Inventory is on its way back up, recovering 8 of the 12 listings that were lost over the 4th of July weekend.
Aside from a slightly elevated average days on market, our sales numbers continue to show up strong. 4 of the 8 sales that closed this past week, closed at $1,000/SF or higher - which is almost unprecedented for Redwood City real estate. Every now and then, very small homes (under 1,000 SF) hit abnormally high price/SF numbers, as there tends to be a price floor regardless of how small the home is. But this week, the highest price/SF was recorded on a 3 bed, 1 bath, 1,580 S/F home in Emerald Hills that sold for $2,100,000 - or $1,329/SF! That registers as the 10th highest sale in terms of price per square foot in the past 5 years.
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