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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 in October 2023 versus September 2023:
The Number of SOLD listings increased by 26% to 34 properties, with a top sale of $7,300,000 million at 575 Oak Knoll Lane.
The Average Sales Price Increased by 2% to $3,464,824 million, moving the Average Price Per Square Foot down to $1,392 per square foot.
As measured in months supply, the inventory of properties available for sale decreased by 27% to 1.90 months’ worth of properties for sale.
The average 30-year fixed mortgage rate increased to 8.01%, according to Bank Rate.com.
If you’re considering buying or selling residential real estate, please get in touch with Gail.
