7 new listings hit the market last week, which is an improvement from the 2 new listings we saw in each of the previous two weeks. However, there's a catch... 3 of the 7 new listings hit the market at over $2.5 mil, and two of them at over $3mil! In fact, just today another home was listed on Colton Court at $4,325,000 (not reflected in the below data since it listed after last week). Currently, 5 of the 15 listings active in Redwood City are priced at over $2 mil, which is a rather unusual trend for Redwood City. We should see luxury real estate's share in the Redwood City market dwindle in the coming weeks, as it is the $800-$1.7 million homes that make up the vast majority of our market (for now).
Snapshot of Redwood City's current $2 million+ market:
Real Estate Activity Report for the week of 1/9/17 - 1/15/17
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