The spring real estate market is starting off on a flat note and it doesn’t look like it will be moving up any time soon. All numbers for Redwood City real estate are flat for the past 7 days, Redwood City homes coming on the market for sale dropped to 12 from 14 last week. The housing months of inventory available in Redwood City increased to this week of 8.4 months. This is good if you are a home buyer because there’re is more selections of homes to choose. I think you will see this continue in 2013.
The average selling price for homes sold in Redwood City jumped this past week to $1M from the previous week price of $ 1.1M. The total number of new listings, and homes added to the choices available to home buyers from transactions falling out of escrow was 12. While the number of homes with pending sales, or had removed all their contingencies and were ready to close escrow was 18 which is the up from last week’s number of 11. Closed escrows homes was 9, which was up by 4 from last week.
Market Trends Redwood City real estate February 22, 2013
Worth noting is the sale price to list price ratio (SP:LP), which has stayed flat 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 that 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 36 days. Last week that figure was 34 days. The beginning of 2013 started out with taking 36 days for a home to sell.
Last week the average price per square foot for a home was down to $572.00 or $9.00 per square foot. January’s 2013 price per sq. ft. was $565.00 2012 ended at $455.00; In November it was $501, In October it was $515.00. In September that number was $549.00, April that number was $461.00, May’s was $475.00, June’s was $481.00, and July was $509.00, August it was $551.00.
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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 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.
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The information for the Market Trends Redwood City is from data off the Multiple Listing Service (MLS) and #SFBayHomes.com.
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