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Prices Are Going Up

It's been nearly half a year before sellers have increased their listing prices.

For the first time in 6 months, there are more listings increasing their listing prices than properties lowering their listing prices.This shows demand for Redwood City properties

Other than that the market is almost the same as last week.  Short sales still outnumber REOs by over five times and that's where the bargain is. Most buyers try to avoid short sale.

Inventory levels remain low and there are only 16 new listings on the market this week.

No. of listings 112 No. of REOs (real estate owned, by a bank, government agency, etc.) 4 No. of short sales 22 No. of regular sales 86 No. of new listings last week 16 No. of listings has price increase last week 2 No. of listings has price decrease last week 1 No. of listings become pending last week 19 No. of property sold last week 7 Inventory level 2.07 months

Homes sold this week (data source from MLS Listings Inc. and the San Mateo County Recorder's Office):

Address Closing Sale Price Beds Baths (F|P) Estimated Square Footage 633 DOUGLAS AVENUE $230,000 2 1|0 810 698 3RD AVENUE $330,000 2 1|0 900 326 ELWOOD STREET $500,000 4 2|0 1,440 2034 WASHINGTON AVENUE $625,000 2 1|0 850 810 SOVEREIGN WAY,#1403 $710,000 2 2|1 1,650 2315 CHESHIRE WAY $811,000 3 2|0 1,495 1120 HARRISON AVENUE $990,000 3 2|1 2,100

Note: These statistics are generated using information from the MLSListings Inc. multiple listing service, but have not been verified and are not guaranteed. MLSListings Inc. disclaims any responsibility for the accuracy and reliability of these statistics. This information should not be relied upon for real estate transaction decisions.  Neither Patch.com nor MLS Listings Inc. guarantees the completeness or accuracy of the information.

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