Palo home prices fall in the first half of 2020

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The median sale price of a home sold in the first half of 2020 in Palo fell by $24,000 while total sales increased by 53.3%, according to BlockShopper.com.

From January through June of 2020, there were 23 homes sold, with a median sale price of $190,000 - a 11.2% decrease over the $214,000 median sale price for the same period of the previous year. There were 15 homes sold in Palo in the first half of 2019.

The median sales tax in Palo for the most recent year with available data, 2017, was $2,969, approximately 1.6% of the median home sale price for the first half of 2020.

The following table compares Palo to other Linn County cities with similar median sales prices in the first half of 2020:

CityJan. - June 2020 Home SalesJan. - June 2019 Home Sales% change (Total Home Sales)Jan. - June 2020 Median Sales PriceJan. - June 2019 Median Sales Price% change (Median Sales Price)
Walford24-50%$314,750$266,45018.1%
Robins2328-17.9%$290,000$274,5005.6%
Fairfax2336-36.1%$259,900$202,90028.1%
Mount Vernon1829-37.9%$216,500$208,0004.1%
Ely1933-42.4%$215,000$250,000-14%
Palo231553.3%$190,000$214,000-11.2%
Springville1416-12.5%$184,750$145,50027%
Marion341449-24.1%$175,900$172,5002%
Central City1013-23.1%$174,750$146,69319.1%
Center Point2538-34.2%$156,100$144,2008.3%
Lisbon1626-38.5%$150,500$166,750-9.7%

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