Let’s take a look at the condominium market in Menlo Park, California.
Many of the condominiums in Menlo Park are located in Sharon Heights with the balance near downtown or the Civic Center/Burgess Park area.
The number of condominiums sold in Menlo Park decreased steadily during 2008 but then increased in spring 2009. The number of condo sales in Menlo Park has stabilized at about 5 per month since June 2009 - similar to the trend seen in San Carlos.
In early 2009, days of inventory for condos in Menlo Park was a very high 600 to 700 - meaning there were lots of condos and townhouses for sale with very few sales. Days of inventory dropped in June 2009 and has stabilized at a still very high 180 days on market. Typically about 90 days of inventory is considered a balanced market. So clearly it is still a strong buyers market for condos in Menlo Park.
The number of Menlo Park condominiums sales year to date has dropped from a high of about 90 in 2006 to the current number of about 42.
The average sales price to list price for Menlo Park condominiums has increased about 92% in early 2009 to about 96% currently.
To search for Menlo Park condominiums and townhouses, click here.
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