10/26/2015 - 11/1/2015
Only one sale closed at under $1 million this week - a 980 SF 3/1 home off of Industrial that sold for $875,000.
At the other end of the spectrum, a 2,800 SF 3 bed/3 bath home on Durlston Road (Edgewood Park neighborhood) sold for $2,650,000. That's quite an impressive price tag for a home in the Redwood City flatlands, but not all that surprising given the way the market has been trending for the "Old Redwood City" neighborhoods. "Old Redwood City", which I will loosely define as the Mt. Carmel, Edgewood Park-Oak Knoll, and Wellesley Crescent neighborhoods, has been increasing in value at break-neck pace. It has become commonplace for homes in these neighborhoods to sell at price per square foot numbers upwards of $1,000, ocassionally even breaking the $1,200 mark. To put this into perspective, city-wide price/SF numbers have been floating around in the low $800's. Even at these prices, the "Old Redwood City" neighborhoods still offer affordable alternatives to neighborhoods in Palo Alto and Menlo Park with similar aesthetics and selling points.