How Much Is My Crescent Park Home Worth?
Since the start of 2021, homes in Palo Alto’s prestigious Crescent Park neighborhood have held their value and more. We’ll look at sales data in (mostly) visual form.
At the Young Platinum Group, we use data like this to help our sellers command top dollar and our buyers spot deals. If you are looking for help in your next real estate transition, contact us to see if we can help. A complete analysis of your home’s unique strengths would need us to assess its condition and your goals, which we’d be delighted to do. But in advance of that, let’s go!
Crescent Park’s top sale since January 2021 was 445 Hale, at $11,350,000. There were only 41 sales, spread geographically across the neighborhood
50% of Crescent Park sales since January 2021 were between $4.38 million and $6.09 million.
There is a weak trendline down among Crescent Park sales prices. Should a homeowner here worry? No, $/ft² is rising, as we shall see soon. The apparent decline in prices reflects the specific houses, not the trend for houses.
If we represented the sales price as area, we’d get the image above. Hey, we just did!
Dollars per square foot is the most common way to equalize all things about differing houses. This metric rewards newness, beauty, functional floor plans, large lots, and small houses. 1463 Kings Lane was the winner due to its modest 1,310 ft² of house, underbuilt for its 7,471 ft² lot, and on a quiet street.
Crescent Park’s median $/ft² was 1,818, while 50% of houses ranged between 1,613 and 2,012 $/ft².
If we plot sales over time, we see a modestly rising $/ft² trendline. Due to the comparatively modest lot sizes, Crescent Park did not appreciate as strongly as Los Altos Hills or Portola Valley; large lots were strongly favored during the pandemic.
Sizing Crescent Park sales by square footage of houses produces the image above.
Crescent Park’s median $/ft² was 1,818, while 50% of houses ranged between 1,613 and 2,012 $/ft².
The median lot size was 8,862 ft² over the houses that sold since January 2021
The largest lots in Crescent Park, not surprisingly, tend to be near the “crescent” of San Francisquito Creek.
Newer construction is sprinkled here and there across Crescent Park. These “build dates” do not reflect major internal renovations.
The most common bedroom count was 4. 1080 Palo Alto Avenue won the prize for most bedrooms (7).
It is jaw-dropping to those moving to the area that $5-10 million only buys 2 garage spaces at best, but that is the way Crescent Park rolls.
22% of Crescent Park homes sold had a pool.
Crescent Park is known for a wide variety of home styles. The eclectic architecture and landscaping are part of the charm of this neighborhood.
Crescent Park has it all! These categories are chosen by the listing agent to describe the house, so they are somewhat subjective.
Want to sell your Crescent Park house but are worried that you have no AC? Fear not: 44% of homes sold here last year don’t have classic “forced air” cooling.
Do you think all transactions are won by “all-cash” buyers? Think again! 63% of sales here involved a lender.
Selling your house here and wondering how long it might take? 11 days is the median over the past 1.25 years. Homes on University Avenue are the notable exception.
50% of Crescent Park sales lasted 7-44 days on market, which is slower than the Silicon Valley average.
Finally, what about a basic tabular presentation of the underlying data? Here’s the core of it:
A note about methodology: all data come from publicly available MLS data and include sales (not close) data between January 1, 2021, and March 31, 2022.
About the Authors/Datamancers
The Young Platinum Group (aka Gloria and John) specializes in Palo Alto, Atherton, and the surrounding areas. We work with buyers, sellers, and builders to enhance exceptional lives in the finest homes in the heart of Silicon Valley. Would you like this sort of data on your side in your next real estate transaction? Or a complimentary analysis of what your home is worth in the current and ever-evolving market? We are here to help. This sort of original analytical work, customized on your behalf, with our fabled customer service, can be deployed for your needs to make your next move a smooth and happy one. We proudly affiliate with Golden Gate Sotheby’s International Realty for our realty activities and the Peninsula’s finest builders, architects, and designers for our development projects.
