Cynthia’s Weekly Redwood City Market Update 9/28/15

7/23/2019 Cynthias Weekly Redwood City Market Update 9/28/15

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Local Real Estate Market UpdateRedwood City

The median list price in RedwoodCity, Ca this week is $1,150,000. The63 properties have been on themarket for an average of 34 days.

With inventory and days-on-marketbasically unchanged and the MarketAction Index decreasing, the marketis not sending strong directionalsignal for the near-term outlook.

This Week

The market has been cooling off abit in recent weeks, as more homesare available and demand is less.

We're already seeing prices movelower as a result. Expect this trendto continue especially if the indexfalls to the Buyer's zone. Watch for apersistent up-turn in Market Actionto signal prices rising again.

Supply and Demand

Quartile MedianPrice Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

Top/First $2,300,000 3,132 0.25 - 0.50acre

4.0 4.0 19 15 2 2 27

Upper/Second $1,314,000 1,850 4,501 6,5000 sq. ft.

3.0 2.0 60 16 10 5 13

Lower/Third $969,000 1,255 4,501 6,500 sq. ft.

3.0 2.0 72 16 1 1 36

Bottom/Fourth $768,500 1,171 4,501 6,500 sq. ft.

3.0 1.5 70 16 1 1 61

Characteristics per Quartile

Update for the week of September 28, 2015


2/5

This week prices bumped up a bit but the trend of recent weeks is generally downward.A pickup in demand will be reflected in the Market Action Index, so watch that chart

to try to identify a trough in the market.

Median Price

Pricing trends have been lacking strong directional indication lately. Prices in

Quartiles 4 and 2 have been mixed in recent weeks, while Quartile 3 is down andQuartile 1 is up. Look to the Market Action Index to determine when we may see ashift in prices from these current levels.

Quartile Price

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$1,400,000-

$1,300,000-

$1,200,000-

$1,100,000-

$1,000,000-

$900,000-

$2,250,000-

$2,000,000-

$1,750,000-

$1,500,000-

$1,250,000-

$1,000,000-

$750,000-

$500,000-



The market's light downward trends are shared across both price and value. People are recently

placing less value on homes (you can see the recent declines in price per square foot as evidence.)Look for significant changes in the Market Action Index as a precursor to price and value changes,possibly as inflection points for good investment opportunities.

Price per Square Foot

Inventory has been relatively steady around these levels in recent weeks.

Inventory of Properties Listed for Sale

$750-

$700-

$650-

$600-

$550-

$500-

$750-

$700-

$650-

$600-

$550-

$500-



The Redwood City market is currently quite strongly in the Seller's Advantage zone

(greater than 30). The 90-day Market Action Index stands at 62.98; indicating very littlesupply relative to the demand.

Market Action Index

Not surprisingly, all segments in the market are showing high levels of demand. Watchthe quartiles for changes before the whole market changes. Often one end of the market(e.g. the high-end) will weaken before the rest of the market and signal a slowdown for

the whole group.

Market Action Index per Quartile

Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyers

Advantage zone (below 30) for a long period, prices are likely in for a downward correction.

80-

70-

60-

50-

40-

30-

20-

100-

90-

80-

70-

60-

50-

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30-

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The properties have been on the market for an average of 34 days. Half of the listingshave come newly on the market in the past 14 or so days.

Days on Market

It is not uncommon for the higher priced homes in an area to take longer to sell thanthose in the lower quartiles.

Days on Market per Quartile

Documents

Cynthia’s Weekly Redwood City Market Update 9/28/15