The 2015 real estate market in Central Menlo started off very robust and continued through the spring market with the majority of sales closing prior to July when we began our summer slow down and then almost a halt due to the lack of inventory. We saw four homes sell over $6,000,000 which is an all time high for Central Menlo. The median sales price in Central Menlo is up 26% to $3,500,000 Central Menlo Medium Sales Price and you would be hard pressed to find a 10,000+ square foot lot under $3M. The number of closed sales was down just a bit to 42 from 2014’s 47.
