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.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|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|
|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.
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|