Powered by Altos Research LLC | www.altosresearch.com | Copyright ©2005-2014 Altos Research LLC Median Price List $1,362,475 Average List Price $1,491,148 Asking Price Per Square Foot $697 Average Days on Market (DOM) 40 Inventory of Properties Listed 52 Most Expensive Listing $4,498,000 Least Expensive Listing $450,000 Average Age of Listing 55 Percent of Properties with Price Decrease 19% Percent Relisted (reset DOM) 4% Percent Flip (price increased) 4% Median House Size (sq. ft.) 1,830 Median Lot Size 6,501 - 8,000 sq. ft. Median Number of Bedrooms 3 Median Number of Bathrooms 2 Local Real Estate Market Update Redwood City Report for the week of April 27, 2015 Trend The median list price in Redwood City this week is $1,362,475. The 52 properties have been on the market for an average of 40 days. The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market. This Week Altos Research Value Statistics Market Action Index Strong Seller’s 73.4 The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer. In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller's Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb. Supply and Demand Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM Top/First $2,299,000 3,344 0.25 - 0.50 acre 4.0 3.5 16 13 4 0 61 Upper/Second $1,499,000 2,130 6,501 – 8,000 sq. ft. 3.0 2.5 47 13 5 5 45 Lower/Third $1,248,000 1,491 6,501 – 8,000 sq. ft. 3.0 2.0 75 13 6 6 26 Bottom/Fourth $659,000 1,090 4,501 – 6,500 sq. ft. 2.0 1.0 69 13 3 4 27 Characteristics per Quartile