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 November 2023:
The Number of SOLD listings decreased by 19% to 29 properties, with a top sale of $5,800,000 million at 1056 Cascade Drive.
The Average Sales Price Decreased by 9% to $3,161,422 million, moving the Average Price Per Square Foot raised to $1,408 per square foot.
As measured in months supply, the inventory of properties available for sale decreased by 11% to 1.70 months’ worth of properties for sale.
The average 30-year fixed mortgage rate decreased to 7.41%, according to Bank Rate.com.
If you’re considering buying or selling residential real estate, please get in touch with Gail.