What are home prices like in Palo Alto CA?

Palo Alto's median home price reached $3.8 million in 2025, up 5.1% from 2024 and setting a new annual record. Old Palo Alto and Crescent Park are the most expensive neighborhoods with median sales prices of $6 million. South Palo Alto and Barron Park offer the city's more accessible entry points. Homes average 104% of list price with about 59% of single-family homes selling over asking.

What neighborhoods are in Palo Alto CA?

Palo Alto has 13 defined neighborhoods. Old Palo Alto and Crescent Park are the most prestigious, each with median sales prices of $6 million. Professorville near downtown has a historic character. Midtown and Barron Park offer more accessible pricing. College Terrace borders Stanford. South Palo Alto along El Camino Real is the city's most affordable sector. Each neighborhood has a distinct character and price point.

What school district serves Palo Alto CA?

Palo Alto is served by Palo Alto Unified School District, consistently one of California's highest-rated K-12 public school systems. Palo Alto High School and Henry M. Gunn High School are both nationally recognized. PAUSD is a single unified district covering the entire city, which simplifies the school assignment process compared to neighboring cities with multiple overlapping districts.

How does Palo Alto's luxury market perform?

Palo Alto's luxury segment has strengthened significantly. In 2025, 25 homes sold above $8 million — a new record, more than double the 10-year average. Old Palo Alto accounted for six of those transactions. Crescent Park and Old Palo Alto both reached median sales prices of $6 million for the first time in 2025, reflecting continued strength at the upper tier of the market.

How does Palo Alto compare to Menlo Park and Atherton?

Palo Alto's primary advantage over Menlo Park is PAUSD — a single unified school district versus Menlo Park's multi-district complexity. Palo Alto generally commands higher median prices than Menlo Park but lower prices than Atherton, which offers larger lots and complete residential privacy. Palo Alto has more housing variety, a stronger downtown, and more inventory than either neighbor.