Menlo Park Homes and Real Estate Sales
The Menlo Park real estate market is diverse in terms of housing prices and styles. There are also a variety of neighborhoods, some under the jurisdiction of the County of San Mateo, while others are incorporated within the City of Menlo Park; and there are five different public school districts that serve Menlo Park. When considering the purchase or sale of a home in Menlo Park, it’s important to understand these nuances and how they affect property values and quality of life.
With over 30 years each of residential sales experience, all of it actively working in Menlo Park, we are uniquely qualified to share insights so that you are prepared to make informed decisions about the purchase or sale of a Menlo Park home.
Real Estate Market Facts
Single Family Homes
Some key Menlo Park market indicators based on Multiple Listing Service are as follows. The chart compares YTD statistics Q3 2018 to Q3 2019.
January- September 2018 | January-September 2019 | Change | |
---|---|---|---|
Number of Homes Sold | 222 | 250 | +12.61% |
Median Sale Price | $2,600,000 | $2,407,500 | -7.40% |
Average Days on Market | 21 | 25 | +4 Days |
Sale Price to Original List Price Ratio | 108.3% | 100.8% | -7.5% |
Condominiums & Townhomes
Condos and townhomes are located throughout the city and offer an option for those who prefer more maintenance-free home ownership. Multiple Listing data reports the following comparing YTD Q3 2018 to YTD Q3 2019:
January- September 2018 | January-September 2019 | Change | |
---|---|---|---|
Number of Units Sold | 67 | 53 | -20.9% |
Median Sale Price | $1,600,000 | $1,584,000 | -1% |
Average Days on Market | 16 | 30 | +14 Days |
Sale Price to Original List Price Ratio | 108.0% | 98.6% | -9.4% |
By most measures market trends are down comparing 2018 to 2019, however, when evaluating residential real estate it is essential to take a long view. Ten years ago in 2009 the Median Sale Price for a Menlo Park home was $1,097,500, and for a condominium/townhome it was $755,000.
If you would like an accurate assessment of value of your Menlo Park property, or if you would like to discuss whether this is the right time to make a purchase, we invite you to contact us. It would be a pleasure to be of service to you.
Quality of Life
Menlo Park is an idyllic community with something for everyone which is why so many people love to call this city “home”! Here are some of the community distinctions:
- A current creative initiative within the City of Menlo Park is known as “Menlo Park Loves Kids”, built on the work of a group of parents with students at Hillview Middle School. The program encourages businesses and organizations to show their support for community youth so that all kids feel safe and welcome.
- The Menlo Park Elementary School District and the Las Lomitas Elementary School District are among the most outstanding Bay Area public elementary school districts.
- Home to some of the Bay Area’s finest private schools including Menlo School, Phillips Brooks, Sacred Heart, Saint Raymond’s and Nativity.
- Prominent venture capital firms and proximity to Stanford University attract some of the world’s most entrepreneurial people.
- Picturesque tree-lined streets provide the backdrop for well-maintained homes.
- Beautiful city parks including Bedwell Bayfront Park with access to the Baylands and Burgess Park with its skateboard area, the Arrillaga Family Recreation Center and the Burgess pool.
- Community traditions like Summer Concerts in the Park, Connoisseur’s Marketplace, and the Sidewalk Fine Arts Festival.
- Food Truck Night at the Willows Market brings out the community.
- A downtown of just a few blocks with everything you need: grocery stores, pharmacy, restaurants, hardware store, a spice store and even a touch of Paris at Mademoiselle Collette!
- Home of Facebook!
Contact us to put our knowledge and creativity to work for you!