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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 Year 2024 versus 2023:
The Number of SOLD listings increased by 16% to 347 properties, with a top sale of $13,750,000 million at 1170 May Brown Avenue.
The Average Sales Price increased by 1% to $3,417,296 million, while the Average Price Per Square Foot rose to $1,484.
As measured in months supply, the inventory of properties available for sale decreased by 20% to 1.20 months’ worth of properties for sale.
The average 30-year fixed mortgage rate increased to 7.04%, according to Bank Rate.com.
If you’re considering buying or selling residential real estate, don’t hesitate to contact Gail.
