Mike Bohnert | The Bohnert Group
Redwood City, CA
Single-Family Homes
DRE #01325031
Redwood City, CA
Tue Dec 03 2024
This week the median list price for Redwood City, CA is $2,399,999 with the market action index hovering around 54. This is an increase over last month's market action index of 52. Inventory has decreased to 41.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market has begun to heat up in recent weeks. We’re already in a Seller’s market and not surprisingly prices are showing evidence of moving up along with the lower levels of inventory.
Real-Time Market Profile
| Median List Price | $2,399,999 | |
| Median Price of New Listings | $1,585,000 | |
| Per Square Foot | $1,197 | |
| Average Days on Market | 117 | |
| Median Days on Market | 49 | |
| Price Decreased | 41% | |
| Price Increased | 5% | |
| Relisted | 12% | |
| Inventory | 41 | |
| Median Rent | ||
| Market Action | 54 | |
| Strong Seller's Market | ||
The market continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index as a leading indicator for how long this trend will last.
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 |
|---|---|---|---|---|---|---|---|---|
| $4,149,444 | 3,976 | 0.25 - 0.5 acre | 4 | 4.3 | 20 | 0 | 0 | 49 |
| $2,999,500 | 2,894 | 8,000 - 10,000 sqft | 4 | 3.3 | 55 | 0 | 2 | 63 |
| $2,075,000 | 1,633 | 6,500 - 8,000 sqft | 3 | 2 | 83 | 0 | 1 | 84 |
| $1,498,000 | 1,240 | 4,500 - 6,500 sqft | 3 | 2 | 78 | 2 | 3 | 77 |