Today on MLS Broker?s Tour there are 17 new homes opened for inspection.
This is an upwards tick of almost 30% from the previous weeks so far in 2012.
In Redwood City and all around the San Francisco peninsula there is a lack of inventory. It is not uncommon to see multiple offers on homes. Buyers are still price sensitive. This means the craziness of over-bidding is not like in the past.
Last week there was a duplex on the market for $880,000 and sold with 3 offers for just under $1M! This is how active the real estate market is in Redwood City.
In Redwood City we have seen inventory go down, average sales price to increase by 9% over the last 60 days, and the list price to sales price ratio move upwards to 99.2%. Isn?t those figures pointing to a Seller?s Market?
This all indicates both sellers and buyers may want to consider making a move in their respective arenas. Like all markets they come and they go. Now is the time to do something in real estate.
Source: http://sfbayhomes.com/blog/redwood-city-real-estate-update/
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