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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 May 2024 versus April 2024:
The Number of SOLD listings increased by 63% to 49 properties, with a top sale of $9,700,000 million at 1221 Cotton Street.
The Average Sales Price decreased by 10% to $3,369,396 million, moving the Average Price Per Square Foot raised to $1,542 per square foot.
As measured in months’ supply, the inventory of properties available for sale decreased to 0.90 months’ worth of properties for sale
The average 30-year fixed mortgage rate decreased to 7.17%, according to Bank Rate.com.
If you’re considering buying or selling residential real estate, please get in touch with Gail.
