Monday, April 16, 2018

4/9/2018 - 4/15/2018

This past week in Redwood City sales - 12 single family homes sold at an average of $230,000 over the asking price in just 9 days on the market.  

This week in active listings - there are currently 28 single-family homes for sale in Redwood City, none of which are offered under $1 million.  The home with the lowest asking price is 3749 Florence, a small and outdated 2BD/1BA home in the Friendly Acres neighborhood, listed at $1 million even.  The home with the highest asking price in Redwood City is 7 Colton Court, a 7,700 square foot brick estate in Emerald Hills listed at $4,295,000.  That's quite a disparity between the high and low ends of Redwood City real estate.


Monday, April 9, 2018

4/2/2018 - 4/8/2018

Year to date in 2018, the average price per square foot for a home in Redwood City is $1,004.  Last year, weeks of sales registering at over $1,000/square foot were outliers, now they are the norm.  Yet another benchmark set for the Redwood City real estate market.

The average days on market this week are a bit misleading.  Only 5 sales closed, one of which was on the market for 67 days before selling.  Remove that home from the equation and the average days on market for the remaining 4 sales was 5 days.  


Monday, April 2, 2018

3/26/2018 - 4/1/2018

The average list price for a home in Redwood City is back above $2 million, with only one of the 34 homes currently for sale in Redwood City listed under $1 million (it's listed at $995,000).    

Our inventory is right on pace with 2017 levels, and has been for the past couple of months.  Last year, we saw an inventory surge in late April - we'll see if history repeats itself this year.  Stay tuned!


Monday, March 26, 2018

3/19/2018 - 3/25/2018

19 new listings last week only served to increase our inventory by 5 homes for sale.  This is because 5 of those 19 new listings were sold to all-cash buyers before the week's end, and an additional 8 sales went pending (there was also 1 listing withdrawn).

Inventory continues to cycle through the market quickly.  Last week's 7 closed sales were on the market for an average of just 7 days, and of the 32 single-family homes for sale in RWC, 18 have been on the market 7 days or less.  So while inventory remains low, the problem for buyers isn't necessarily a lack of opportunities, it is that the window of opportunity for each new listings has been very small.  Homes are often selling in the same week they are listed, so you have to be quick on your toes!  

For a full list of all homes for sale in Redwood City (or any other city), feel free to call anytime.  If there is a home you'd like to see, I'd be happy to contact the listing agent to schedule a showing. 

Camilo Perez - (650) 222-2327


Monday, March 19, 2018

3/12/2018 - 3/18/2018

Still only one single-family home for sale at under $1 million - the same 720 square foot 2BD/1BA home at 211 Alexander Avenue.  While that might be the lowest list price currently in Redwood City, it isn't necessarily the best value.   It is actually among the most expensive homes on the market in terms of price per square foot, at $1,215 per foot.  With just a 2,500 square foot lot, the potential to add value to the home is limited as well.  

Among the new listings last week, was a RealSmart listing at 2704 Roosevelt, a 2,200 square foot 4BD/3BA home for sale at $1,799,000 - or just $817 per square foot.  You can view the 3D walkthrough at www.2704Roosevelt.com


Monday, March 12, 2018

3/5/2018 - 3/11/2018

Last week saw an encouraging surge of new listings hit the market, as 17 single-family homes were listed for sale.  However, 3 of those are already pending sale, 2 already sold, and 8 other previously listed sales went pending, so our net increase in inventory was only 3 for the week.  Still, an encouraging sight for buyers nonetheless.

Here's a rather remarkable fact: among the 28 single-family homes currently for sale in Redwood City, the average list price is $2,001,419.  Only one home is listed under $1 million - that's 211 Alexander Ave, a 720 square foot 2BD/1BA house offered at $875,000.  We've had weeks where there have been just a few sales recorded and the average sale price rose above $2 million, but I don't recall a time that the average asking price of all the active listings in Redwood City broke that mark.  

Milestones continue to be checked off at an incredible clip in the Redwood City real estate market.


Monday, March 5, 2018

2/26/2018 - 3/4/2018

Redwood City's supply of single-family homes continues to move through the market quickly.  Of our 25 active listings, 13 have been on the market for 7 days or fewer (3 were listed today).  And despite a fairly steady stream of new listings coming on the market each week, our inventory hasn't seen any significant growth as buyers are snatching up homes as quick as they are listed.  That being said, our inventory is just about the same as it was this time last year.  It wasn't until the end of April 2017 that we started to see sustained growth.  We'll see what this spring holds.