With two consecutive weeks of 20+ new listings in Redwood City, we're now at nearly 80 single-family homes for sale. This puts us at a 2-year inventory high, and presents home buyers with significantly more opportunity than they have grown used to. Even though it hasn't shown in our weekly statistics yet, I would expect this inventory spike to lead to homes sitting on the market for an addition open house or two, as competition among buyers is spread more thinly. You can already see signs of this trend, as the 79 single family homes currently for sale in RWC have been on the market an average of 31 days.
Stay tuned!
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