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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 Quarter 1 2023 VS Quarter 1 2024:
The Number of SOLD listings increased by 29% to 71 properties, with a top sale of $8,501,000 million at 2315 Crest Lane.
The Average Sales Price decreased by 14% to $3,022,102 million, moving the Average Price Per Square Foot up to $1,418 per square foot.
As measured in quarterly supply, the inventory of properties available for sale decreased by 15% to 1.10 quarterly worth of properties for sale
The average 30-year fixed mortgage rate increased to 7.01%, according to Bank Rate.com.
If you’re considering buying or selling residential real estate, please get in touch with Gail.
