This is the second straight week in which the average Days on Market for closed sales was just 10, while inventory increased from the previous week.
When I started running these updates back in the beginning of May of last year, inventory hovered around the mid 30's to mid 40's. Unless we see a large spike in buyer activity in the next couple of weeks, it looks like we'll be cruising into the heart of the Spring season with a much stronger inventory than last year, as we're nearing the 60 mark here at the end of April.
On a side note, average sales price this week was skewed by one monster sale. A 5 bed, 4.5 bath/3,550 square foot mini mansion on Sequoia Avenue in Redwood City sold for $3,650,000. A bit of an anomaly in the Redwood City real estate market.
No comments:
Post a Comment