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Menlo Park Ca Real Estate Market Update 2/8/2014
As a Menlo Park Real Estate Agent I am always being asked, "How's the market in Menlo Park?" The answer is simple:
Not enough inventory, plenty of buyers.
There are currently 25 single family Menlo Park homes for sale up from 22 last week.
There are currently 3 Menlo Park town homes/condos down from 5 last week.
There are currently 19 pending sales of Menlo Park single family homes up from 14 last week.
There are currently 6 pending sales of Menlo Park homes/Condos up from 4 last week.
This week there were 6 new Menlo Park single family home listings and 2 new Menlo Park condo listings. Not nearly enough to satisfy demand. Hopefully this week will be better.
In January of 2014 there were 12 single family Menlo Park homes sold ranging in price from $255,000 to $3,000,000. For a Menlo Park home with Menlo Park schools the prices ranged from $1,510,000 to $3,000,000. In January of 2013 there were 2 Menlo Park Town Homes/Condos sold. The prices ranged from $1,160,000 to $1,168.000.
Of the 14 Menlo Park sales in January of 2014 only 4 were sold with all cash, the other 10 were financed. This is a very good number of financed offers ... more
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