Menlo Park Real Estate Market UPdate 5/19/2013

By
Real Estate Agent with eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales B.R.E. 01191194
https://activerain.com/droplet/VYw

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 39 single family Menlo Park homes for sale 

There are currently 10 Menlo Park town homes/condos for sale.

There are currently 47 pending sales of Palo Alto single family homes.

There are currently 6 pending sales of Palo Alto Town homes/Condos.

In April of 2013 there were 30 single family Menlo Park homes sold.  The prices ranged from $495,000 to $4,275,000. The lowest priced home in Belle Haven being almost $500,0000 is significant and shows that the market is up. If you look at just the Menlo Park homes with Menlo Park schools the lowest price in April was $1,075,000. No homes under a million in this category is also very significant.

In April of 2013 there were 6 Menlo Park Town Homes/Condos sold.   The prices ranged from $390,000 to $1,225,000. This is a high starting price point for condos as well. The lowest price condo that is not senior only housing was $700,000 for a 2 bedroom in Sharon Park.

This week the lowest price listing of a single family home is $1,099,000 which is higher that the lowest priced sale in April. Since most homes get multiple offers and sell higher than list price it is reasonable to expect that the lowest priced sale could be over $100,000 higher than the lowest sale in all of April. In other words, the market is still appreciating.


The inventory of single family homes for sale in Menlo Park is at historically low levels. I am hoping that as the summer progresses we will have more inventory.  I
f you would like to search for homes for sale please feel free to visit my website for a custom search.

http://marcymoyer.com/OnlineSearchRequest2?operation=choose_mls&timestamp=1359953266454

If you have any questions about buying or selling a home in Menlo Park please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

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Marcy Moyer eXp Realty of California  Specializing in Probate and Trust Sales, and Rental Investment Properties

 

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Rainmaker
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Bob Baesmann
DFW Team Realty - Plano, TX
DFW Team Realty | 972-978-8800

Great information on your local market.

Thank you for sharing this great information about the real estate market in your area!

May 20, 2013 01:57 PM #1
Rainmaker
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Marcy Moyer
eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales - Mountain View, CA
Probate, Trust, and Investment Specialist

Thanks Bob!

May 21, 2013 03:16 AM #2
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Rainmaker
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Marcy Moyer

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