We had only 7 new listings this week of single family homes as oppose to 11 listings last week. 18 houses changed status to pending as oppose to 14 the week before and 6 closed escrow the same as the week before.
The inventory is slightly better. Our market activity is directly connected to the number of new listings that comes on the market each week; if we were to have more listings coming on the market we would sell more houses.
New listings are selling within one week. Multiple offers on most of the listings is the norm. All listings b that closed escrow this week sold significantly above the asking price confirming a strong market for the year
The inventory is very low. The market remains a strong seller market
If you are thinking about selling your home, it is a great time to sell, contact me to help you establish a plan to sell your home.
Following is the detailed market activity for Menlo Park:
Active : 7