Special offer

How's the market in Redwood City, CA?

By
Real Estate Agent with Compass CA DRE# 01215160

"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!

 

Redwood City, CATwo 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.

Comments (7)

Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Lottie Kendall anyone thinking of selling in Redwood City would be wise to contact you for guidance... you'll have their property sold in just hours....

May 23, 2015 12:02 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Lottie,  The markets here in and around the bay area continue to be strong seller markets. I'm hoping a shift is on the horizon. 

May 23, 2015 12:54 AM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

Redwood City sounds like many markets around the country - we need inventory. I too hope homeowners will get the urge to move soon. Have a great Saturday, Lottie. D 

May 23, 2015 02:08 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Home buyers and sellers in the area will appreciate this report.

May 23, 2015 09:19 PM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Barbara Todaro, two of my buyers so far in 2015 have purchased in Redwood City. With inventory this tight, they were ecstatic to find a home, and happy as clams.

Hard for buyers in our areas today, Kathleen Daniels - no doubt about that.

Your area too, Debb Janes?

I hope this report helps buyers and seller realize what's going on in Redwood City at present, Gita Bantwal.

May 24, 2015 12:11 AM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

Oh yeah, we have about a month and half of ready to move into inventory. Crazy. 

May 24, 2015 12:13 AM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

I imagine you're seeing multiple offers on most listings, too, Debb Janes. Buyers really have to be on the ball, ready to act on a moment's notice.

May 24, 2015 12:17 AM