Menlo Park, CA Real Estate Listings & Homes for Sale

In October 2024, Menlo Park home prices saw a significant increase of 15.8% year-over-year, with a median sale price of $2.7 million. However, homes are taking longer to sell, with an average of 27 days on the market compared to just 13 days in October 2023. This shift indicates a slight cooling in market pace despite the rising prices. Additionally, the number of homes sold dropped to 26 this October, down from 29 last year, reflecting a potential decrease in inventory or buyer activity. This combination of trends suggests that while demand remains strong enough to drive up prices, buyers may be exercising more caution or facing limited options.

Menlo Park's housing market remains highly competitive, with homes typically selling within 24 days. Many properties receive multiple offers, often with contingencies waived to stand out in this fast-paced market. On average, homes sell for about 2% above the listing price and go pending in around 24 days. In contrast, "hot" homes—those in high demand—can sell for as much as 7% above the listing price and go pending in just 11 days, reflecting the intense competition for desirable properties in the area.

As of November 2024, Menlo Park, CA, is a strong seller's market, characterized by a higher number of buyers than available homes. This imbalance in supply and demand often leads to competitive bidding, faster sales, and rising home prices, making it an advantageous time for sellers in the area.