Nestled in between San Jose, Palo Alto, and San Francisco,Redwood City you can find Menlo Park, California. Along the San Francisco Bay,it is surely one of the finest areas of California to settle down in its nineteen square miles of upscale, tree-lined neighborhoods. Next to many amenities such as the Stanford Shopping Center and the pedestrian-friendly Downtown shops areas and numerous parks, these affluent neighborhoods offer some of the finest real estate in modern homes available.With the corporate offices of high technology companies in the area such as Facebook, the SLAC National Accelerator Laboratory and Apple in Palo Alto and others, this area is very much oriented to the professional, technology savvy clientele. The acclaimed Stanford University is also located here offering unequaled opportunity in higher education. The prestigious Stanford Medical Center is also available nearby and one of the country’s top medical facilities.
While many areas of the country are taking losses in the building and real estate industry in the current economy, such as Florida and Arizona which are plagued with foreclosures, Menlo Park has had an increase in home values. Over the last year alone the jump has been over seventeen percent in a rise in home values with it being expected over the next year to continue to over another seven percent. In January 2006 the value of a home being $1.17 million fluctuated back and forth until about April of 2012 to remain the same. However, the market continued to rise drastically from April 2012 to present.However the boost in price comes from the limited availability of properties actually coming to market. Many investors from as early as 2005 have held tightly on to these properties and with great patience. When Facebook went public in 2012, it created a surge in the area of demand for housing to these clients. With few of the houses actually coming to market to meet demand, the relative prices only grew.
This makes for an opportune time for real estate investment in these gorgeous properties. Currently, with the median price of homes at about $1,896,600, these homes are certainly excellent investment properties. Ending the last week of July 2015 the average price on home listings via Trulia was $2,048,000 and the average price per square foot for Menlo Park real estate was $1,176. This is an appreciable jump from in 2000 when the average per square foot cost was $392.
One set of currently listed apartment homes in the Menlo Park area that are 2 bedroom, 2 bath and about 1100 square feet are currently renting for $4680 per month. If that’s a bit out of one’s budget, an 810 square foot apartment home that is a 1 bed room , 1 bath will only set you back about $3646 per month.
If you need alot more space than that, a 5 bedroom – 6 bath, 5108 square foot single family home can be found for a tidy $5,695,00 in the West Menlo Park area. It’s only minutes from the various hospital , university, stadium and all things Stanford.
With all this said, Menlo Park homes can be found starting for under $500K. But these rare finds will usually be older homes that possibly need extensive work and the prices really just reflect relative land value. Learn more about us here.