Menlo Park Monthly Real Estate Sales Figures for October 2011

The average sales price of a home in Menlo Park fell 7.8% for the month of October 2011 compared to October 2010.  The total number of sales for both periods were similar, which is good news, but the home prices were a little lower than expected.  The surprise number is that the average price per square foot rose, so that means people are paying less, but also for smaller homes.

All other numbers for the month look healthy for both buyers and sellers.  Luxury real estate in Menlo Park, Palo Alto and Atherton is still in demand compared to the rest of the country and nothing to complain about.  See the attached short video for all the key statistics.

Menlo Park Real Estate Update – Statistics for September 2011

A short video that shows the important real estate statistics for Menlo Park sales figures for the month of September, 2011 compared to September 2010. This is a good indicator on how the real estate market for Menlo Park is doing and helps buyers and sellers determine timing for buying or listing a home for sale.

Central Menlo Leads Sales Volume By Large Margin in Menlo Park

The Central Menlo area showed the most total sales volume by dollar amount compared to other areas of Menlo Park by quite a large margin. There was just over $122 million dollars in total sales for the last twelve month period. The results are based on 390 total sales for all of Menlo Park and 62 sales were posted in the Central Menlo area. Coming in second for amount of units sold was actually the east of 101 area of Menlo Park, however, the home sales prices are dramatically different than Central Menlo and the reason for the vast dollar amount difference. Luxury real estate sales are still strong as Central Menlo had an average sales price of just under two million dollars.

Area: Dollar Volume: Number of Sales
Central Menlo: $122,821,516: 62
County / Alameda Area: $67,163,500: 44
Allied Arts / Downtown: $50,725,625: 34
Willows / O’Conner Area: $47,499,890: 43
Menlo Oaks Area: $41,449,100: 21
Sharon Heights / Stanford: $35,012,600: 18
Middlefield to El Camino: $33,717,910: 28
County Area / Fair Oaks Ave: $24,399,875: 36
Flood Park Area: $24,246,275: 29
East of U.S. 101: $18,110,811: 61
Felton Gables: $9,250,000: 4
Alpine Road Area: $6,006,000: 6

High End Homes on Peninsula are selling.

In case you missed it, here is an excerpt from a recent article about the high end housing here on the Peninsula and how well it is selling.  Los Altos Hills  has had the big sale while Palo Alto is consistent and almost a sellers market.  Atherton and Menlo Park and moving along nicely with Atherton getting the high end sales.

Menlo Park Home Prices Spike in February

It looks like sales are starting to jump in Menlo Park.  In what is typically a slow start to the new year, the average price for a home sold in Menlo Park in January 2010 averaged only $630,000, but jumped to an average sale price of $1,438,000 in February. This much anticipated jump in average price is a good sign that people are still looking for and buying real estate in the SF Peninsula. Menlo Park real estate is getting ready for a busy spring season.