In addition to the 9 sales that went pending last week, 4 listings were pulled off the market and 2 expired today. So despite the 9 homes listed for sale last week, our inventory actually dropped.
As an interesting side note - in the first 3 months of 2017, the average price per square foot for a single-family home in Redwood City was about $875. Our average for the past 3 months (Sep-Nov) is right around $1,000/SF. A nearly 15% increase in price per square foot over the course of less than a year makes it difficult to argue that the real estate market has cooled off (a common storyline at the beginning of the year). We'll see what 2018 has in store for us...
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