Today's blog takes a look at average sales price data for both the Allied Arts/Downtown area of Menlo Park and the Willows/O'connor area of Menlo Park. This data is pulled from Multiple Listing sales data and does not reflect any sales that may not have been reported to the MLS. It is based on single family home sales.
The Willows/O'conner area had an average sales price of $1,278,000 in December 2007. In December 2008, the average sales price was $1,118,000. This data indicates a 13% adjustment from December 2007 to December 2008.
The Allied Arts/Downtown area had an average sales price of $1,551,000 in January 2008(no sales data reported for December 2007). In December 2008, the average sales price was $1,228,000. This data indicates a 21% adjustment from January 2008 to December 2008.
It is important to note that average sales price data can be dramatically impacted by sales of larger more expensive luxury homes in any given month.
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