What's happening - Menlo Park CA market trends

By
Real Estate Agent with Compass CA DRE# 01215160
https://activerain.com/droplet/4xkB

What's the market like? It's a common question I hear from buyers hoping to find a home in the sought-after town of Menlo Park, CA

Let's take a look, starting with a glimpse of what happened in 2014 in some of the Peninsula and Silicon Valley towns neighboring Menlo Park. This chart was prepared over a week ago, so the number of active listings has changed, as reported below.

 Real estate, SF Peninsula, 2014

As you can see, all these Peninsula and Silicon Valley towns show a very strong market in 2014. Days on market are very short, median sales prices are up over list prices -- all indicators of a seller's market.

The question people are wondering is whether this will continue in 2015, and of course there is no crystal ball. However, there are indicators.

Taking just the single-family market in Menlo Park:

As of this evening there are currently 13 homes listed for sale in our multiple listing service. 

High priced listing: $3,650,000

Lowest priced listing: $699,000

Median price: $2,100,000.

Two homes are listed under $1,000,000, one at $699,000 the other at $850,000. Neither of these are served by the highly desired Menlo Park School District.

There are 9 pending sales.

Five homes have closed escrow since the beginning of January.

The real estate market in Menlo Park is starting the year in the same strong manner we saw in 2014.

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Topic:
Real Estate Market Trends
Location:
California San Mateo County Menlo Park
Groups:
The Lounge at Active Rain
Sotheby's International Realty
San Francisco Bay Area Real Estate
Market Reports
2015 Market Reports
Tags:
menlo park ca
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Rainmaker
596,598
Nancy Laswick
United Real Estate - Phoenix, AZ
Your REALTOR® For The Valley Of The Sun

Menlo Park looks like a very hot market Lottie Kendall as sales seem to be running about $110K above list price.

Jan 24, 2015 03:29 PM #1
Rainmaker
1,059,537
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

Lottie Kendall My aunt and uncle used to live in Menlo Park.  It's a beautiful place to call home.  This is a great market report. Sale prices are high and your days on the market envious. 

Jan 24, 2015 03:58 PM #2
Rainmaker
2,249,119
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Lottie. Nice job with your report and sharing the information with all os us. You have a very strong real estate market.

Jan 24, 2015 07:08 PM #3
Rainmaker
1,118,644
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Lottie Kendall - Great real estate market update for the Menlo Park area!   I hope buyers and sellers call you for more market insight and help with their real estate needs!

Jan 26, 2015 05:05 AM #4
Rainmaker
1,765,968
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

The whole Peninsula is hot, hot, hot, Nancy Laswick

Sharon Parisi - Menlo Park is a delightful community with a great downtown.

You're definitely right, Joe Petrowsky - a very strong market up and down the Peninsula.

Hi Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com - I'm hoping sellers, in particular, see how little inventory there is; we can get great results for them if only they'd call.

Jan 26, 2015 06:34 AM #5
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Rainmaker
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Lottie Kendall

Helping make your real estate dreams a reality
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