The Redwood City Friday’s Market Update: August 19 & 26, September 2, 9, 16, 23, 30, October 7, 14, 21, (2011)  

Seller's Market for the 11th week-in-a-row.

Redwood City real estate:  Here is the MLS data for single-family homes over the past 7 days in Redwood City, CA.  These numbers show data gathered between Friday 8/19/2011 – 10/21/11:

Date                                     8/19 – 26 – 9/2 – 9 – 16 – 23 – 30 – 10/7 – 14 – 21

• New Listings –———— 20 – 21 –25 –15 – 25 – 23 – 25 – 19 – 17 – 18
• $ Increased –————— 0 –– 0 – 03–01 -  00 -  00 – 01 – 03 – 02 – 00
• $ Decreased –———— 10 – 11 – 13 – 12 – 13 – 14 – 15 – 13 – 07 – 15
• BOM –————————  0 –- 0 — 2—03 – 02  – 00 – 00 – 00 – 00 – 02                         
• Pending –——————– 7 – 12 – 05—16 – 15 – 15 – 14 – 17 – 17 – 09
• Pending Do Not Show –- 4 — 11 –13—11 -  07 – 11 – 10 – 11 – 08 – 05
• Sold –————————-  9 – 15 – 11—08 – 16 – 13 – 15 – 10 – 14 – 10
• Rentals –———————  1 –- 1 — 01–02 -  00 – 01 – 01 – 00 – 01 – 00
• Expired –———————  0 –- 2 — 4— 02 -  00 – 00 – 00 – 03 – 01 – 04
• Cancelled –——————  5 –- 6 — 3— 06 -  05 – 07 – 05 – 07 – 03 – 03

Graph Chart of Redwood City Real Estate: October 21, 2011

What do those numbers mean? They mean 83% of the homes that came on the market for sale, their counter parts of active listings on the market dropped their listing price.

What type of market do I see here?  The numbers point to a Seller’s Market!  WHY you may ask?  It’s because of the basic law in economic, Supply and Demand.  Redwood City had 18 new homes, which came on the market for sale during the past 7 days and 31 homes, 1.72 Times more (58%) removed from the market for one reason or another. This is the eleventh (11^th) week in a row this has happened to Redwood City real estate!

If you were a home buyer looking in Redwood City, I’d say it time for action on your part. If you are a home seller in Redwood City, I say, it too is time for you to consider putting your home on the market for sale, today.

Both Redwood City’s homebuyers and sellers will make an intelligent decision by taking action to buy and sell their homes.

By doing so, Buyers would be ahead of the home buying market curve because the media hasn’t realized the market is shifting towards a Seller’s Market.  And, when the media starts reporting the shift in the Redwood City real estate market everyone and his brother will begin looking to buy a home in Redwood City.  Redwood City home buyers you are smart!  Make the smart choice. As a side note, Redwood City real estate in past recessions was used as the vehicle to keep ahead of inflation by investors. (See 9/19/11 blog post on inflation.)

Redwood City Home Sellers you are smart too!  Take action today, and offer your home to the market for sale because you will begin to see more offers during this trend.  This will cause you the home seller to negotiate on the offers you receive fewer concessions in terms of the price and conditions.