The Menlo Park real estate market continues to reflect stability year-to-date, although some key market indicators have posted declines during the 3rd Quarter.
The graphs below reflect quarterly sales activity reported to the Multiple Listing Service (MLS) in Menlo Park since 2005.
For the first 3 quarters of 2011 there have been 285 sales, compared to 275 for the same period in 2010. The average sales price year to year has remained the same at around $1,285 million. The 3rd Quarter of 2011 shows declines in both the number of sales and the average sales price.
Another market indicator that shows signs of stability is the Average Days on Market reflecting remarkable improvement over the past few years, although it has been creeping up during the 3rd Quarter. The sales price to list price ratio has been hovering between 99% – 100% for most of the year, but decreased during the 3rd Quarter. xgeneve.ch
Overall, however, the market remains stable.