From January through December of 2017, there were 66 homes sold, with a median sale price of $202,328 - a 25.3% increase over the $161,500 median sale price for the previous year. There were 76 homes sold in Palo in 2016.
The median sales tax in Palo for 2017 was $2,969. In 2016, the median sales tax was $2,861. This marks an increase of 3.8%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.5%.
The following table compares Palo to other Linn County cities with similar median sales prices in 2017:
| City | Jan. - Dec. 2017 Home Sales | Jan. - Dec. 2016 Home Sales | % change (Total Home Sales) | Jan. - Dec. 2017 Median Sales Price | Jan. - Dec. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Bertram | 5 | 6 | -16.7% | $485,000 | $296,500 | 63.6% |
| Robins | 58 | 59 | -1.7% | $300,000 | $297,500 | 0.8% |
| Walford | 10 | 4 | 150% | $277,450 | $278,442.50 | -0.4% |
| Ely | 67 | 63 | 6.3% | $217,185 | $138,000 | 57.4% |
| Palo | 66 | 76 | -13.2% | $202,327.50 | $161,500 | 25.3% |
| Mount Vernon | 62 | 77 | -19.5% | $188,500 | $189,500 | -0.5% |
| Alburnett | 16 | 14 | 14.3% | $175,000 | $128,500 | 36.2% |
| Center Point | 73 | 84 | -13.1% | $160,500 | $141,250 | 13.6% |
| Marion | 1,025 | 1,091 | -6% | $158,000 | $164,000 | -3.7% |
| Lisbon | 46 | 78 | -41% | $152,500 | $125,000 | 22% |
| Fairfax | 58 | 69 | -15.9% | $150,750 | $200,000 | -24.6% |
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