Chris Iverson's Market Report
Redwood City, CA 94062
Single-Family Homes
Market data for your neighborhood, updated weekly.
Redwood City, CA 94062
Wed Dec 04 2024
This week the median list price for Redwood City, CA 94062 is $2,999,000 with the market action index hovering around 48. This is less than last month's market action index of 49. Inventory has decreased to 21.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.
Real-Time Market Profile
| Median List Price | $2,999,000 | |
| Median Price of New Listings | $1,675,000 | |
| Per Square Foot | $1,170 | |
| Average Days on Market | 86 | |
| Median Days on Market | 49 | |
| Price Decreased | 43% | |
| Price Increased | 0% | |
| Relisted | 14% | |
| Inventory | 21 | |
| Median Rent | ||
| Market Action | 48 | |
| Strong Seller's Market | ||
We continue to see prices in this zip code hovering around these current levels, even though they bumped up a bit this week. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $4,450,000 | 4,141 | 0.5 - 1 acre | 4 | 4 | 53 | 0 | 0 | 49 |
| $3,398,000 | 3,720 | 0.25 - 0.5 acre | 4 | 2.5 | 36 | 0 | 0 | 49 |
| $2,798,000 | 2,005 | 6,500 - 8,000 sqft | 5 | 3.5 | 92 | 0 | 0 | 175 |
| $1,999,943 | 1,608 | 6,500 - 8,000 sqft | 3 | 2 | 83 | 1 | 1 | 35 |