Our average days on the market for closed sales dropped down to single-digits for the second time in 4 weeks - what does this tell us? Well, nothing we didn't already know. Much like the rest of the peninsula, Redwood City has become a very desirable market, and our inventory hasn't shaken off the winter chill as quickly as buyer activity has. When buyer activity grows faster than inventory does, we're bound to see that average days on market number drop.
Today marks the first day of Spring, which is typically among the most busy times of year for the real estate market - for both buyers and sellers. Historically, the end of March through April is a time of year when new listings start to hit the market with much greater frequency. We already saw a mini surge in inventory this past week - we'll see if this trend continues to bear out in the coming weeks. Stay tuned!
No comments:
Post a Comment