What's happening - Menlo Park CA market trends

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.

--- Come for a visit; Stay for a lifetime!

Lottie Kendall, Realtor®

Pacific Union International

CA DRE#10215160; 650-465-4547

Lottie@LottieKendall.com

www.LottieKendall.com

Peninsula Living Business Page

www.SFCondosForMe.com

 

 

Comment balloon 5 commentsLottie Kendall • January 24 2015 10:52PM

Comments

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

Posted by Nancy Laswick, Your REALTOR® For The Valley Of The Sun (United Real Estate) almost 4 years ago

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. 

Posted by Sharon Parisi, Dallas Homes (United Real Estate Dallas ) almost 4 years ago

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

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) almost 4 years ago

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!

Posted by Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com, Tahoe Real Estate Agent Helping Buyers and Sellers (Coldwell Banker, Tahoe City, CA (530) 414-1260) almost 4 years ago

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.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) almost 4 years ago

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