How has the Menlo Park market done during the first six months of this year? Sometimes appearances are different from reality. We may drive down the street in various neighborhoods and think that sales are booming. We see a lot of for sale signs and come to all kinds of conclusions. Some right, some wrong.
That's the beauty of a graph! This first graph is showing where in relation to the list price is the sale price for single family homes sold in Menlo Park CA for the first six months of 2011. The information is broken down by neighborhood. You can see that in the Willows/O'Connor area, the sale price is over asking by about 2%. This neighborhood is often featured in my blogs that talk about homes you can find that are under $1 million. What else does this tell you about the sales? Most of them have received multiple offers.
The other neighborhood is the Flood Park area. For our purposes, Flood Park also includes the Suburban Park neighborhood. These two neighborhoods are similar in that you can find a home for less than $1 million, and they are in the Menlo Park City School District. These schools are highly rated.
The next graph is showing the median price for homes in Menlo Park by neighborhood. Often times we get information regarding the real estate market from national sources. We read that information and get anxious about the market. This is an opportunity to compare what you hear about the market from national media sources to what our Menlo Park market is all about.
Marge Draper, REALTOR
KELLER WILLIAMS REALTY MENLO PARK