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Business & Tech

Inventory Level is Low

Your weekly Redwood City real estate market snapshot.

Eddie Lam, Neighbor
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The number of listings in Redwood City continues to drop to about 60 percent of the average listings in the fall, which causes the inventory level to drop to less than a two months' supply.

In the meantime, buyers are not slowing down; the number of properties that went pending last week is 11.

The California Association of Realtors (CAR) has reported an increase in home sales in November in both the monthly and annual basis, marking the fifth consecutive month of year-to-year sales increases.

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All these factors indicate that we might have a strong spring rally.

No. of listings 103 No. of REOs (real estate owned, by a bank, government agency, etc.) 5 No. of short sales 22 No. of regular sales 76 No. of new listings last week 2 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 11 No. of property sold last week 22 Inventory level 1.82 months

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

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Address Closing Sale Price Beds Baths (F|P) Estimated Square Footage 2930 CURTIS AVENUE $270,000 3 1|0 960 40 PELICAN LANE $323,000 1 1|0 1,170 888 BOARDWALK PLACE $360,000 2 1|0 775 841 PORTWALK PLACE $400,000 2 2|0 850 1226 HUDSON STREET $410,000 2 1|0 840 636 POPLAR AVENUE $450,000 3 1|0 1,400 944 JOHNSON STREET $462,000 2 1|0 900 540 SHOREBIRD CIRCLE,#21101 $468,000 2 2|0 1,413 1620 VERA AVENUE $470,000 3 2|0 1,400 1287 CROMPTON ROAD $615,000 3 1|0 980 270 JETER STREET $760,000 2 1|0 1,020 1907 KENTUCKY STREET $800,000 3 2|0 1,810 530 OSPREY DRIVE $810,000 3 2|1 1,550 1745 VIRGINIA AVENUE $840,000 3 2|1 2,040 515 KEELSON CIRCLE $976,828 4 2|1 2,280 3089 GOODWIN AVENUE $989,000 4 3|0 1,790 15 ALVERNO COURT $1,100,000 2 2|1 2,510 20 BENNETT ROAD $1,185,000 3 2|1 3,200 3836 HAMILTON WAY $1,250,000 4 3|0 2,260 214 CERRITO AVENUE $1,428,500 5 3|0 2,935 621 LOMBARDY WAY $1,750,000 5 3|1 3,692 3019 OAK KNOLL DRIVE $1,925,000 4 4|1 3,200

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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