Powered by Altos Research LLC | www.altosresearch.com | Copyright ©2005-2014 Altos Research LLC Median Price List $1,198,500 Average List Price $1,777,124 Asking Price Per Square Foot $704 Average Days on Market (DOM) 32 Inventory of Properties Listed 50 Most Expensive Listing $25,000,000 Least Expensive Listing $349,900 Average Age of Listing 62 Percent of Properties with Price Decrease 12% Percent Relisted (reset DOM) 6% Percent Flip (price increased) 2% Median House Size (sq. ft.) 1,642 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 July 13, 2015 Trend The median list price in Redwood City this week is $1,198,500. The 50 properties have been on the market for an average of 32 days. Inventory has been lightening lately and the Market Action Index has been trending up. These are mildly positive indications for the market. This Week Altos Research Value Statistics Market Action Index Strong Seller’s 74.1 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. The market has started cooling and prices have been flat for several weeks. Since we're in the Seller's zone, watch for changes in MAI. If the MAI resumes it's climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer's zone, watch for downward pressure on prices. Supply and Demand Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM Top/First $2,048,919 3,153 0.25 - 0.50 acre 4.0 3.5 29 12 1 3 22 Upper/Second $1,363,500 1,665 4,501 – 6,500 sq. ft. 3.0 2.0 60 12 1 4 40 Lower/Third $899,000 1,480 6,501 – 8,000 sq. ft. 3.0 2.0 68 13 2 3 22 Bottom/Fourth $695,000 1,040 4,501 – 6,500 sq. ft. 2.0 1.0 72 13 2 3 43 Characteristics per Quartile