In the 4th quarter of 2020, the fourth most expensive home sold in Palo Alto was a Downtown Palo Alto condo.
Condo: 2 bedroom | 2.5 bath | 3,516 sf | Homer Ave | $8M+
The penthouse condo located on top of a newer(2009) 3-story building in Palo Alto simply falls into the category of a prestigious, very rarely available, type of property in a very desirable city.
In spite of recent constant murmurs in the press about condos falling out of favor, urban areas falling out of favor, and even California having a population decline, this is a record high sale in downtown Palo Alto. In the luxury market place, motivations for the unique, often won’t track market trends.
In spite of some published opinions, downtown neighborhoods in Silicon Valley are not showing any loss of desirability, at least not yet.
See more trends at Downtown Palo Alto real estate market trends.