“Prime” west Menlo Park is the area of Menlo Park just “west” of downtown Menlo Park up to the the “county” area along the Alameda. Head out Santa Cruz Avenue away from El Camino and you will drive through prime west menlo.
Prime west Menlo Park was originally developed in the 1940 and 1950s after WWII. Good quality one story ranch homes ranging from 1800sf to maybe 2800sf were built on large 1/4 acre lots. A 1/4 acre lot is approx. 100′ x 100′ so about double the size of your typical 50′ x 100′ lot.
Many of the original homes are now being replaced by new high quality two story homes.
This area of Menlo Park is served primarily by highly rated Oak Knoll Elementary and Hillview Middle School.
Let’s take a look at how the west Menlo Park real estate home market has done over the past five years.
The average and median price for single family homes in west Menlo Park in 2009 was decreased from 2008.
Average price decreased 9.2% from $2,422,640 to $2,199,790.
Median price dropped 16.4% from $2,326,000 to $1,945,000.
As we can see, the upper end of Menlo Park was weaker than the more moderate price range market, something we see up and down the Peninsula. The lower level and mid price level within each city generally was a stronger market than the upper end.
The number of sales increased slightly - 41 in 2008 and 45 in 2009.
The number of homes sold in west Menlo Park increased slightly in 2009 but is still down significantly from the number of sales in 2005 and 2006.
The days of inventory chart below is striking - very low days of inventory in 2005, 2006 and 2007.
The days of inventory decreased in 2009 but is still higher than the days of inventory in 2005, 2006, and 2007.
To search for homes in west Menlo Park, just click here.
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