patrick.net

This house listed originally for $2,195,000 (about $670/sq. ft.). It was just lowered to $1,995,000 ($609/sq. ft.) (a 9.1% drop). Oh and when it was BRAND NEW in 1999 it sold for $1,295,000 ($395/sq. ft).

To complicate matters the neigboring (but slightly smaller although architecturally similar) house 810 Arroyo Ct sold in 2007 for $2,100,000 ($711/sq.ft.). Using its neighbor (by the same builder) as a comp and now that one is worth $1,798,377. Basically a $300,000 (15%) drop in 2 years.

The might Palo Alto real estate market is becoming the Palo Muerto real estate market.

So here's an update. 830 Arroyo solde for 1,935,000 meaning it fell $260,000 from its listing price or a 12% drop.

Well it turns out that 830 Arroyo sold for 1,935,000 so it dropped 12% from its listing price.

Home value of 94306 is dropping for year now. Many of them lot more than 12%. People who used to argue Palo Alto being fortress area no longer try to defend this area. Their mythical fortress area now shrunk to 94301 only.