Inventory jumped a bit this past week, as 20 new listings hit the market and just 12 sales closed. Numbers across the board were significantly lower this week than they were the week prior, but that says more about the valuation of less desirable neighborhoods than Redwood City as a whole. For instance, a 6 bed/3bath, 2,373 S/F Home on Fair Oaks Avenue sold for $1,010,000 - that's only $425/SF. And a 1,760 S/F, 3 bed/2 bath home on Haven Avenue (also east of El Camino) closed for $9,000 - or just $511/SF. Elsewhere in Redwood City however, we are still seeing high sales prices and price per square foot numbers. Like on Palm Avenue, where a 1,540 S/F, 4 bed/2 bath home sold for $1,455,000 - or $944/SF. Still, if inventory continues to rise as it did this past week, we should start to see prices cool down on the whole, as the demand for housing gets spread across a larger supply. Stay tuned!
On a side note - my listing at 2064 Idaho Court came on the market this past week and had its first round of open houses. We will be showing it again this Saturday and Sunday. 3 bed/2 bath in a quiet cul-de-sac in the Woodside Plaza neighborhood. Follow this link for pictures and property info!
I have another listing coming on the market later this week. It's right around the corner from Idaho, on Massachusetts Avenue. This is a beautifully remodeled 3 bed/2 bath near 2,000 S/F home, and it will be open for viewing this Saturday and Sunday as well. Give me a call if you'd like additional info on this property. (650) 222-2327