14 new homes were listed in Redwood City last week - hopefully an indicator of things to come. Halfway through February and our inventory finally seems to be picking up with some consistency - albeit still rather sluggishly. For two weeks in a row our net supply of homes has increased by 5+, and although inventory is still below what it was this time last year, we are starting close the gap.
Despite this prolonged period of relative market inactivity, prices have yet to significantly cool off. January's average sales price of $1,288,875 is down from what it was in the tail end of '15, but still up from the previous January's average of $1,251,750. And February '16's current average of $1,491,077 is well above Feb '15's average of $1,350,072.
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