Politics & Government

Home Prices In Palo Alto Expected To Rise This Year

Real estate website forecasts prices to increase for 2013 in all but one Bay Area zip code

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Jennifer Squires, Patch StaffVerified Patch Staff Badge
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Home prices in most Palo Alto neighborhoods will rise more than 10 percent, according to a study conducted by an online real estate site.

Zillow.com expects home prices in 244 of the 245 zip codes in the Bay Area to rise in 2013. The only exception will be the 94515 zip code in Calistoga, according to a story in the San Francisco Chronicle.

The story suggests that the primary reason for the price increase is the tight inventory, a lack of homes for sale on the market.

Find out what's happening in Palo Altowith free, real-time updates from Patch.

With the increase, prices would be close to the peak prices of a few years ago.

Here is the individual zip code data for the Palo Alto area.

Find out what's happening in Palo Altowith free, real-time updates from Patch.

Zip Code Dec. 2012 median Dec. 2013 projection Increase % decrease from peak price 94303 $1,078,100 $1,208,722.89 12.1%  0 percent 94301 $1,986,100 $2,202,595.48 10.9% 0 percent 94306 $1,490,900 $1,633,451.25 9.6% 0 percent

 

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