Not enough inventory, plenty of buyers.
There are currently 30 single family Menlo Park homes for sale down from 37 last week.
There are currently 12 Menlo Park town homes/condos for sale up from 9 last week.
There are currently 25 pending sales of Menlo Park single family homes down from 28 last week.
There are currently 5 pending sales of Menlo Park homes/Condos down from 8 last week.
In September of 2013 there were 16 single family Menlo Park homes sold, a big decrease from Aug closings, but listing in August are always down so that translates in a decrease in closing in August. The prices ranged from $537,000 to $4,500,000 a little higher than in August. If you look at just the Menlo Park homes with Menlo Park schools the lowest price in Aug. was $1,300,000 up over $400,000 from the lowest price home with Menlo Park schools in August. In September of 2013 there were 5 Menlo Park Town Homes/Condos sold. The prices ranged from $540,000 to $1.070.000.
The inventory of single family homes for sale in Menlo Park is still at historically low levels but a little higher than last week. The pending sales however do not exceed active listings so that gives us some hope that the insanity may be dampening. In fact there are few pending sales than last week. Now that the current crisis in Washington is over the stock market will probably rebound and with it the home sales. If you would like to search for homes for sale please feel free to visit my website for a custom search.
If you have any questions about buying or selling a home in Menlo Park please feel free to contact me.
- See more at: http://activerain.com/blogs/marcymoyer?page=2#sthash.6znOKYEx.dpuf