Menlo Park: Inventory Update

According to the most recent Dataquick statistics, Menlo Park only had 12 home sales for all of February, which seems startlingly low. More surprising is that the average sale price was $967,500, up 8.1% over last year. This town just seems to be bucking the trend, so I thought I would take a peek at what was currently available.

Current inventory is ten times the number of sales in February, with 120 homes on the market. About 50% of those (64) are under the $mil mark, primarily due to homes on the east side. While there are 19 homes in this price bracket between El Camino and Highway 101 and another 35 east of Highway 101, there are only 10 on the more desirable west side. In the mid-range of $1,000,000 to $2,000,000, there are 34 homes, and another 22 homes are listed over the $2mil mark.

The lowest-priced property at $366,000 is located at 1105 Almanor Avenue (2/1, 890 sf, DOM: 16), while at the other end of the spectrum is a $5,275,000 home under construction near Sharon Heights. Of the 120 homes, 43 came on the market in the last 2 weeks, with a total of 64 in the last month. Thirty-four have been on the market 31-90 days, and 22 have been sitting for over 90.

Here are the 10 homes that are available west of the El Camino in Menlo Park:

971 Menlo Avenue, 1/1, 1,060 sf, $762,500 DOM: 24
Large one-bedroom townhouse a block from downtown Menlo Park. Located in a 15-unit complex that is 20 years old, with HOA dues of $479.

905 Menlo Avenue, 2/2, 1,170 sf, $889,000, DOM: 47
the most expensive of the bunch, this is a very nice condo in a Spanish-style 4-unit building, also located one block away from downtown. Very well maintained with classy upgrades, this is he favorite of the bunch. HOA: $175.

3863 Alameda de las Pulgas, 3/1, 1,250 sf, $799,500, DOM: 2
The only SFR on the list, this is a fixer-upper located near the Santa Cruz Avenue intersection. Busy street, but most of the homes in the immediate area are larger and in better condition.

2333 Sharon Road, 2/1, 1,075 sf, $640,000 DOM: 94
Condo in the 40-year-old Sharon Glen development. Reduced $20,000 since listing on December 29th.

675 Monte Rosa #811, 2/2, 1,097 sf, $629,000 DOM: 23
Vacant first floor, end unit near Sharon Heights Shopping Center. OPEN Sunday 1:30-4:30 pm

675 Sharon Park #203, 1/1, 739 sf, $439,000 DOM: 76
Small condo in the 40-year-old Lincoln Green development. $57,000 price reduction. Open Sunday April 6th from 1:30-4:30pm.

675 Sharon Park Drive #108, 1/1, 739 sf, $449,000, DOM: 9
First floor unit with new carpet.

675 Sharon Park #203, 2/2, 1,020 sf sf, $597,000 DOM: 23
Vacant, top floor, end unit. Already lowered $32,000 since listing March 10th.

675 Sharon Park #219, 3/2, 1,286 sf, $795,000 DOM: 19
Large end-unit condo with view of the hills. OPEN April Saturday 5th and 12th 1-4pm, and Sunday 6th and 13th 1:30-4:30pm

675 Sharon Park #237, 2/2, 986 sf, $639,000 DOM: 51
Good thing there is a virtual tour available, as the listing photos need to be viewed with a magnifying glass. Top floor unit that last sold in 2005 for $515,000.