Is Menlo Park, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Menlo Park has remained a Seller's Market.
Housing Prices in Menlo Park, CA
How much do homes in Menlo Park, CA cost?
Median Sold Price
$2,401,333
$1,401/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Menlo Park was $2,401,333 in April 2024, down 7.6% from last year, and the median price per square foot was $1,401.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $1.2M | $777.5K | -36.6% |
2 Bedrooms | $1.4M | $1.5M | +1.3% |
3 Bedrooms | $2.0M | $2.1M | +7.0% |
4 Bedrooms | $4.2M | $4.0M | -4.6% |
5+ Bedrooms | $5.5M | $5.3M | -2.1% |
Summary: Menlo Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.6%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes decreased by 2.1%.
Median Sold Price Compared To Nearby Cities
East Palo Alto | $955K | $985K | +3.1% |
Redwood City | $1.8M | $1.8M | +1.3% |
Atherton | $7.5M | $7.5M | -0.9% |
Palo Alto | $3.1M | $3.0M | -3.2% |
Menlo Park | $2.6M | $2.4M | -7.6% |
Housing Supply in Menlo Park, CA
How many homes are available in Menlo Park, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
84 | 110 | +31.0% |
Summary: The Menlo Park real estate market had 110 homes for sale in April 2024, a 31.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 15 | 16 | +6.7% |
3 Bedrooms | 25 | 31 | +24.0% |
4 Bedrooms | 25 | 37 | +48.0% |
5+ Bedrooms | 18 | 24 | +33.3% |
Summary: The Menlo Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 24%, 4 bedroom homes increased by 48%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
33 | 29 | -12.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Menlo Park in April 2024, down by 12.1% month-over-month. Of the 26 sold homes, 31% were sold under asking, 15% were sold at asking, and 54% were sold over asking.
Days on Market for Menlo Park, CA
How long does it take to sell a home in Menlo Park, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
34 Days | 12 Days | -62.5% |
Summary: Homes in Menlo Park had an average of 12 days on market in Apr 2024, down by 62.5% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 29 homes were sold in Menlo Park; 83% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.