URGENT UPDATE: The latest data shows that a condominium in Palo Alto has just sold for $1.4 million, topping the list of the most notable real estate transactions for the week of November 3, 2023. This sale occurred amidst a competitive market where the average home price soared to $4.1 million, significantly impacting local buyers and investors.
Over the past week, a total of 16 home sales have been recorded, with an average home size of 2,164 square feet featuring 3 bedrooms and 1 bathroom. The average price per square foot reached $1,886, highlighting the premium nature of Palo Alto real estate.
The following list showcases the top 10 most significant home deals, with prices ranging from $300,000 to $10,000,000:
10. $3.6 million, Detached House on Cherry Oaks Place
A single-family residence located at 4100 Cherry Oaks Place sold for $3,600,000, with the new owners taking possession in October. This property, built in 1974, spans 2,542 square feet and features 4 bedrooms and 3 bathrooms. The price per square foot was $1,416.
9. $3.6 million, Single-Family Home on Duncan Place
Finalized at 3900 Duncan Place, another single-family home sold for $3,550,000. Built in 1953, it comprises 1,795 square feet with 3 bedrooms and 3 bathrooms, resulting in a price of $1,978 per square foot.
8. $3.2 million, Single-Family Residence on Janice Way
Located at 3400 Janice Way, this property was purchased for $3,218,000. With 1,878 square feet, it offers 4 bedrooms and 2 bathrooms, valued at $1,714 per square foot.
7. $3.2 million, Single-Family Home on South Court
The property at 3300 South Court recently sold for $3,150,000. The 1,060-square-foot residence features 3 bedrooms and 2 bathrooms, marking a price of $2,972 per square foot.
6. $2.8 million, Single-Family Home on Addison Avenue
Sold for $2,800,000, the property at 500 Addison Ave. boasts a rich history, having been built in 1898. It offers 1,219 square feet with 3 bedrooms and 2 bathrooms, priced at $2,297 per square foot.
5. $2.7 million, Triplex on Waverley Street
This 2,448-square-foot triplex located at 700 Waverley Street was sold for $2,700,000, with a price of $1,103 per square foot, reflecting the high demand for multi-family properties in the area.
4. $2.4 million, Detached House on Channing Avenue
Finalized at 600 Channing Ave., this single-family home sold for $2,400,000. The residence features 1,146 square feet, with 3 bedrooms and 2 bathrooms, at a price of $2,094 per square foot.
3. $2.4 million, Condominium on Homer Avenue
The condominium at 300 Homer Ave. was sold for $2,375,000. Built in 2004, the unit spans 1,544 square feet, featuring 2 bedrooms and 2 bathrooms, with a price per square foot of $1,538.
2. $1.7 million, Condominium on High Street
Finalized for $1,700,000, this condominium located at 200 High Street offers 1,338 square feet along with 3 bedrooms and 2 bathrooms, priced at $1,271 per square foot.
1. $1.4 million, Condominium on Thain Way
Topping the list, the condominium at 4100 Thain Way sold for $1,400,000. The 1,445-square-foot unit features 2 bedrooms and 2 bathrooms, at a price of just $969 per square foot.
These transactions highlight a vibrant real estate market in Palo Alto, with buyers eager to invest in desirable properties. The dynamics of the local market suggest ongoing competition, making it crucial for potential buyers to act quickly.
As the market continues to evolve, keep an eye on upcoming sales and trends that may shape the future of Palo Alto’s real estate landscape.
