Monday, March 12, 2018

3/5/2018 - 3/11/2018

Last week saw an encouraging surge of new listings hit the market, as 17 single-family homes were listed for sale.  However, 3 of those are already pending sale, 2 already sold, and 8 other previously listed sales went pending, so our net increase in inventory was only 3 for the week.  Still, an encouraging sight for buyers nonetheless.

Here's a rather remarkable fact: among the 28 single-family homes currently for sale in Redwood City, the average list price is $2,001,419.  Only one home is listed under $1 million - that's 211 Alexander Ave, a 720 square foot 2BD/1BA house offered at $875,000.  We've had weeks where there have been just a few sales recorded and the average sale price rose above $2 million, but I don't recall a time that the average asking price of all the active listings in Redwood City broke that mark.  

Milestones continue to be checked off at an incredible clip in the Redwood City real estate market.


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