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Menlo Park Home Values - 4 Key Real Estate Trends For Condos - Feb 21, 2024

Silicon Valley Real Estate | JLee Realty

Home Values - Menlo Park Condos

Average and Median Home Price of Menlo Park Condos Sold

When trying to understand Menlo Park neighborhood home values for condos, the first and most often real estate trend looked at is either average or median condo sales price. The average price can be pushed up by a particularly expensive condo being sold. Much less often an especially low price for one or more condos can push the average price down. By looking at both average and median price a quick judgment can be made about any unusually high or low prices

Graph of the Quarterly Median and Average Price of Menlo Park Condos Sold

Price Per Square Foot for Menlo Park Condos Sold

The sales price of a Menlo Park condo is affected by its size. Looking at price per square foot gives a partial adjustment for differences between condos. Furthermore if you look at the average size of a Menlo Park condo sold you will see that it varies with time. Part of the variation is due to the random nature of which condos are being sold but the trend is for an increase in size with time because when a house is replaced with a newer condo, the newer condo is almost always larger.

Graph of the Quarterly Average Price Per Square Foot for Menlo Park Condos Sold

Sales Price vs. List Price for Menlo Park Condos Sold

Home buyers and sellers want to know the typical relationship between list price and sales price. This relationship varies with city and time. The plots below show trends for this relationship using color coding which generally highlights changes in the market. More Menlo Park condos being sold over list price is a very good indicator of rising condo prices. More condos being sold under list price is a very good indicator of falling condo prices.

Graph of the Quarterly Average Sales Price vs. List Price for Menlo Park Condos Sold

Number of Menlo Park Condos Sold

A quick estimate of how active the Menlo Park real estate market is can be found by looking at the number of condos sold. Locally there is a strong seasonal change in the number of condos sold. The lowest number of condos sold typically occurs around December & January. The highest number of condos sold typically occurs around May. Price changes do not track the seasonal change in the number of condos sold.

Graph of the Quarterly Number of Menlo Park Condos Sold