Is Redwood City, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Redwood City has remained a Seller's Market.
Housing Prices in Redwood City, CA
How much do homes in Redwood City, CA cost?
Median Sold Price
$1,850,000
$1,077/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Redwood City was $1,850,000 in March 2024, up 1.2% from last year, and the median price per square foot was $1,077.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $735K | $775K | +5.4% |
2 Bedrooms | $1.2M | $1.2M | +3.7% |
3 Bedrooms | $1.8M | $1.8M | +3.3% |
4 Bedrooms | $2.4M | $2.4M | -0.6% |
5+ Bedrooms | $2.9M | $2.9M | 0.0% |
Summary: Redwood City housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Atherton | $7.5M | $7.8M | +3.9% |
Redwood City | $1.8M | $1.8M | +1.2% |
San Carlos | $2.1M | $2.1M | 0.0% |
Belmont | $2.1M | $2.1M | -1.3% |
Woodside | $5.3M | $4.9M | -7.3% |
Housing Supply in Redwood City, CA
How many homes are available in Redwood City, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
108 | 138 | +27.8% |
Summary: The Redwood City real estate market had 138 homes for sale in March 2024, a 27.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 31 | 37 | +19.4% |
3 Bedrooms | 42 | 54 | +28.6% |
4 Bedrooms | 24 | 31 | +29.2% |
5+ Bedrooms | 10 | 14 | +40.0% |
Summary: The Redwood City housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 29.2%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
38 | 36 | -5.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in Redwood City in March 2024, down by 5.3% month-over-month. Of the 36 sold homes, 11% were sold under asking, 8% were sold at asking, and 81% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
22 Days | 14 Days | -37.8% |
Summary: Homes in Redwood City had an average of 14 days on market in Mar 2024, down by 37.8% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 36 homes were sold in Redwood City; 78% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.