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Data comes from publicly available sources which can be out of date. PropertyShark.com provides no warranties regarding title, merchantability, or fitness for a particular purpose. Of homes in Menlo Park are required to have flood insurance. Click on the risks below to learn which exist in Menlo Park today and how they’ll change by 2050.
We achieve similar excellent search results for nearly all Silicon Valley cities. We know how to promote successfully both digitally and in print. In November 2022, Menlo Park home prices were up 101.6% compared to last year, selling for a median price of $250K. On average, homes in Menlo Park sell after 80 days on the market compared to 33 days last year. There were 7 homes sold in November this year, down from 15 last year. In November 2022, Menlo Park home prices were down 5.8% compared to last year, selling for a median price of $2.8M.
Menlo Park Median Sale Price
Following the first two most expensive neighborhoods to live in Menlo Park is Felton Gables with a median home price of $3,902,019 and a median rent of $2,430. With a median home price of $8,097,005, Central Menlo Park is the most expensive neighborhood on our list. Based on the growth in home prices in Central Menlo Park over the last 3 years, it ranks No.1 among all the neighborhoods in Menlo Park. Save both your time and money by working with the best Menlo Park Realtor. The number 1 reason home buyers choose to work with a real estate agent is to get help "finding" the best home.
Up to date knowledge and connections are key to finding the best home. However, there is much more involved than finding the home. After finding the best home, you will have to make the most attractive, competitive, offer. It is important to know that factors other than just money play a key part in the seller's decision.
Yearly Average Menlo Park House Prices Per Square Foot
When looking at average condo prices, the average age should be checked to see if prices are changing because of demand or because different types of condos are being sold. When trying to understand the Menlo Park real estate market, it is useful to take a look at the extremes of the sales price range. Average buyers and sellers in each price range may act differently. The sales price of a Menlo Park house is affected by its size. Looking at price per square foot gives a partial adjustment for differences between houses. Furthermore if you look at the average size of a Menlo Park house sold you will see that it varies with time.
Many people look at "Days On Market", the average number of days a townhouse is offered for sale before it sells, to spot changes in the townhouse real estate market. Increasing DOM implies buyers are not being as competitive to buy townhouses. This statistic also tends to have a seasonal variation. Seasonal variation in this statistic can make it difficult to use this statistic to predict either rising or falling townhouse prices.
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76% of Menlo Park homebuyers searched to stay within the Menlo Park metropolitan area. Chicago homebuyers searched to move into Menlo Park more than any other metro followed by Kalamazoo and Pullman. Across the nation, 3% of homebuyers searched to move into Menlo Park from outside metros. In Sep '22 - Nov '22, 24% of Menlo Park homebuyers searched to move out of Menlo Park, while 76% looked to stay within the metropolitan area.
Heat risk estimates how much climate change might increase the typical number of hot days in a year and the likelihood of extreme heat and heatwaves. Flood risk in Menlo Park is increasing slower than the national average. The latest migration analysis is based on a sample of about two million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user must have viewed at least 10 homes in a three month period. Listing information is deemed reliable but not guaranteed. Certain information contained herein is derived from information which is the licensed property of, and copyrighted by, MLSListings Inc.
This makes it one of the most expensive cities in the US. Menlo Park is part of San Francisco-Redwood City-South San Francisco Metro Div. Metro area, which is ranked 3 out of 273 cities across the US in terms of cost of living. According to C2ER , the cost of living in Menlo Park is estimated to be 194.5% of the national average making it one of the most expensive cities in the US. Second to the last is Belle Haven with a median home price of $1,149,691 and a median rent of $2,550.
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The viewer acknowledges ownership and validity of its copyright. The viewer is prohibited from copying, redistributing or retransmitting any of the data or information provided by MLSListing, Inc. The median home price in Menlo Park is $1,662,500 with a median price per sqft of $1,164. Total monthly expenditure you can expect to incur depends on the cost of housing, food, utilities, transportation, healthcare, other miscellaneous goods and services. Note that your household composition and home ownership status (renting vs. owning) might affect your monthly expenses. Use our cost of living calculators to assess how much you’ll need to earn to live comfortably in key cities.
The lowest number of condos sold typically occurs around December & January. This seasonal variation is often altered for condo sales by a large new development beginning to sell their condos. Price changes do not track the seasonal change in the number of condos sold. The behavior of buyers and sellers can be somewhat different depending on the price of the house.
Next up is Suburban Park / Lorelei Manor / Flood Triangle with a median home price of $2,493,018 and a median rent of $2,810. With a median home price of $1,799,473, The Willows is 8th on our list. Next on the list is Linfield Oaks with a median home price of $2,347,835. Several factors can influence the choice of place such as demographics, nearby schools, amenities, local community, and more.
Short summary of 4 key Menlo Park real estate trends for condos which can be printed. Get an estimate of income required to live comfortably in Menlo Park. Our cost of living calculator will give you an estimate of your expected expenditures on food, utilities, transportation, housing, healthcare, and more. Simply pick your marital status and family type from the drop-down. We've put this all together for Suburban Park / Lorelei Manor / Flood Triangle. Can sell for around list price and go pending in around 33 days.
Yearly Average Size of Menlo Park Condos Sold
When trying to understand Menlo Park condo prices the first and most often real estate statistic looked at is either average or median condo sale price. The average price can be pushed up by a particularly expensive condo being sold. Much less often an especially low price for several condos can push the average price down. When a condo development is offered for sale, the high number of units offered can shift both average and median prices.
The behavior of buyers and sellers can be somewhat different depending on the price of the condo. There are times when low to mid-range condos are selling quickly but higher priced condos aren't, or the reverse may be true. It can take several years for a condo development to begin selling but it was surely built to target expected demand. Looking at the average size of condos being sold can provide additional insight into the condo real estate market. A quick estimate of how active the Menlo Park condo real estate market is can be found by looking at the number of condos sold. Locally there is a strong seasonal change in the number of condos sold.
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