I wouldn't put any stock into this week's sale numbers, as they reflect only 2 closed sales. Average days on market, average sale price, and sale to list ratio were all skewed far off the Redwood City average by the sale of 8 Woodleaf Ave, which was on the market for 89 days, and sold for $2893,500 after being listed originally at $3,247,000.
In other news, 8 new single-family homes were listed for sale last week, and inventory is beginning to inch back up towards the more robust number home buyers would like it to reach. At 19 active single family homes for sale, we are now on pace with inventory levels in 2016. If we continue to keep pace with 2016, inventory will stay on it's slow climb until it surges late winter/spring.
Stay tuned!
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