Palo Alto used to be a simpler place, it seems. Back in 1959, when the two bed, two bath Eichler creation at 127 Greenmeadow Way that just listed again today was new, the city had a median household income of merely $9,132 for its 52,827 residents.
(Although for the record that’s about $78,000 in today’s currency, though, and above average even for the time.)
More importantly, Palo Alto-based developer Joseph Eichler’s homes were relative bargains, usually selling for around $12,000, well within the reasonable ambitions of most middle-class and working families. That of course was the entire point, earning him the legacy of the man who built the suburbs.
But of course, times have changed. Now 127 Greenmeadow lists for the highly cushy sum of $1.35 million, which is even actually fairly modest by the standards of both the city and the Eichler set.
Part of that is the very natural outcome of the fact that it’s not 1959 anymore, but more importantly, what once made Eichlers seem like modest, everyday places is now in demand as a contrast to the more extreme and less homey trends in modern construction.
Realtor Travis R. Bertelsen lays out the classic Eichler appeal in the new ad for 127 Greenmeadow:
Vaulted open beam ceiling and wall to wall windows let in abundant natural light. Cozy wood burning fireplace and radiant heat floors will keep you warm all winter long. Two ground floor master bedrooms with spacious courtyard and garden patio with easy access to the sparkling community pool from the backyard. Located in the coveted Greenmeadow neighborhood of Palo Alto.
Palo Alto buyers still have a taste for the seemingly simpler time that Eichler’s homes encapsulate—but now they have to pay 2018 prices to get it.
Note that the last time this place sold was in 2003 for just $475,000, the equivalent of about $593,000 today.