The average days on market for our 16 closed sales this week was nearly a month. Keep in mind, these are listings that came on the market at a time when inventory was peaking at over 80 homes for sales in Redwood City. The spike in supply could have impacted their time on the market. That being said, the average age of our active inventory right now is 38 days, with 30 of our 69 homes for sale having been on the market a month or longer.
Despite sitting on the market for longer periods of time, prices still look to be strong. This weeks 16 sales closed at an average of almost $50k over their original list price. The interest is there, but the plentiful inventory has allowed buyers to take more time in their search.
No comments:
Post a Comment