Community Corner
Home Sales Are Up, but Prices Are Down
Your weekly Redwood City real estate market snapshot.
The Redwood City real estate market is about the same as last week, the major change is the number of new listings has gone down to 15 this week, a 37.5% drop compare to last week.
According to data from the California Association of Realtors® (C.A.R.) California home sales rose for the third consecutive month in December. Sales also went up from a year ago, marking the sixth consecutive annual increase.
However, the price went down in both San Mateo County and San Francisco County in December (please see the second chart below).
Find out what's happening in Redwood City-Woodsidewith free, real-time updates from Patch.
Nonetheless, inventory is still tight, with inventory level around two months in Redwood City. (in a normal market, there is usually six to seven months of inventory).
No. of listings 118 No. of REOs (real estate owned, by a bank, government agency, etc.) 5 No. of short sales 27 No. of regular sales 86 No. of new listings last week 15 No. of listings has price increase last week 1 No. of listings has price decrease last week 8 No. of listings become pending last week 13 No. of property sold last week 11 Inventory level 2.16 months
Find out what's happening in Redwood City-Woodsidewith free, real-time updates from Patch.
December 2011 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)
Dec-11 Median Price of Existing Single-Family Homes Sales
State/
Region/
County
Dec.
2011
Nov.
2011
Dec.
2010
MTM%
Chg
YTY%
Chg
MTM%
Chg
YTY%
Chg
California
Single-
family
(SAAR)
$285,920
$280,960
$304,770
1.80%
-6.20%
3.30%
0.10%
California
Condo/
Townhomes
$225,270
$224,720
$240,970
0.20%
-6.50%
13.80%
1.50%
San
Francisco
Bay Area
$455,750
$467,680
$495,520
-2.60%
-8.00%
6.30%
-1.40%
San
Mateo County
$595,000
$735,000
$699,500
-19.00%
-14.90%
2.80%
-9.70%
Homeowners whose primary residence was forclosed between 2009 and 2010 and believed they were financially harmed during the process can request an independent review and potentially received financial compensation. For details, please go to http://www.independentforeclosurereview.com/
Homes sold this week (data source from MLS Listings Inc. and the San Mateo County Recorder's Office):
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.
