Despite periods throughout this year where homes were sitting on the market for about twice as long as 2015 averages, price per square foot has remained remarkably constant. The first quarter of this year our sales closed at an average of about $860/SF, and we have been hovering around that number ever since. Redwood City's property values have come a long way in the past several years. It wasn't long ago that our average price/square foot was consistently in the $600-700 range, while our neighbors in San Carlos were going for $800-900. Redwood City's recent development boom has served to nearly close that gap entirely. In fact, in Quarter 1 of this year we registered about $40 higher than San Carlos, a city that has long been held as one of the most desirable places to live on the peninsula.
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