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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 Mid Year 2023 versus Mid Year 2024:
The Number of SOLD listings increased by 29% to 182 properties, with a top sale of $ 12,000,000 million at 842 Hermosa Way.
The Average Sales Price decreased by 3% to $3,378,394 million, moving the Average Price Per Square Foot down to $1,481 per square foot.
As measured in months’ supply, the inventory of properties available for sale decreased to 1.40 months’ worth of properties for sale
The average 30-year fixed mortgage rate increased to 7.02%, according to Bank Rate.com.
If you’re considering buying or selling residential real estate, please get in touch with Gail.
