Menlo Park home sale prices doubled from 2007 to 2017
Real estate data provider PropertyShark finalized an analysis of Silicon Valley’s housing market, looking at how median sale prices have changed compared to a decade ago, when most areas hit their pre-recession peak.
In 2007, the median sale price in Menlo Park was just a little above the $1 million mark. Compared to a decade ago, prices have almost doubled, amounting to a $1 million price difference – the median sale price in Menlo Park so far in 2017 being $2,050,000.
Here are some other highlights from the study:
- Atherton is Silicon Valley’s most expensive town – the median sale price here hit $5.1 million so far this year
- Los Altos Hills is the second most expensive town and recorded the highest increase, adding $1,725,000 since 2007
- Median sale prices in Mountain View and Menlo Park have doubled since 2007
We asked Louise DeDera of Alain Pinel in Menlo Park if she knew what the highest price home ever sold in town was and she reported: “A property on Robert S Drive sold for $10,500,000. That is a very special street with larger lots. It sold off market.”
And don’t think it’s just recently-constructed mini-mansions that are driving up the prices, the recently remodeled rancher pictured on Santa Margarita Ave. just hit the market with an asking price of $4,998,000.