7/20/2015 - 7/26/2015
Last week I commented on the lack of sub-million dollar sales. This week 3 of the 9 closed sales were sub-million. This is more a product of the size of the homes than any sort of market slow-down, as all three of the homes were around the 1,000 S/F mark. It would take $1,000/SF to bring those homes up to a million. Price/SF numbers and sales to list ratio continue to stay extremely healthy despite the considerable drop in average sales price.
What will be interesting to observe in the in the coming months, is how Redwood City's Price/SF numbers stack up to those of San Carlos in the long run. Last month we outshined San Carlos in that department, which is not typical of historic trends. I'll be able to provide the July averages in next week's update.