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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.
Increasing DOM implies buyers are not being as competitive to buy condos. Seasonal variation in this statistic can make it difficult to use this statistic to predict either rising or falling condo prices. Menlo Park townhouse buyers and sellers want to know the typical relationship between list price and sales price.
Monthly Maximum Menlo Park Price of Houses Sold
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.
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.
Quarterly Minimum Menlo Park Price of Townhouses Sold
Can sell for about 7% above list price and go pending in around 8 days. Can sell for about 2% above list price and go pending in around 11 days. The median household income in a city certainly helps gauge the cost of living.
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.
Monthly Average Size of Menlo Park Houses Sold
On average, homes in Menlo Park sell after 22 days on the market compared to 12 days last year. There were 22 homes sold in November this year, down from 51 last year. Are you planning a move to Menlo Park, CA and wondering if it is an expensive place to live in? A brand new condo typically sells for a premium price compared to a similar sized condo in the same neighborhood.
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.
Recently sold homes
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 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.
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.
Builders try to match what they build to what is selling well. It can take several years for a townhouse development to begin selling but it was surely built to target expected demand. Looking at the average size of townhouses being sold can provide additional insight into the townhouse real estate market. Many people look at "Days On Market", the average number of days a house is offered for sale before it sells, to spot changes in the Menlo Park real estate market. Increasing DOM implies buyers are not being as competitive to buy homes. Seasonal variation in this statistic can make it difficult to use this statistic to predict either rising or falling house prices.
This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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.
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