The prices in real estate in Menlo Park, in the California region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Menlo Park has had a strong decrease during the last 6 months. In February, the average price per sq.feet was $1,977. In March this price pretty much remained the same at a value of $1,942 per sq.feet. The price for the following two months in (April, May) had a considerable decrease of 63 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 79 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $1,600 to $1,260 during June, and July.
Based upon to the price in Menlo Park (cities), this has gone up in the last 6 months. In our first sample month during February, the average price is $2,387,251. In March This price remains at $2,287,361. During the following two months (April, May) the price has had an average incrementation from $2,337,306 to $2,522,311. Based on an analysis of the first four prices and the last two months the average price has gone up 110 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $2,582,705 they are 2 % more affordable than the average price for Menlo Park. The properties with the highest average price have 4 bedrooms, Their price is 17 % more costly than the average. After that we have properties with 1 bedroom priced at $2,526,340.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the most costly ones at a cost of $1,251 / sq.feet, with an average $1,242 / sq.feet price in Menlo Park. The properties with the highest average prices have 1 bedroom. They are 93 % more expensive than the average followed by properties with 4 bedrooms with a price at $1,251 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of $2,582,705 it is 20 % cheaper than the average price in Menlo Park. "Townhouse" is seen as the second most affordable property type. The cheapest type property is "Detached House" followed by "Townhouse". At a price of $2,495,052 it is 3 % more affordable than the average price.
According to the average cost per sq.feet, the most expensive property type would be "House" at an average cost of $1,484 / sq.feet followed by "Detached House" priced at $2,388 / sq.feet. "Townhouse" is the most costly type of property with a $4,968 / sq.feet cost followed by "Detached House" with an average price of $2,388 / sq.feet.