The 18 new homes listed this past week is the largest such weekly addition to Redwood City's inventory since the last week of August '15, when 22 new listings were added. This is a welcome sight, as inventory has been struggling to recover all year. This may jump start the market, because as hopeful buyers notice that there are more homes to choose from, they're likely to become more active in their search, thus driving up competition.
On a side note - the closed sales stats don't hold much weight this week. There were only 3 - one was on the market for 105 days. and another was our listing at 1771 Maryland Street which we sold off market for $1,468,000. When sales like Maryland are recorded, there is no list price (because it was never listed), so by default the list price is entered in as what it was sold for. Simply saying that Maryland listed at $1,468,000, and sold for $1,468,000 for a sales to list ratio of 100% would be a misrepresentation of the market forces that played out in the sale.
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