Is Palo Alto, CA 94301 a buyer’s or seller’s market?

The Palo Alto housing market right now

In the three months ending August 31, 2026, 41% of homes in Palo Alto, CA 94301 sold above their list price, the typical home went under contract in 19 days and there were 1.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 50 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (41% then), homes sold about as fast and the median sale price fell 5% to $3,998,270. Overall, Palo Alto is about as competitive as it was a year ago.

Within Santa Clara County, homes here sell faster than in 56% of the county’s ZIP codes, and sell less often over asking than in 77%. On our competition score, Palo Alto ranks #89 of 1,069 CA ZIP codes with enough sales (score 87 out of 100).

Nearby, buyers who want less competition could look at San Jose 95134 (0% sold over asking) or San Jose 95113 (0% sold over asking), while San Jose 95129 (72% sold over asking) and Sunnyvale 94087 (64% sold over asking) are even more competitive.