8/31/2015 - 9/6/2015
Not a very impressive showing this week. Our sales to list ratio dipped below 100% for the first time since I started running these updates almost 4 months ago, and it is likely that it hadn't happened for sometime before that. It's a little bizarre that sales to list would drop so sharply in a one week span, but a brief inspection of the closed sales will show that several of them had been sitting on the market for quite some time. One listing on Jefferson had been on the market for a total of 95 days, and another one right down the street sat for 72 days. Both ultimately closed significantly under asking. It just goes to show that even in a market as hot as Redwood City's has been, you still have to be careful not to price your listing too aggressively.
As for the shortage of new listings this past week, I'd attribute that to the holiday weekend. Most people opt out of listing on holiday weeks to avoid sparsely attended open houses.