Is Redwood City, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Redwood City has remained a Seller's Market.
Key Takeaway
Redwood City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Redwood City, CA
How much do homes in Redwood City, CA cost?
Median Sold Price
$1,837,312
$1,084/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Redwood City have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Redwood City was $1,837,312 in May 2024, up 4.7% from last year, and the median price per square foot was $1,084.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $737.5K | $735K | -0.3% |
| 2 Bedrooms | $1.1M | $1.2M | +7.4% |
| 3 Bedrooms | $1.7M | $1.8M | +5.8% |
| 4 Bedrooms | $2.4M | $2.4M | +1.7% |
| 5+ Bedrooms | $2.8M | $3.1M | +8.8% |
Summary: Redwood City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.3%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 8.8%.
Median Sold Price Compared To Nearby Cities
| Belmont | $2.0M | $2.1M | +5.8% |
| Redwood City | $1.7M | $1.8M | +4.7% |
| San Carlos | $2.0M | $2.1M | +2.1% |
| Atherton | $7.5M | $7.6M | 0.5% |
| Woodside | $5.2M | $4.9M | -4.6% |
Housing Supply in Redwood City, CA
How many homes are available in Redwood City, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 147 | 165 | +12.2% |
Summary: The Redwood City real estate market had 165 homes for sale in May 2024, a 12.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 38 | 35 | -7.9% |
| 3 Bedrooms | 57 | 63 | +10.5% |
| 4 Bedrooms | 31 | 35 | +12.9% |
| 5+ Bedrooms | 17 | 26 | +52.9% |
Summary: The Redwood City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 7.9%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 52.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 63 | 50 | -20.6% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Redwood City, you could pay more than the asking price. 64.6% of homes here sold above asking price last month.
Summary: A total of 50 homes were sold or pending in Redwood City in May 2024, down by 20.6% month-over-month. Of the 48 sold homes, 29% were sold under asking, 6% were sold at asking, and 65% were sold over asking.
Days on Market for Redwood City, CA
How long does it take to sell a home in Redwood City, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 20 Days | +17.3% |
Summary: Homes in Redwood City had an average of 20 days on market in May 2024, up by 17.3% compared to last year.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Redwood City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 50 homes were sold in Redwood City; 80% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
Listings on this page identified as belonging to another listing firm are based upon data obtained from the SFAR MLS, which data is copyrighted by the San Francisco Association of REALTORS©, but is not warranted. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing Broker has attempted to offer accurate data, but buyers are advised to confirm all data provided. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.