Here's a vacant $9M 11,000 sqft lot in Palo Alto, California for your dream home

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On some blocks in Old Palo Alto, $9 million doesn’t even buy a roof.

Take the nice vacant lot with the for sale sign on Bryant Street near Coleridge Avenue.

It’s carpeted with redwood duff, ivy and oak leaves, surrounded by a clean, white concrete wall and proper Old Palo Alto neighbors in one of the Silicon Valley’s most desired neighborhoods.

“People are looking at the price tag and saying ‘Oh, my goodness, $9 million for nothing?” said agent Adam Touni. “That’s what’s throwing everyone. This is actually par for the course.”

It’s true. The estate next door is going for $20 million. Around the block, a former Facebook executive is offering his one-acre compound for twice that.

The rush of tech expansions, strong stock prices and hoped-for IPO windfalls has the top-end of the Bay Area economy accelerating like a Tesla in ludicrous mode. The Old Palo Alto neighborhood of leafy, century-old estates — former home to the late Apple co-founder Steve Jobs, current home to Google co-founder and CEO Larry Page — has become a hive of real estate selling and buying.

Five recently-listed compounds in the community just a mile from Stanford University are asking between $11 million to $40 million, according to Zillow data. At the low end, an 880-square foot, two-bedroom is priced at $1.9 million.

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