For two weeks in a row now, our average sales price has come in under our average list price. Also, despite another week with more new listings than pending sales, our inventory dropped due to 7 cancelled, expired or withdrawn listings. I don't want to read too much into these trends, as there is typically always some sort of market shift this time of year. that being said, this market shift has been the culmination of the past 2+ months of market activity. Things have been slowing down for just about a full quarter now, and we likely won't know until Spring '19 if there will be any sort of rebound.
The market slowdown has been a welcome sight for buyers. For the first time in years they are seeing the playing field begin to tilt in their favor. The 65 single-family homes currently for sale in Redwood City have been on the market an average of 47 days, and many of those sellers are likely mulling over a price reduction with their agents. The Redwood City real estate market is rife with opportunity for buyers right now
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