Menlo Park Real Estate Market Update
The median list price home in Menlo Park this week is $1,098,500.
Inventory has been lightening lately and the Market Action Index
has been trending up. Though days-on-market is increasing, these
are mildly positive indications for the market.
Supply and Demand
Home sales have been exceeding new inventory for several weeks.
While still a Buyer’s market, prices seem to have responded by
moving upward. If the demand trends continue, expect prices to
keep marching upward, especially once we see a Seller’s Market.
Market Action Index: 19 (strong buyer)
Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.
Real-Time Market Profile Trend
Median List Price $ 1,098,500
Median Lot Size 6500 SF
Average Days on Market (DOM) 97
4,501Median House Size (sq ft) 1690
Median Number of Bedrooms: 3
Asking Price Per Square Foot $636
Despite this week’s down tic, price trends have generally been
moving up lately. Prices are below the market’s high point, and
so watch the Market Action Index as an indicator of how long this
trend will last.
