Redwood City, CA: Market activity during the last 7 days for Single Family Homes and Condo/Townhouse: March 29, 2014
- 14 - Newly Listed Homes for Sale (last week)
- 5 - Price Changes of Previously Listed Homes (last week)
- 10 - Sold Homes (last week)
The number of new listing is only slightly up from the previous week and the Month of March averaged 13 homes. This is low and not good for home buyers because the average of homes sold averaged 15 homes while the number of homes closing their escrows was 10. Total that is slightly under a 2 to 1 ratio.
The months of inventory of homes for sale has been depleted on a steady basis all year and last week was no different. For the month of March the average was 3.5 months. This is not a good sign for home buyers because it makes for a limited selection of homes to buy.
Homes in Redwood City have continued to sell quickly and for higher prices. Last week we saw homes on average sell 5.4% over their asking price and on average in 19 days. March numbers were slightly different in 4.75% and 20 days respectively.
There is some good news though. Home that are being brought on the market for sale in Redwood City have increased in the under a million dollar mark to 13 last week and over a million to 3. March averages were also good for home buyers at the over/under numbers were 8 homes vs. 5 homes. The tough part is the average price of a home all month long has been right at the $ 1,000,000 mark. The price per square foot is still over the $600 benchmark sitting on average at $627/sq.ft..
If you have a need of a real estate broker I am applying for the job. Contact me and I will be more than happy to discuss what your options are today when selling a home.
You can go to my special site I have set up just for home sellers to help them determine the value of their home at no cost or obligations. All you need to do is enter your address and you value will be given along with the other homes in the area and what they are listed for and the sold one how much the selling price.
Go Here To Discover What your home is worth TODAY? http://cliff.SmartHomePrice.com
Home buyers go here to find list of all homes on the market for sale TODAY: http://SFBayHomes.com