7/6/2015 - 7/12/2015
With the 4th of July weekend behind us, the number of newly listed properties jumped quite a bit this week - up to 18 from 4 the week prior. I would attribute this jump almost entirely to the holiday weekend and I expect to see these numbers stabilize in the coming weeks. Price per square footage numbers dipped back down to the 700's, which is historically more typical of Redwood City real estate, though with property values as high as they are I would expect to see us continue to break the 800 mark fairly consistently. Don't be misled by the average DOM of 50. That numbers is dramatically skewed by one closed sale on Lakeview Way in Emerald Hills that had been sitting on the market for 294 days, and another at Fox Hollow Lane that had been sitting for 110 days. You take those listings out of the equation and you are left with an average DOM of about 17 days.
As always, feel free to contact me for more detailed market reports on RWC or another city.