This past week saw Redwood City's average price per square foot jump over $1,000 for the 5th time this year. We had only one such week during all of 2016. To put things into perspective, just 3 years ago in 2014, our average price per square foot was under $700.
An inventory surge during the summer kept prices from growing out of control in 2016, but we have yet to see such a surge in 2017. Our current total of 36 active listings is less than half of our total on June 26th, 2016 (82). Competition for such a limited supply of housing has sent prices climbing much more dramatically this year.
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