More homes went pending (12) than were listed for sale this week (10), which is never a good recipe for building up inventory. Fortunately, we're off to a strong start this week, with 4 homes listed for sale just a few hours into Monday.
Year to date in 2018, single-family homes in Redwood City have sold at an average of around 10% over their asking price. With an average sales price of over $1.8 million this year in RWC, that means homes are selling for around $180,000 over the asking price on average. Over the past two weeks (20 sales), we've been closing at about 3% over the asking price. While we see all sorts of variance in these numbers from week to week, this is a significant drop from what we've grown used to seeing this year, and perhaps representative of a slight pullback in buyer activity.
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