Market Intelligence · CA / Palo Alto

Palo Alto, CA 94304 Housing Market

Homes in Palo Alto 94304 typically sell for $3,193,983, up 3.2% over the past year. The median list price is $7,999,000, and homes are taking a median of 178 days on market as of July 2026.

Updated September 2026Median value$3194K

The median home value in Palo Alto, CA 94304 is $3.19M as of September 2026, up 3.2% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 94304 range

$2.94M to $3.45M

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+3.2% over 12 months

Sep 2025$3.1M

Low $3.1MHigh $3.2M

Sep 2026$3.19M

The numbers

What is the 94304 housing market like?

As of September 2026

Typical home value

$3.19M

3.2%YoY

Median list price

$8M

Days on market

178

Homes for sale

Price cuts

0.0%

New listings

Sources · Zillow ZHVI (September 2026) / Realtor.com (July 2026) / FRED (October 2026)

The outlook

94304 housing market forecast 2027

+2.2%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 94304 to rise 2.2% by September 2027.

Over the 12 months through September 2026, typical home values in 94304 rose 3.2%, per the Zillow Home Value Index.

Will home prices drop in 94304?

Zillow's forecast does not call for a drop: it expects typical home values in 94304 to rise 2.2% by September 2027, after a 3.2% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 94304 home prices compare?

94304$3,193,983
Palo Alto$3,281,081
California$692,765
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Palo Alto: 4 ZIPs; California: 1,543 ZIPs; United States: 26,262 ZIPs).

Context

The market in 94304 shows resilience in price appreciation, with the typical home value rising 3.2% year over year. However, the 178 day median on market suggests homes are not moving quickly despite price growth. The median list price of $7,999,000 reflects the ultra-premium character of this Palo Alto enclave. No listings have experienced price cuts, which points to sellers holding firm on their asking prices even as time on market extends. For owners weighing a sale, the long time to close should factor into your timeline and expectations.

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Down payment20% · $638,797

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Common questions

What people ask us.

What is the typical home value in Palo Alto 94304?

The typical home value in 94304 is $3,193,983, having appreciated 3.2% over the past year as of September 2026.

How long do homes stay on the market in this ZIP?

Homes in 94304 are taking a median of 178 days on market as of July 2026.

Are sellers reducing prices in Palo Alto 94304?

As of July 2026, 0.0% of listings in 94304 have experienced a price cut, meaning all active listings are holding their original asking prices.

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