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Health & Fitness

Market Trends: Redwood City Real Estate, Feb. 15, 2013

Cliff Keith has raised his family in Redwood City. He's been a member of City commissions and committees, and helping homeowners and buyers with their real estate needs, since 1976. Combat Veteran.

The Spring real estate market is starting off on a flat note, and it doesn’t look like it’s going to move up until after the three-day holiday weekend.

All numbers for Redwood City real estate are flat for the past seven days; Redwood City homes coming on the market for sale stayed at 14.

The housing months of inventory available in Redwood City decreased this week to 4.2 months. This is good if you are a home seller because there is less of a selection of homes to choose from for the many home buyers in the market place. I think you will see this continue in 2013.

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The average selling price for homes sold in Redwood City jumped this past week to $1,100,000 from the previous week's price of $806,000.

The total number of new listings, and homes that were added to the choices available to home buyers from transactions falling out of escrow, was 20.  The number of homes with pending sales, or that had removed all their contingencies and were ready to close escrow, was 11, which is down from last week’s number of 21.

Find out what's happening in Redwood City-Woodsidewith free, real-time updates from Patch.

Closed-escrow homes were five, which was down by four from last week.

Worth noting is that the sale price to list price ratio (SP:LP), decreased over last week's 102.1% with this week coming in at 101.3%. January ended at 99.8%; 2012’s highest ratio was 106.2%; November’s ratio was 103.8%; October’s ratio was 101.5%; September’s ratio was 103.0%; August’s ratio was 101.3%; July’s ratio was 101.5; June’s was 101.6%; and May’s 100.5%.

Finally, the average number of days for a home to sell in Redwood City is down this week to 34 days. Last week that figure was 43 days. The beginning of 2013 started out with it taking 50 days for a home to sell. This number of days for a home to sell has been on a downward trend, I believe because of the lack of inventory of new listings being brought on the market.

Last week the average price per square foot for a home was down to $563.00, or $54.00 per square foot. January’s 2013 price per square foot was $565.00. 2012 ended at $455.00. In November it was $501.00; in October it was $515.00; in September that number was $549.00; in April that number was $461.00; May’s was $475.00; June’s was $481.00; July's was $509.00; in August it was $551.00.

If you find this information helpful and can see how reading it regularly will save you time and money, you can read this on an ongoing basis.  Please go to my website at http://SFBayHomes.com fill in your e-mail address on the right to receive a weekly free newsletter. The topics covered will be Market Trends as well as other useful tips and ideas to help you with your real estate needs.

Available: Free lists of homes from the MLS. If you want notice about homes you are looking to buy you can click the “Free MLS” orange button to the right on my website and give the criteria of the home you would like to buy in the blank boxes.  I will arrange for your own Personal Organizer to send you results when a new home matching your criteria comes on the market. You will have information every morning before you wake, or 4:00 a.m., whichever is earlier.

You will become part of the Cliff Keith’s Insider’s Club when you sign up for your Personal Organizer. The Insider’s Club members will have information from time to time about homes that will be coming on the market for sale, days, weeks, even months, before everyone else knows about them. This is a huge advantage for you! It’s an added feature for those who want to have an early leg up on their competition for buying a home.

Additionally, feel free to friend/like me on many of the social networks I am on. I’m also available on the phone, by text, or by e-mail if that suits you better.

Want to reprint this post? You may do so, if you include the following credit line: Cliff Keith is a California real estate broker, who has helped home buyers and sellers since 1976! Are you ready to save time and money when you purchase or sell real estate? Subscribe to Cliff’s free newsletter at http://www.SFBayHomes.com. #sfbayhomes.com

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