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Sarah Mitchell
Compass Real Estate · ZIP 94306
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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94306 ZIP Code Housing Market
$3.20Mmedian sale price
What is the 94306 housing market like right now?
The median home sale price in ZIP code 94306 is $3.20M, up 7.9% year-over-year. Homes sell in an average of 14 days with 33 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 94306 ZIP code a buyer's or seller's market?
ZIP code 94306 is currently a seller's market and homes selling in about 14 days. How we determine this →
What are the latest 94306 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $3.20M |
| Median list price | $2.80M |
| Year-over-year price change | +7.9% |
| Average days on market | 14 days |
| Active inventory | 33 listings |
| Sale-to-list price ratio | 107.3% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
The 94306 zip code, located in Palo Alto, CA, is currently classified as a seller's market. The median sale price stands at $3.20M, representing a +7.9% change year over year. Homes in this area spend an average of 14 days on the market before going under contract. There are currently 33 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 94306 sits in the Palo Alto, CA area, roughly 1.5 miles from downtown Palo Alto. Because home prices are set street by street, this ZIP can move differently from Palo Alto's citywide averages. The figures below reflect 94306 specifically — drawn from Redfin transactions, U.S. Census data for its 27,183 residents, and Zillow value estimates.
Homes sold
72
Last 12 weeks
Days on market
14
Fast-moving
Active listings
33
Sale-to-list
107.3%
Above asking
Market trends
What is driving the 94306 housing market?
The 94306 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a seller's market, homes are selling at approximately 107.3% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 94306 have increased +7.9% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 94306 stands at $3.45M, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $3,716 per month. This gives a price-to-rent ratio of approximately 77.5, which indicates that renting may be more cost-effective than buying in the short term, though long-term appreciation could shift that calculus. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 94306?
Population
27,183
Median income
$210,000/yr
Median age
42.3 years
Owner-occupied
52.6%
College grads
80.9%
Avg commute
18.51 min
What is it like living in 94306?
Zip code 94306 is home to approximately 27,183 residents. The median household income is $210,000 per year, which shapes the types of homes and amenities available in the area. With a median age of 42.3 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 52.6% of housing units are owner-occupied, showing a healthy mix of homeowners and renters that contributes to a diverse community.
About 80.9% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 18.51 minutes, which is shorter than the national average and suggests good proximity to employment centers. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 94306.
Which public schools serve ZIP 94306?
8 schools tracked · 4,917 students
The largest public schools serving ZIP code 94306 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Henry M. Gunn High
Grades 9-12 · 1,713 students
Jane Lathrop Stanford Middle
Grades 6-8 · 1,025 students
Ellen Fletcher Middle
Grades 6-8 · 549 students
Fairmeadow Elementary
Grades K-5 · 441 students
Herbert Hoover Elementary
Grades K-5 · 386 students
El Carmelo Elementary
Grades K-5 · 314 students
Juana Briones Elementary
Grades K-5 · 260 students
Barron Park Elementary
Grades K-5 · 229 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 94306
What is the median home price in 94306?
The current median sale price in 94306 is $3.20M, based on recent Redfin transaction data. Prices have changed +7.9% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 94306 a buyer's or seller's market?
The 94306 zip code is currently classified as a seller's market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 94306?
Zip code 94306 has a population of approximately 27,183 residents. The median household income is $210,000 per year. About 52.6% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 94306?
Properties Incorporated provides comprehensive data for 94306 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 94306 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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