Palo Alto Housing Market Report – June 2026
Here's a look at how the Palo Alto, CA real estate market performed in June 2026, based on actual sold data from the MLS.
Market Snapshot
- Homes Sold: 64
- Median Sale Price: $3,180,000
- Average Sale Price: $4,031,556
- Average Price Per Sq Ft: $1,918
- Average Days on Market: 43
- Sale-to-List Price Ratio: 103.8%
Month-Over-Month Trends
Compared to May, the median sale price in Palo Alto moved 9.3% down (from $3,505,000 to $3,180,000). The number of homes sold was 17.9% down compared to the prior month (78 vs. 64). Average days on market shifted 4.9% up (41 days to 43 days).
Year-Over-Year Comparison
Compared to June 2025, the median sale price is 2.6% down (from $3,266,250 to $3,180,000). Sales volume is 1.6% up year-over-year.
What This Means
Palo Alto's luxury market is showing signs of cooling in June, with both median prices and sales volume declining month-over-month. The median price dropped 9.3% to $3.18 million, while transaction count fell from 78 to 64 homes—a significant pullback that suggests buyer hesitation despite continued strong pricing power. Homes are still selling above asking price at 103.8%, but the uptick in days on market from 41 to 43 indicates properties are moving slightly slower. The year-over-year median price decline of 2.6% confirms this isn't just seasonal softness; the market has genuinely lost momentum compared to mid-2025.
The gap between median and average prices—roughly $850,000—reflects this market's inherent volatility in the luxury segment, where a few high-value sales can skew averages significantly. Notably, buyers remain disciplined. With 99 active listings carrying a median ask of $2.65 million and average 46 days on market, there's actual inventory available for the first time in years. This inventory is primarily single-family homes, which make up 63% of active listings. For a market historically defined by scarcity and bidding wars, the shift toward a more balanced dynamic suggests a natural correction rather than crisis. Expect continued moderation through summer.
Palo Alto Sales by Zip Code
| Zip Code | Homes Sold | Median Price | Avg $/SqFt | Avg DOM |
|---|---|---|---|---|
| 94301 | 27 | $3,850,000 | $1,944 | 44 |
| 94306 | 24 | $3,004,000 | $1,860 | 43 |
| 94303 | 11 | $3,270,000 | $1,977 | 41 |
| 94304 | 2 | $2,490,000 | $1,894 | N/A |
Sales by Property Type
| Property Type | Homes Sold | Median Price | Avg $/SqFt |
|---|---|---|---|
| SINGLE_FAMILY | 40 | $3,800,000 | $2,206 |
| CONDOS | 13 | $1,525,000 | $1,278 |
| TOWNHOMES | 3 | $1,809,000 | $1,205 |
| LAND | 3 | $2,100,000 | N/A |
| MULTI_FAMILY | 2 | $3,683,750 | $1,402 |
| CONDO | 2 | $2,490,000 | $1,894 |
| OTHER | 1 | $2,090,000 | N/A |
Sales by Price Range
| Price Range | Homes Sold |
|---|---|
| $750K+ | 64 |
Current Active Listings
As of this report, there are 99 active listings in Palo Alto with a median asking price of $2,650,000 and an average of 46 days on market.
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