Prices are trending down in Redwood City, as August and September have registered two of the three lowest months in terms of average sales price this year. September has registered the lowest average sales price of the year at just about $1.6 million flat. With inventory on the rise recently, it's no coincidence that these two trends would pop up at the same time. A steadily growing supply of homes for sale is bound to put downward pressure on prices, and it appears we're beginning to feel those effects.
All of this considered, the market is rife with opportunity for buyers. We have seen 59 new single-family homes listed for sale in Redwood City in just the past three weeks, and with prices down and days on market up, the playing field is gradually being shifted in favor of buyers.
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