At one time, East Palo Alto was known for its crime, but not anymore.

In fact, now the city is poised to join a very exclusive club — one where at least half the homes for sale will cost more than a million dollars. 

“This home is priced under 1.4 and we expect multiple offers and expect it to sell above 1.6,” said real estate broker Catherine Gortner. 

Above $1.6 million for this 4-bed, 2-and-a-half bath home in the University Square neighborhood — that’s more than double what it sold for in 2000. 

And it’s not just in this East Palo Alto neighborhood. 

This home for example on Fordham Street sold for $240,000 in 2008, $460,000 in 2014, and sold in June of this year for $895,000. 

New research from Zillow says East Palo Alto is on the cusp of joining the million dollar club, meaning more than half the homes for sale will sell for over a million dollars. 

Realtors say it’s already happening. 

“Now in East Palo Alto, you have the Facebook effect.”

That is an influx of wealth from Facebook employees who want to buy homes close to where they work. 

“The good news for homeowners is you have a lot of equity and have you have been here you can take that equity and move out of state if you want.”

For buyers, the news isn’t as good. 

“They will probably have to go to East Bay or farther because the entire peninsula is expensive.”

WHAT OTHERS ARE CLICKING ON:

>>MORE STORIES