Welcome to The Rossetti Realty Market Update.
If you’re considering buying or selling residential real estate, it’s essential to understand the current market trends.
According to MLS Listings, the marketplace for Menlo Park residential properties, here’s what happened on the 3rd Quarter in 2022 versus the 3rd Quarter in 2023:
The Number of SOLD listings increased by 1% to 77 properties, with a top sale of $11,100,000 million at 1205 Johnson Street.
The Average Sales Price increased by 5% to $3,353,321 million, moving the Average Price Per Square Foot down to $1426 per square foot.
As measured in quarterly supply, the inventory of properties available for sale increased by 13% to 2.70 quarterly worth of properties for sale.
The average 30-year fixed mortgage rate increased to 7.55%, according to Bank Rate.com.
If you’re considering buying or selling residential real estate, please get in touch with Gail.