Here are a few new listings in downtown Palo Alto that will be on tour this Friday.

Downtown Palo Alto offers all of the excitement and fun of living in a city but with suburban convenience.

Many of the streets are lined with beautiful old trees.

The houses vary from 1920 bungalows to spectacular new construction.

We're sorry, but we couldn't find MLS # 81001691 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 81016759 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Just let me know if any of these properties interest you or if you would like to learn more about the downtown Palo Alto real estate market.

There are two new listings on tour in downtown Palo Alto Friday April 16, 2010.

We're sorry, but we couldn't find MLS # 81018262 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 81012941 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

To search for all homes, condominiums, and townhouses for sale in downtown Palo Alto, click here.

Palo Alto 94301 generally includes all areas north of Oregon Expressway east of Alma including downtown, Professorville, Old Palo Alto, and Crescent Park. This is Palo Alto’s most expensive zip code as you will see by the median prices below.

Where is the market in this area of Palo Alto headed?

The median list price in Palo Alto 94301 increased to $2,475,500.

Average price per square foot in Palo Alto 94301 decreased to $951.

Average days on market increased to 90.

33% of the listings in Palo Alto 94301 have a price reduction.

The current market action index for Palo Alto 94301 is 20 – below 30 is considered a buyers’ market.

This market action index is a higher higher – indicating a little warmer market – still a buyer’s market but not as strongly so as other Palo Alto areas.

Below you will find chart showing market action index by price range over the past 6 months.

The price range is broken down into 4 quartiles:

Highest has median price of $5,495,000

2nd highest has median price of $2,649,000

3rd highest has median price of $1,922,250

Lowest has a median price range of $1,245,000

Wow ! The market action index took a big plunge right about time the stock market was going south.

But has rebounded strongly since that time. It is almost like the market took a real shot – then caught its breath – and then buyers started realizing what a fabulous place the older and most northern neighborhoods of Palo Alto are.

As an aisde the Facebook building on Hamilton Avenue is for sale at $9.1M.

The Facebook building at 164 Hamilton Ave. Palo Alto just came on the market at $9.1M.

This 10,395 square foot office building is listed by Vince Schwab.

2 years ago, I very much enjoyed selling a house located on Addison right across the street from HP’s founding garage location.

Now I will work on Facebook’s building.

Downtown Palo Alto is happening.

There were two new beautiful condominium listings in downtown Palo Alto.

Downtown Palo Alto is a highly sought after location. University Avenue and all its shops, stores, and restaurants are within a few minutes walk from these two listings.

800 High St. $407, Palo Alto is listed by Nicklas Granoski at $1,398,000.

This unit is a top floor condo in a four story building – 4 bedrooms 2 baths all on one level – contaning 1,638 – built in 2006. This building has a San Francisco loft/industrial feel on the outside.

The other new listing is 315 Homer Ave. #203 Palo Alto listed by Elizabeth Daschbach at $1,348,000.

This condominium is located int he desirable Weatherley building built by Summerhill in 2004.

This unit contains 1,510 square feet of living space all on one level with 2 bedrooms and 2 baths.

Just give me a call if you would like to see either of these condominiums or others in the downtown Palo Alto and Menlo Park areas.

Downtown Palo Alto is a fabulous place to live. One can walk to numerous fine restaurants and excellent shopping. CalTrain is nearby and Stanford University is just across El Camino from downtown Palo Alto. There are several smaller parks in the downtown area.

On tour this Friday, I saw 4 smaller properties all listed around $1,000,000.

Gina Lazar of Cashin Properties glazar@lazarhomes.com has listed 2 of these newly listed downtown Palo Alto properties:

109 Webster St. for $825,000

This is a darling 2 bedroom 1.5 bath cottage has 692sf of living area and is situated on a 2,178sf lot.

612 Palo Alto Ave. listed at $950,000.

This 2 bedroom 2 bath bungalow contains 1,640sf of living area and has been recently updated inclduing a small loft. The lot is 2,178sf.

These 2 properties are combined through a tenant-in-common form of ownership that we are beginning to see more and more of in Palo Alto. It is quite common in older San Francisco buildings commonly referred to as TICs (“ticks”). In this kind of ownership, there are several tenant in common owners of the entire property with each owner having the right to occupy a specific portion of the entire property. These are slightly different from condominium ownership but the concepts are very similar. There are governing documents in both cases which spell out the rights and responsibilities of each owner. In years past, TIC properties require one blanket loan on the entire property (i.e. individual loans were not made to each individual owner but rather one loan was made to all the owners in the TIC). This is now starting to change as a small number of lenders are offering individual loans secured by individual tenant-in-common interests. Please contact me if you would like further information on this ownership concept.

240 Fulton Street is listed by Patricia Peterson of Coldwell Banker, patricia@nestfinder.com for $1,100,000.

This chamring English cottage contains 2 bedrooms and 1 bath. It is located on a 4,791sf lot. There is a hot tub in the rear yard.

The next newly listed property is a condominium in the fabulous 2 year old building at 800 High Street. 800 High St. #105 is listed by Frances Papapietro of Coldwell Banker, fran.papapietro@cbnorcal.com for $1,098,000.

This property is a ground floor 2 bedroom 2 bath unit of 1,279sf.

You can walk right out your front door and be at Watercourse Way in about 2 minutes.

So there are some options in this price range for people who want to live in downtown Palo Alto.