index, which takes into account both the house size and lot size of each property. The highest and lowest sales for the year are highlighted.
Aug
Sep
Oct
Nov
Dec
Off-market sales are drawn from our proprietary database of private sales. See the inside front Off Market cover for more details. MLS Sale
Jan
REACHING THE RIGHT BUYERS Palo Alto Buyers are Unique
Peninsula home buyers belong to the top 3% income class in the country. The Sotheby’s International Realty marketing approach is designed to reach these buyers where they go for information, purchasing and entertainment. High value real estate demands a high income buyer. Most Palo Alto homes sell in this range...
$1.8m
$5.0m which means buyers’ incomes should be in this range...
$250K
$600K
putting them in the top 3% of households in the U.S. Where are these high income buyers?
We reach high net worth, high income buyers where they are.
ONLINE
AROUND THE WORLD
READING SOPHISTICATED PUBLICATIONS
Web Exposure Like No Other
Annually, sothebysrealty.com receives millions of visitors from all over the world. A N N UA L E X P O S U R E O N S I R .CO M
M O R E W E B S ITE V I S IT S
10 million
sothebysrealty.com receives more than four times the visits of other luxury real estate websites
WEBSITE VISITS
sothebysrealty.com
75 million PAG E V I E W S
25 million
P RO P E RT Y D E TA I L PAG E S V I E W E D
5,802,390
luxuryrealestate.com
1,332,818
christiesrealestate.com
1,194,185 803,877
luxuryportfolio.com 0M
1M
2M
3M
4M
5M
6M
Data from SimilarWeb for the 6 month period from Sept 2015 to Feb 2016
A Global Audience Group traffic share by country (top 10 non-U.S.)
More than half of visitors come from outside the United States. S H A R E O F G LO BA L TR A F F I C for top 10 countries outside of U.S.
A Sophisticated Readership
Sotheby's International Realty properties aresothebysrealty.com in the publications that high5,802,390 net worth buyers read most. luxuryrealestate.com
1,332,818
Median Household 1,194,185
christiesrealestate.com
sothebysrealty.com luxuryrealestate.com christiesrealestate.com luxuryportfolio.com
Publication
luxuryportfolio.com
803,877
$0M $1M New York Times
Canada UK
$74,083
$2M $3M $4M $5M $6M
Wall Street Journal
$160,518
Architectural Digest
$102,500
Dwell
France
Income (US)
$82,250
Italy
Bloomberg
India
Hearst
Spain
Financial Times
$251,706
SCMP
$200,000
PropGOLuxury
$235,000
Germany Australia Brazil Poland 0%
20%
40%
60%
80%
Data from SimilarWeb for the 6 month period from Sept 2015 to Feb 2016
$271,528 $95,747
About Us Dreyfus Sotheby’s International Realty is a local, full service, real estate brokerage specializing in sales and purchases of homes in the midPeninsula/Silicon Valley area. We achieve exceptional sales results for our seller clients using a proprietary Premium Pricing Process fueled by deep local market knowledge.
Dreyfus was selected by Sotheby’s International Realty to manage their business in the finer Peninsula markets of the San Francisco Bay area and their important luxury real estate clientele. The global platform of Sotheby’s International Realty, combined with Dreyfus’ local expertise and understanding of the region, affords our clients the best of local and international Our inspiration comes from deep involvement representation and exposure. Within the and care for the communities we serve. We Sotheby’s International Realty network, over live and work here. We have insider knowledge 150 independent luxury brokerages work of homes available both publicly and privately, together managing more than $100 billion (usd) and advantageous real-time information on in annual real estate sales - by far the most local pricing. We see ourselves as community important and successful residential brokerage caretakers and do all we can to help our association in the world. friends and neighbors make living here a rich experience.
Dreyfus Sotheby’s International Realty 728 Emerson Street Palo Alto, California 94301
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