Menlo Park, CA – August 2009 Home Sales Statistics

by cindy ~ September 12th, 2009 ~ Menlo Park, Statistics, Uncategorized Comments (81)
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In August (2009) only 19 homes sold in Menlo Park, CA.  Seven less sales of single family homes then in July of 2009.  The Average Sales Price (ASP) of a home in Menlo Park in August was $1,563,026 versus $1,395,596 in July 2009.  New listings and Current Inventory were down in August – not good news for buyers that have been waiting to make a purchase in this wonderful city.  The Percent of List Price received for a home in Menlo Park was down in August to an average of 96.89 versus 97.13 in July 2009.  The area of “Central Menlo Park” continues to have the highest ASP which was $2,371,500 in August – up $200,000 since July 2009.  The lowest priced area continues to be the Fair Oaks Avenue area down to $610,000 in August versus $700,000 in July 2009.  NOTE**, I have removed East Menlo Park (the area east of Route 101) from the statistics since that area has a high number of foreclosures and short sales that incorrectly effects the ASP for the majority of Menlo Park sales. 

The most expensive home sold in August in Menlo Park was on Santa Cruz Avenue: a 4,120+/- square foot home with 6 bedrooms and 4+/- baths on a 21,109+/- square foot lot that sold for $3,475,000.  The lowest price home sold on 14th Avenue for $550,000 – a 3 bedroom, 1 bathroom 1,440+/- square foot home on a 5,350+/- square foot lot.

See below for the sales in Menlo Park by area for July and August 2009:

Buyers, if the trend above continues – higher ASPs with less inventory and new listings available, now is the time to buy!  Interest rates are still low but the loan process is taking much longer than before – so be prepared.  You can celebrate the holidays in your new home – if you buy soon.