About Palo Alto, CA Real Estate
Palo Alto, CA Real Estate & Visitor’s Guide
Palo Alto —Home to Stanford University and the epicenter of Silicon Valley. Palo Alto located in the Silicon Valley, is home to Stanford University, and many graduates have chosen to make Palo Alto, CA their home. With a population of 58,598 with many highly educated entrepreneurs and technocrats, Palo Alto offers charming traditional-styled homes in a dynamic and intellectual social environment. Because the city is partly a college town, only 57% of residents own their homes.
Palo Alto, CA Real Estate Insider
Real estate prices for Palo Alto’s most desirable areas rival those of New York City, ranging from $850 to over $1000 per square foot. However, home prices hold their value better than any other San Francisco Bay Area community. Prices rise first in Palo Alto and then surrounding communities follow its trend, making Palo Alto real estate an advantageous investment.
Notable neighborhoods in Palo Alto include Crescent Park, Downtown North, University South, Professorville and Community Center. These neighborhoods are located nearest to the downtown section, which is thriving with unique ethnic restaurants, elegant boutiques, venture capital and high technology firms. Homes within walking distance of downtown start at about $2.5 million.
Land is at a premium in Palo Alto, forcing homes to expand upwards rather than outwards. Competition is fierce for real estate, with an occasional hot property garnering 20 or more offers. However, high prices are equalized by a bounty of perks and amenities. Some Palo Alto denizens call Palo Alto’s community programs “socialism for the affluent.” Citizens can enjoy parks, recreation, classes, cultural events, and transportation via the “baby bullet” train to San Francisco at little cost or no cost.
Palo Alto, CA School Information
Another factor that drives up the price of real estate in Palo Alto is the outstanding school system. Every school in the district scores in the 900s on the California State Academic Performance Index. Students at Gunn High School and Palo Alto High School often go on to Stanford University, UCLA and UC Berkley. Palo Alto High Schools also consistently place in the top tier of student competitions in mathematics, debate, ad robotics.