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Prices Rising, but don't get too Excited!
August 2010 Newsletter
REDWOOD CITY
INVENTORY, CLOSED SALES, NEW LISTINGS

Redwood City is a perfect example of rising prices not equating to real appreciation in home values. While in the past few months we have seen average home prices rise from $734K to $935K, each month the average size of the houses and lots sold have also increased. It’s very debatable whether prices increased at all! See the chart below.

Month Ave Price Ave. Living Space Ave. Lot Size
May $754K 1,540 sf 7,066 sf
June $857K 1,696 sf 8,113 sf
July $935K 1,998 sf 10,679 sf

While inventories may not be at all time highs in Redwood City, we are nonetheless near there. Redwood City has faired a little better then the county overall as the number of new listings are actually down 10% vs. the county only being down 5%. Both the County and Redwood City are experiencing sales about 19% below normal, so if it was not for fewer listings, Redwood City would also be experiencing record inventories.

Average Monthly Stats for Single Family Homes in Redwood City

 

Current Inventory

Closed Sales

New Listings

Sales YTD

New Listing YTD

This Past  Month

223

41

79

296

545

Decade Average

166

61

86

363

604

% Diff

34%

-33%

-9%

-19%

-10%

 
Average Monthly price for Single Family Homes in Redwood City
Grey line is the monthly price data while the red-line is the 4-month moving average.
Redwood City home prices
Monthly Inventories, Sales and New Listings for Single-Family Homes in
Redwood City
Redwood City real estate inventory
Month over Month comparison
of Inventories, Sales and New Listings in Redwood City
Year to Date Closed Sales
and Listings in
Redwood City
Redwood City real estate monthly performance
Redwood City real estate sales vs. listings
 
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