Friday's Market Report for Redwood City

Posted on: March 14th, 2014 | By Cliff Keith | Blog, Featured Posts, Friday's Weekly Market Update For Redwood City |

Current market report of activity for the past 7 days (Class 1 & 2): March 16, 2014

  • 12 – Newly Listed Homes for Sale (last week)
  • 02 – Price Changes of Previously Listed Homes (last week)
  • 10 – Sold Homes (last week)

During the past 7 days in Redwood City we have seen twice as many homes taken off the market as we saw brought on the market. This is not good for home buyers because once again they have less of a choice for their new home. The market is a quick one. Homes are selling in 22 days sooner on average. This mean we still have a pent up demand of home buyers who are ready, willing, and able to purchase their new home…today. The average sale price of home still hover around the $1M mark. It did drop to $952,000. The price per square foot keeps above the $600/sq.ft. trend to $604/sq. ft. We started 2014 with the homes selling price/sq.ft. at $579. Luxury homes over $1M continue to be homes that are coming on the market for sale. We had 7 out the 10 newly listed last week over the million mark. This is 67% of the homes listed for sale were over $1M. This week brought our first short sales or bank owned (REO) homes listed. The home sold in 2013 for $1.250M then and is now listed for $850K. This is a very special circumstances home and has nothing to do with the property but instead the current owner. It probably will end up selling over the list price. If you have a need for a real estate broker I am applying for the job. Contact me and I will be more than happy to discuss what your options could be in selling a home. You can go to my special site I have set up just for home sellers to help them decide 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. What is your home worth TODAY? Home buyers go here to find list of all homes on the market for sale TODAY:  

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