It is informative to look at the median price per square foot as well as the more commonly reported median and average price statistics.
Below you will find chart indicating median price per square foot for single family homes in San Carlos Menlo Park and Palo Alto:
In general, the median price per square foot declined in 2008 for all three cities - San Carlos, Menlo Park, and Palo Alto.
San Carlos median price per sqaure foot dropped from about $640/sf to $580/sf.
Menlo Park median price per sqaure foot dropped ever so slighyly from $680/sf to $675/sf.
(Please note Menlo Park data includes Belle Haven neighborhood east of Highway 101 where property values are much lower than in the Menlo park areas west of Highway 101)
Palo Alto median price per square foot dropped from about $925/sf to $860/sf.
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