Is Redwood City, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$1,823,300
$1,084/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Redwood City was $1,823,300 in April 2024, up 1.3% from last year, and the median price per square foot was $1,084.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $735K | $775K | +5.4% |
2 Bedrooms | $1.2M | $1.2M | +5.4% |
3 Bedrooms | $1.8M | $1.8M | +3.1% |
4 Bedrooms | $2.4M | $2.4M | +1.0% |
5+ Bedrooms | $2.9M | $3.0M | +2.5% |
Summary: Redwood City housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 2.5%.
Median Sold Price Compared To Nearby Cities
Redwood City | $1.8M | $1.8M | +1.3% |
San Carlos | $2.1M | $2.0M | -0.4% |
Atherton | $7.5M | $7.5M | -0.9% |
Belmont | $2.0M | $2.0M | -2.2% |
Woodside | $5.3M | $4.6M | -12.1% |
Housing Supply in Redwood City, CA
How many homes are available in Redwood City, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
133 | 156 | +17.3% |
Summary: The Redwood City real estate market had 156 homes for sale in April 2024, a 17.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 5 | +400.0% |
2 Bedrooms | 35 | 42 | +20.0% |
3 Bedrooms | 52 | 59 | +13.5% |
4 Bedrooms | 31 | 32 | +3.2% |
5+ Bedrooms | 14 | 18 | +28.6% |
Summary: The Redwood City housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 400%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
37 | 63 | +70.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
45 Homes Were Sold
Over Asking
Summary: A total of 63 homes were sold or pending in Redwood City in April 2024, up by 70.3% month-over-month. Of the 63 sold homes, 16% were sold under asking, 13% were sold at asking, and 71% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
16 Days | 13 Days | -20.9% |
Summary: Homes in Redwood City had an average of 13 days on market in Apr 2024, down by 20.9% compared to last year.
Breakdown of Home Sale Times
56 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 63 homes were sold in Redwood City; 89% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.