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With all the hype & misinformation about bidding wars, I wanted to point out the following facts about homes that sold between Dec 1 and Feb 6 in Menlo Park (single family, West of 101 only).
22 sold for less than List price
- Median $147k under
- Avg $287k under
- 5 sold for at least $450k under
- 1 sold for $1.4m under
12 sold for at or over List price
- Median 80k over
- Avg $55k Over
- 1 sold for $278k over
And there is a pretty event distribution of behavior Dec vs. January.
ADDRESS SALE PRICE Sale vs. List Price
675 WOODLAND Ave 1,575,000 25,000
105 LAUREL Ave 1,065,000 (34,500)
442 GILBERT Ave 1,775,000 (20,000)
804 LAUREL Ave 1,010,000 12,000
247 ROBIN Way 1,115,000 117,000
2085 ADDISON Ave 290,000 10,000
8 SHASTA Ln 4,300,000 (450,000)
1110 CASCADE Dr 1,562,500 (86,500)
32 MAPLE Ave 1,455,000 157,000
1220 Carlton Ave 288,000 (62,900)
250 GLORIA 2,550,000 (48,000)
197 GREENOAKS Dr 3,050,000 (930,000)
1 FREDRICK Ave 3,025,000 (275,000)
1041 ALMANOR Ave 765,000 (10,000)
1048 SONOMA Ave 1,250,000 50,000
289 PARK Ln 6,500,000 (1,400,000)
169 TASSO St 1,727,500 128,500
1184 PALO ALTO Ave 5,445,000 (855,000)
4 CROCUS Ct 1,750,000 (248,000)
1875 CAMINO A LOS CERROS 2,850,000 (248,000)
2051 CAMINO AL LAGO 2,000,000 (188,000)
2011 MONTEREY Ave 1,475,000 (174,000)
2156 HARKINS Ave 1,195,000 (54,000)
1852 CAMINO DE LOS ROBLES 2,375,000 (20,000)
351 LELAND Ave 1,475,000 (20,000)
3135 ALAMEDA DE LAS PULGAS 858,500 -
2025 SANTA CRUZ Ave 920,000 31,000
1224 WHITAKER Way 3,850,000 (145,000)
1106 Carlton Ave 280,000 (9,000)
1045 COLLEGE Ave 3,300,000 (888,000)
660 HARVARD Ave #1 1,200,000 (150,000)
99 PRINCETON Rd 2,550,000 60,000
671 VALPARAISO Ave 1,290,000 92,000
95 YALE Rd 1,776,000 278,000
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Posted by MP, a resident of the Menlo Park: Downtown neighborhood, on Feb 13, 2012 at 6:07 pm In Palo Alto, single family homes - sold in January:
12 with sales price less than the List Price
- AVG $120k Under
17 with sales price equal or greater than List Price
- AVG $177k over
So yes, the market is crazy, but not as bad as that Facebook IPO article made it seem. Don't engage in bidding wars!
ADDRESS LAST SALE PRICE Dif from List
2030 PARK Blvd 1,400,000 (390,000)
554 KINGSLEY Ave 3,800,000 (200,000)
1220 HAMILTON Ave 2,035,000 (160,000)
1191 LAURELES Dr 1,170,000 (120,000)
959 OREGON Ave 1,199,000 (99,000)
1137 FOREST Ave 1,299,700 (98,300)
3170 ROSS Rd 1,515,000 (85,000)
3798 LAGUNA Ave 2,420,000 (78,000)
3726 CARLSON Cir 1,226,000 (62,000)
2220 BRYANT St 1,740,125 (54,875)
154 BRYANT St 2,700,000 (50,000)
434 FULTON St 950,000 (45,000)
= or Greater than List
3665 RAMONA Cir 1,489,000 -
2505 GREER Rd 1,200,000 2,000
2503 MARDELL Way 775,000 6,000
675 WOODLAND Ave 1,575,000 25,000
2340 DARTMOUTH St 2,850,000 55,000
99 PRINCETON Rd 2,550,000 60,000
873 LAVERNE Way 2,575,000 75,000
746 SAN CARLOS Ct 931,000 111,000
169 TASSO St 1,727,500 128,500
971 MADDUX Dr 1,361,000 166,000
976 ELSINORE Dr 1,498,000 200,000
3258 EMERSON St 2,000,000 205,000
185 WALTER HAYS Dr 1,655,000 257,000
1136 WEBSTER St 1,950,000 351,000
1670 Channing Ave 377,000
2928 BRYANT St 1,523,000 425,000
769 ROSEWOOD Dr 1,515,000 465,000
812 LINCOLN Ave 2,086,000 487,000
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| Posted by Anne, a resident of the Atherton: West Atherton neighborhood, on Feb 14, 2012 at 8:37 pm Thanks MP for your research,
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