RWC Weekly Market Update: 5/25/2015 – 5/31/2015

5/25/2015 – 5/31/2015

What will $700,000 buy you in Redwood City these days?  How about a tiny 560 square foot 1 bed/1 bath starter home.  A home fitting that description sold on Alexander Avenue last week for $682,500.  On the whole, the market performed the way that we’ve come to expect – high ask, short run on the market, sales well over ask.  Our average price per square foot numbers jumped quite a bit this week, but that’s mostly due to the 560 sqft home and the sale of a 4,210 sqft Emerald Hills Estate that sold for $4,300,000, or $1,021/sqft.  Inventory has picked up slightly but is still far below the norm for this time of year  (The number of active listings reported is as of June 1st, not May 31st).

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