Improvements in the local economy have once again created strong demand for single family homes in Menlo Park, CA. Looking at Menlo Park single family home sales that closed in August, we can skip the fancy analysis and get a good feel for the market by simply looking at the raw data in the table below.
Menlo Park Single Family Home Sales Completed In August 2011
List Price |
Sale Price |
List-to-Sale % |
Days On Market |
$4,280,000 |
$4,100,000 |
-4% |
40 |
$2,295,000 |
$2,050,000 |
-11% |
71 |
$1,849,000 |
$1,800,000 |
-3% |
0 (sold off market) |
$1,639,000 |
$1,619,000 |
-1% |
31 |
$1,450,000 |
$1,425,000 |
-2% |
7 |
$1,395,000 |
$1,627,000 |
+17% |
12 |
$1,395,000 |
$1,370,000 |
-2% |
24 |
$1,395,000 |
$1,426,000 |
+2% |
11 |
$1,295,000 |
$1,450,000 |
+12% |
10 |
$980,000 |
$925,000 |
-6% |
25 |
$998,000 |
$860,000 |
-14% |
23 |
$894,000 |
$1,027,500 |
+15% |
14 |
$875,000 |
$870,000 |
-1% |
9 |
$860,000 |
$860,000 |
- |
10 |
$839,000 |
$820,000 |
-2% |
53 |
$740,000 |
$799,000 |
+8% |
22 |
$795,000 |
$765,000 |
-4% |
13 (bank REO) |
$648,000 |
$652,000 |
+1% |
4 |
$625,000 |
$725,000 |
+16% |
3 |
$499,524 |
$490,000 |
-2% |
60 (bank REO) |
(Search the MLS at: www.jsrealproperty.com )
What does this data tell us about Menlo Park home sales in August?
ü 15 of 20 homes that sold were on the market less than one month
All homes are unique, so this or any other market data or analysis may not be directly relevant to a specific home you may be looking to purchase. But knowing this information, it could be wise to:
ü Use an automated system to monitor the market daily for new listings and price changes
ü Be prepared to submit a competitive offer soon after a property comes on the market
One more interesting piece of data: There are 52 single family homes for sale in the Menlo Park MLS today (September 13, 2011), of which 9 have been on the market less than a week and 20 have been on the market less than one month.
Click on www.jsrealproperty.com to search the MLS and to sign up to receive automatic updates by email for Menlo Park homes for sale, Menlo Park luxury homes for sale, Menlo Park estates for sale, and Menlo Park residential lots and land for sale.
For the latest local, regional and national market information, check out our 1 Minute Housing Market Report when you visit www.jsrealproperty.com .
Questions? Drop me a line at john@jsrealproperty.com .
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