Is East Palo Alto, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, East Palo Alto has remained a Seller's Market.
Housing Prices in East Palo Alto, CA
How much do homes in East Palo Alto, CA cost?
Median Sold Price
$995,000
$793/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in East Palo Alto was $995,000 in May 2024, up 5% from last year, and the median price per square foot was $793.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $455K | $635K | +39.6% |
2 Bedrooms | $857.5K | $850K | -0.9% |
3 Bedrooms | $875K | $995K | +13.7% |
4 Bedrooms | $1.1M | $1.3M | +22.5% |
5+ Bedrooms | $1.2M | $1.0M | -11.5% |
Summary: East Palo Alto housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 39.6%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 22.5%, and 5+ bedroom homes decreased by 11.5%.
Median Sold Price Compared To Nearby Cities
East Palo Alto | $947.8K | $995K | +5.0% |
Menlo Park | $2.6M | $2.5M | -2.6% |
Palo Alto | $3.0M | $3.0M | -2.6% |
Housing Supply in East Palo Alto, CA
How many homes are available in East Palo Alto, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 | 38 | +18.8% |
Summary: The East Palo Alto real estate market had 38 homes for sale in May 2024, a 18.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 9 | 9 | 0.0% |
3 Bedrooms | 9 | 11 | +22.2% |
4 Bedrooms | 8 | 9 | +12.5% |
5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The East Palo Alto housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
8 | 11 | +37.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in East Palo Alto in May 2024, up by 37.5% month-over-month. Of the 11 sold homes, 36% were sold under asking, 0% were sold at asking, and 64% were sold over asking.
Days on Market for East Palo Alto, CA
How long does it take to sell a home in East Palo Alto, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
24 Days | 23 Days | -5.9% |
Summary: Homes in East Palo Alto had an average of 23 days on market in May 2024, down by 5.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in East Palo Alto; 64% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.