Redwood City, CA - Past 7-Days Real Estate Market Report

Redwood City, CA - Past 7-Days Market Report

Redwood City, CA is finding itself in a residential properties seller's market and has been so for all of 2013. The beginning of the seller's market started in May and has increased its trend ever since.

Over the last 90 days we have seen a substantial increase of medium prices on single family homes. I expect this trend to continue but at a slower pace during the holidays. This goes hand in hand with the price per square footage too. Redwood City has not shown any indications of going under the $600+ per square foot. Amazing.

Average days on the market for home is also sharply down. It is almost like they are jumping off the shelves in Redwood City and most part of San Mateo and Santa Clara CA Counties. It's good in Silicon Valley if you are a Realtor these days.

It goes without say the month of inventories available has declined all year too. In surrounding communities of Redwood City we are seeing inventories under one month. Big demand and no inventory support the fore mentioned trends.

There are 29,167 houses in Redwood City and it's population - 76,815.

Currently there are:

• 85 - Total Number of Properties Currently For Sale in Redwood City
• 11 Distressed Properties sales (0 - REO, 11 - Short Sale).
• This represents13% of total properties for sale

Market activity during the last 7 days (single family homes):

• 8 - Newly Listed Homes for Sale (last week)
• 3 - Price Changes of Previously Listed Homes (last week)
• 5 - Sold Homes (last week)