With still just over 20 homes for sale in Redwood City, the market is really struggling to replenish itself early in 2017. At the start of March of last year, our inventory had already risen to nearly 40 homes for sale.
From talking to buyers at my open house at 224 Hillview this weekend, I can tell that many are holding out hope for a Spring inventory surge. Multiple times I heard, "I'm thinking May", from buyers who either felt there chances of submitting a winning offer in this market were too slim, or there simply wasn't anything available that fit their needs. And it is true, when inventory is this low, a nicer home in a desirable neighborhood will receive A LOT of attention, and it can be difficult for buyers who are not very flexible on price/purchase terms to compete.
Spring does typically bring with it an inventory surge. Look to the end of March/beginning of April for things to really start to pick up.
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