Friday, January 5, 2018

Menlo Park Ca Real Estate Market Update 2/2/2014

Menlo Park Ca Real Estate Market Update 2/2/2014
BY 
Real Estate Agent with eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales B.R.E. 01191194
 
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 22 single family Menlo Park homes for sale. this is a very low number but almost twice as many as in Palo Alto.

There are currently 5 Menlo Park town homes/condos for sale which is really low, but more than in Palo Alto.


There are currently 4 pending sales of Menlo Park homes/Condos down from 8 last week.

This week there were 6 new Menlo Park single family home listings and 1 new Menlo Park condo listings. Not nearly enough to satisfy demand.

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 because it means that the buyers actually live in this country and the houses will be occupied by either home owners or tenants. There have been a number of homes that are bought with cash by people from other countries and are often left vacant. This does not help the current housing crunch with our huge need for both owner occupied and rental properties.

The inventory of single family homes for sale in Menlo Park is still at historically low levels and shows no sign of geting better. Hopefully now that we are past Super Bowl, and more importantly Puppy Bowl, there will be more homes coming on the market.  If you would like to search for homes for sale please click here.

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

Marcy Moyer
marcy@marcymoyer.com
Ca B.R.E. 01191194
650-619-9285
POSTED BY
Marcy Moyer eXp Realty of California  Specializing in Probate and Trust Sales, and Rental Investment Properties

TOPIC:
 Real Estate Market Trends
LOCATION:
 
California San Mateo County Menlo Park
GROUPS:
 
Keller Williams 'Rainers
 
Posts to Localism
 
Club Chaos
 
Market Reports
 
Condo Benefits
TAGS:
 
menlo park homes for sale
 
menlo park market
 
menlo park real estate agent
 
menlo park real estate specialist
menlo park real estate market

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