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At the beginning of the Covid-19 pandemic there was speculation that urban home prices would suffer. Looking at Mountain View house prices through the end of December, 2020, there is no indication that home prices in Downtown Mountain View are affected.
More information about the Downtown Mountain View neighborhood, including more real estate trends and downtown attractions, is available at: Downtown Mountain View.
With many college campuses either closed or partially closed, there are fewer renters near the campuses. Has the decrease in rental demand tipped demand for owning homes in those locations? Stanford University is adjacent to the Palo Alto College Terrace Neighborhood. Many of the Stanford students and even visiting professors rent a place to stay, near the campus.
The pandemic does not appear to have changed the Palo Alto real estate trends (for what could be imagined to be the most impacted areas) significantly at this time.
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.
At the beginning of the Covid-19 pandemic there was speculation that urban home prices would suffer. As of the end of November, 2020, there is no indication that home prices in Downtown Palo Alto are even slightly suffering.
More information about the Downtown Palo Alto neighborhood, including more real estate trends and downtown attractions, is available at: Downtown Palo Alto.