Health & Fitness
Market Trends: Redwood City Real Estate Feb. 8, 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 gathering steam and starting to get into full swing.
All numbers for Redwood City real estate are up. In the past seven days, Redwood City homes coming on the market for sale increased to 14. This is nine more than last week where there were five homes.
The housing months of inventory available in Redwood City has steadily increased since reaching its low in mid-July of 2.6 months to this week's of 4.5 months. This is good if you are a home seller because there is a smaller selection of homes for buyers to choose from now. I think you will see this continue in 2013.
Find out what's happening in Redwood City-Woodsidewith free, real-time updates from Patch.
The average selling price for homes sold in Redwood City trended down this past week for the past five weeks to $806,000 from the previous week's price of $861,000.
The total number of new listings, and homes that are choices available to home buyers from transactions falling out of escrow, was 16. While the number of homes with pending sales, or which had removed all their contingencies and were ready to close escrow, was 21, which is the same as last week. Closed escrow homes was nine, which was up one from last week.
Find out what's happening in Redwood City-Woodsidewith free, real-time updates from Patch.
Worth noting is the sale price to list price ratio (SP:LP), which has increased over last week's 101.3% with this week coming in at 102.1%. 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 up this week to 43 days. Last week that figure was 26 days. The beginning of 2013 started out with 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 up to $617.00, or $93.00 per square foot. January’s 2013 price per square foot was $565.00. 2012 ended at $455; In November it was $501, in October it was $515. In September that number was $549, in April that number was $461, May’s was $475, June’s was $481, July's was $509, and in August it was $551.
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 click this link and go to SFBayHomes.com and 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 results when a new home matching your criteria comes on the market. You will have information every morning before you wake, or 4:00 am, 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.
Additionally, feel free to friend/like me on many of the social networks I am on. They can be seen in the list below. I’m also available on the phone by text, or e-mail if that suits you better.
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The information for Market Trends: Redwood City is from data off the Multiple Listing Service (MLS) and #SFBayHomes.com.
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