This week, we're just about 75% through the second quarter of 2016. There's more inventory in Redwood City, which means competition isn't as fierce. Properties may actually sell for little less and with fewer offers than they would have a few months ago. Now through August, the market will likely stay at a slower space. This is pretty typical for the summer. In September, the market should pick up a bit, as it normally does.
Here's a look at the numbers:
So what will continue to sell? Smaller homes with 2-3 bedrooms in good locations and on nice lots are going to continue to be in demand. These homes cater towards entry level buyers and people looking for a home they can improve and make their own. In terms of neighborhoods, I have no doubt that Mt. Carmel and Woodside Plaza will continue to be popular and in demand. Mt. Carmel is walking distance to summer events like music at Stafford Park, Friday nights on the Square, and the 4th of July parade. Woodside Plaza is also flat, features large lots, is very family friendly, and walking distance to Woodside Road shops and restaurants.
Whether you just started looking for a home, have been looking for a while and have questions or are curious about what's going on in the market, please feel free to reach out anytime. I'd be happy to grab a coffee with you and help you map things out to buy or sell your home in Redwood City. I'm very active in the community and often know about off market opportunities, upcoming listings, and school/community info. I can offer you a competitive edge that other realtors can't.
Cliff Whearley has been a resident of Redwood City for 23 years. He is a Realtor at Dwell Realtors, Inc. and has been practicing real estate since 2007. If you have any real estate questions, he would love to help!