A Sea of "For Sale" Signs?

Although it appears that much of Redwood City is for sale, the number of homes currently on the market isn’t unusual for this time of the year.  We can also see an increase in real estate activity across the board from first time home buyers to move-up buyers.  Here is a breakdown of the figures of what you will see driving through Redwood City (area numbers are from the San Mateo County Multiple Listing Service):

Area 330 – Redwood Village, Friendly Acres Area

There are currently seventeen homes for sale in this area, ranging from $239,000 to $625,000.  Two of the homes are bank owned properties and twelve are short sales.  The average price is $373,403 and the median is $339,999.  The average number of days on the market for current listings is 83 days.

Area 331 – Alphabet Streets, Areas Near Downtown

There are currently seven homes for sale in this area, ranging from $305,000 to $788,000.  One of the homes is a bank owned property and there is also one short sale.  The average price is $475,071 and the median is $395,000.  The average number of days on the market for current listings is 199.

Area 332 – Redwood Oaks Area

There are currently twenty homes for sale in this area, ranging from $389,000 to $1,875,000.  Two of the homes are bank owned properties and there is one short sale.  The average price is $771,365 and the median is $624,500.  The average number of days on the market for current listings is 81.

Area 333 – Palm Park, Central Park Area, Part of Roosevelt

There are currently twenty one homes for sale in this area, ranging from $350,000 to $1,085,000.  One of the homes is a bank owned property and there are nine short sales.  The average price is $617,697 and the median is $589,900.  The average number of days on the market for current listings is 106.

Area 334 – Mount Carmel, Oak Park, Part of Roosevelt

There are currently thirty homes for sale in this area, ranging from $499,000 to $3,595,000.  There are no bank owned properties but there is one short sale.  The average price is $1,285,385 and the median is $1,049,999.  The average number of days on the market for current listings is 71.

Area 335 – Farm Hills Area

There are currently fourteen homes for sale in this area, ranging from $570,000 to $2,465,000.  There are no bank owned or short sale homes.  The average price is $1,288,000 and the median is $962,000.  The average number of days on the market for current listings is 120.

Area 336 – Area Southwest of Alameda de las Pulgas and Emerald Hills

There are currently thirty homes for sale in this area, ranging from $464,500 to $2,288,000.  Two of the homes are bank owned properties and three are short sales.  The average price is $1,254,748 and the median is $1,199,000.  The average number of days on the market for current listings is 82.

Area 337 – Palomar Park Area

There is currently only one home for sale in this area, priced at $2,250,000.  This home has been on the market for 78 days.

OVERVIEW

Overall in Redwood City the statistics are as follows:

Total homes for sale: 140

Range: $239,000-$3,595,000

Average: $959,132

Median: $799,925

Days on Market: 92

Short Sales: 27

Bank Owned: 8