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 January 2024 versus December 2023:
The Number of SOLD listings decreased by 7% to 13 properties, with a top sale of $6,000,000.00 million at 120 Royal Oaks Court.
The Average Sales Price Increased by 17% to $3,459,923 million, moving the Average Price Per Square Foot down to $1,408 per square foot.
As measured in months supply, the inventory of properties available for sale increased by 169% to 3.50 months’ worth of properties for sale.
The average 30-year fixed mortgage rate decreased to 6.84%, according to Bank Rate.com.
If you’re considering buying or selling residential real estate, please get in touch with Gail.