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However, this average takes into account both metro and suburban areas. So, the costs may go up or down depending on which neighborhood you eventually decide to stay. With a median home price of $4,852,500 and a median rent of $2,359, Allied Arts is 4th on our list. Short summary of 4 key Menlo Park real estate trends for townhouses which can be printed. The cost of living index for housing estimates the cost of housing in Menlo Park to be 362.2% of the national average.
The average price can be pushed up by a particularly expensive townhouse being sold. Much less often an especially low price for several townhouses can push the average price down. By looking at both average and median price a quick judgment can be made about any unusually high or low prices. When a townhouse development is offered for sale, the high number of units offered can shift both average and median prices. Many people look at "Days On Market", the average number of days a condo is offered for sale before it sells, to spot changes in the condo real estate market.
Quarterly Average Menlo Park House Sales Price vs. List Price
Lot sizes over 150,000 sf are excluded from the statistics to prevent the uncommon sale from pushing the average much higher than the median. A quick estimate of how active the Menlo Park real estate market is can be found by looking at the number of houses sold. Locally there is a strong seasonal change in the number of houses sold. The lowest number of houses sold typically occurs around December & January. The highest number of houses sold typically occurs around May. Price changes do not track the seasonal change in the number of houses sold.
Track your home’s value and compare it to nearby sales. Enhanced Cost of Living CalculatorNow includes childcare, taxes, health, housing for home owners vs renters, insurance costs and more when you upgrade to premium. The Willows scores really well in terms of transportation. Allied Arts scores really well in terms of transportation. Compared to only California, Menlo Park has a cost of living index that's 2.1x higher than California's index of 140. PropertyShark.com provides commercial market trend information on an "as is" basis for the user's personal use.
Quarterly Average Days On Market for Menlo Park Condos Sold
More condos being sold over list price is a very good indicator of rising demand for condos. More condos being sold under list price is a very good indicator of falling condo demand. The behavior of buyers and sellers can be somewhat different depending on the price of the townhouse. There are times when low to mid-range townhouses are selling quickly but higher priced townhouses aren't, or the reverse may be true.
Members receive 10 FREE city profile downloads a month, unlimited access to our detailed cost of living calculator and analysis, unlimited access to our DataEngine, and more. Linfield Oaks scores average in terms of transportation. Housing swings affordability the most between places in California, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations.
Menlo Park Real Estate Trends - Number of Townhouses Sold
The plots below show this relationship Menlo Park houses using color coding which generally highlights changes in the market. More Menlo Park homes being sold over list price is a very good indicator of rising home prices. More homes being sold under list price is a very good indicator of falling home prices. The average sales price of condos is typically affected by the average size of the condos sold. Looking at price per square foot gives a partial adjustment for changes in the typical condo sold.
A brand new Menlo Park home typically sells for a premium price compared to a similar sized home in the same neighborhood. When looking at average Menlo Park home prices, the average age should be checked to see if prices are changing because of demand or because different types of houses are being sold. Looking at the average lot size of houses being sold can provide additional insight into the Menlo Park real estate market.
Yearly Average and Median Menlo Park Home Prices of Houses
Homes in Menlo Park receive 2 offers on average and sell in around 19 days. The average sale price of a home in Menlo Park was $2.83M last month, down 5.8% since last year. The average sale price per square foot in Menlo Park is $1.3K, down 15.2% since last year. A cost of living calculator helps you to assess how much you will need to make in order to live comfortably in a specific city.
A quick estimate of how active the Menlo Park townhouse real estate market is can be found by looking at the number of townhouses sold. Locally there is a strong seasonal change in the number of townhouses sold. The lowest number of townhouses sold typically occurs around December & January.
The average homes sell for about 1% below list price and go pending in around 47 days. The average homes sell for about 1% below list price and go pending in around 28 days. The average homes sell for about 2% above list price and go pending in around 15 days. The average homes sell for about 1% below list price and go pending in around 19 days. Rounding up our list of top 10 cheapest neighborhoods to live in Menlo Park is Sharon Heights with a median home price of $1,298,869 and a median rent of $2,966.
The highest number of homes sold typically occurs around May. This seasonal variation is often altered for townhouse sales by a large new development beginning to sell their townhouses. Price changes do not track the seasonal change in the number of townhouses sold. When trying to understand Menlo Park townhouse prices the first and most often real estate statistic looked at is either average or median townhouse sale price.
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