"How's the market" is a question I hear a lot. We'll take a look at what's going on in Redwood City, one of the larger cities in San Mateo County, with roughly 81,000 residents. Like its famous neighbor some miles up the road, San Francisco, we jokingly say that the city's bird is the crane -- construction cranes are seen everywhere!
Two days ago our Multiple Listing Service showed:
Single Family Homes:
- 34 Active listings, with a median list price of $1,350,000
- 49 Pending sales
- 59 Closed sales in the last 30 days. Of these, 3 sold under asking; 4 at asking, and the rest, a whopping 52, sold for over asking
Condos/Townhouses:
- 5 Active listings
- 14 Pending sales
- 12 Closed sales in the last 30 days; 9 sold over asking, 2 at asking, 1 less than asking
We're definitely in a strong sellers' market, and definitely need more inventory to accommodate the demand from buyers.
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