As expected, inventory dropped over over the holiday weekend, dropping our inventory of homes for sale from 82 to 70. I would expect us to recover most of that loss over the next week or two.
9 out of the 10 sales that closed last week were in either Mt. Carmel, Woodside Plaza, or Emerald Hills - which are among the hottest and most desirable locations in Redwood City. As such, our closed sales recorded some impressive numbers. Our average of sales price of $1,917,150 is very high for Redwood City, and usually at the higher price points you see listings sit on the market a bit longer. But the average of just 19 days on the market is right on track with what we have been seeing city-wide for a couple months now - a testament to just how in demand neighborhoods like Woodside Plaza and Mt. Carmel are, even at the higher price points.
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