Intero's Market Report
Menlo Park, CA
Single-Family Homes
Menlo Park, CA
Tue Jun 06 2023
This week the median list price for Menlo Park, CA is $4,395,000 with the market action index hovering around 55. This is less than last month's market action index of 62. Inventory has increased to 43.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.
Real-Time Market Profile
| Median List Price | $4,395,000 | |
| Median Price of New Listings | $3,499,000 | |
| Per Square Foot | $1,534 | |
| Average Days on Market | 60 | |
| Median Days on Market | 21 | |
| Price Decreased | 23% | |
| Price Increased | 2% | |
| Relisted | 14% | |
| Inventory | 43 | |
| Median Rent | ||
| Market Action | 55 | |
| Strong Seller's Market | ||
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $7,441,500 | 3,973 | 0.25 - 0.5 acre | 5 | 5.8 | 5 | 1 | 1 | 31 |
| $5,200,000 | 3,216 | 8,000 - 10,000 sqft | 5 | 4.5 | 8 | 1 | 0 | 35 |
| $3,600,000 | 2,513 | 6,500 - 8,000 sqft | 4 | 3 | 47 | 3 | 2 | 7 |
| $1,898,000 | 1,670 | 4,500 - 6,500 sqft | 3 | 2 | 69 | 2 | 4 | 14 |