Carol Carnevale • DRE# 00946687 • 650.465.5958
Nicole Aron • DRE# 00952657 • 650.740.7954
Over the years of working in Palo Alto, Menlo Park and surrounding communities we’ve become accustomed to a fast-paced market, multiple offers and rising prices. The years 2009-2011 were exceptions as our local market responded to the dramatic economic downturn in the Fall 2008.
The numbers are in for the first half of 2012 and we are happy to share good news about healthy and sustained market trends in our local communities. The information below reflects activity reported to the Multiple Listing Service for cities in San Mateo County and does not include a number of “quiet” sales that have occurred in some communities, principally Atherton, and Menlo Park.
Here are the results of the first half of 2011 compared to the first half of 2012.
Comparing the first half of 2011 to the first half of 2012, the number of sales in Atherton has increased from 32 to 39 and the Average Sales Price rose by about 12%. The highest sale to date in Atherton reported to the Multiple Listing Service was $21,750,000
The market in Menlo Park remains stable comparing year-to-date 2011 to 2012. The number of sales remained the same and the Average Sales Price increase slightly. The highest sale reported to the Multiple Listing in 2012 was $7,625,000.
The number of sales year to year has decreased. The first quarter was a slow start to the year but momentum picked up in the second half. The average sales price has risen about 10%. The highest sale to date reported to the Multiple Listing Service was $5,125,000.
The Woodside market has remained stable with the number of sales year to year staying even while the Average Sales Price dropped slightly. The highest sale year reported to the Multiple Listing Service was $6,325,000.
The busy market continued through July while the August pace has slowed down a bit.
We anticipate continued healthy activity for the remainder of the year.