Market Monday: Redwood City Real Estate Market Update for June 2023
Welcome to the latest Redwood City real estate market update for June 2023! Each month, we provide a snapshot of the market's key indicators, including the number of sales, number of listings, median listing price, and media sale price. In today’s Market Monday blog post, we will focus on the data for June 2023, so you can make informed decisions about buying, selling, or investing in Redwood City real estate.
Number of Sales:
In June 2023, the Redwood City real estate market saw a total of 49 sales, a 63% increase compared to the previous month. While sales are down 14% year-over-year, June saw the second highest sales volume in the last twelve months, after June 2022 and inline with August 2022.
Number of Listings:
The total number of listings in Redwood City for June 2023 was 51, representing a 2% increase from the previous month. Inventory continues a slight increase through the Summer selling season, attempting to meet the buyer demand.
Median Listing Price:
The median listing price for homes in Redwood City in June 2023 was $2,195,000, a 5% increase from the previous month. Median listing price increased 10% year-over-year as well. Sellers are responding to the increased buyer activity in the market by increasing the list price.
Median Sale Price:
For June 2023, the median sales price of homes in Redwood City was $2,160,000, a 1% increase compared to the previous month.
Comparing the median sale price to the median listing price provides insight into the negotiation power of buyers and sellers in the current market. If the median sales price is consistently lower than the median listing price, it indicates that buyers generally have more room for negotiation. Conversely, if the median sales price is higher than the median listing price, sellers likely have more leverage in the negotiation process. For now, Redwood City market remains balanced.
As we wrap up our Redwood City real estate market update for June 2023, it's essential to remember that the local market evolves and shifts. Keeping an eye on these key indicators each month helps you can make informed decisions about buying, selling, or investing in Redwood City real estate.
If you have any questions about the current state of the market or need assistance with your real estate needs, please don't hesitate to contact our team of local experts. We're here to help you navigate the Redwood City real estate market with certainty!
Your source for real estate news on the San Francisco Mid Peninsula
The Big Story Silicon Valley housing market recession? Depends on who you ask. Quick Take: Home prices fell for the first time this year, declining 2.4% month-over-mo… Read more
A Seller’s Guide for San Carlos Homeowners
Val Vandervort of Veritas Homes sat down with Melanie Luders of Fidelity National Title Escrow to discuss residential title and escrow in San Mateo County. The purpose… Read more
During my years growing up in San Mateo, I was aware of the Hiller Aviation Museum. I saw it while driving along the 101 freeway. I saw small planes flying in and out … Read more
San Mateo is a great place to live. Conveniently located on the Peninsula between San Francisco and San Jose, the city has an active business community, beautiful hous… Read more
The California Residential Purchase Agreement is an ever-evolving document central to purchasing residential real estate in the state of California. In addition to a p… Read more
The ideal way to meet a great Mid Peninsula Realtor® is to ask trusted friends, neighbors, or work associates for a referral. It is likely that if they had a good expe… Read more
Even though the summer heat is still upon us, it is officially back-to-school time in the Bay Area. When I was a youngster (decades ago), this rite of passage never oc… Read more
New Price! 2708 Babe Ruth Avenue, San Jose 4 Bedrooms | 2 Baths 2,082 sq ft | 6,000 sq ft lot Built in 1976 Offered at $1,698,000 Beautifully remodeled one-story home … Read more
New Price! 2634 Sequoia Way, Belmont Offered at $1,998,000 3 Bedrooms, 2 baths 1,805 sq ft (per floor plan drawing), 5,280 sq ft lot (Realist) Nestled in the hills o… Read more
San Carlos Real Estate Just Listed! 132 Winding Way, San Carlos Offered at $1,988,000 3 bedrooms | 1 Bath 1,845 Sq Ft (per floor plan drawing) | 5,073 Sq Ft Lot (per … Read more
In Escrow! 1160 Elm Street, San Carlos 3 bedrooms | 2 baths 1,350 sq ft (per assessor), 4,800 sq ft lot (per assessor) Built in 1948 Located in the popular Oak Park ne… Read more
San Mateo is a suburban center along the San Francisco Peninsula, perched between the Santa Cruz Mountains and the San Francisco Bay. With a variety of housing, strong… Read more
One of the blessings of living on the Mid-Peninsula is the prevalence of beautiful architectural homes. We have a lot of them. Whether small or large, a well-designed … Read more
There is no doubt in my mind that San Francisco is one of the most beautiful places on earth. The rugged terrain, beautiful architecture, and gorgeous views are hard t… Read more
Calling all shoppers. If you find yourself on the San Francisco Mid Peninsula (a truly beautiful place), make sure that you peruse the shops on Burlingame Avenue in Bu… Read more
Christmas is upon us. If you are like me, I’m busy buying and wrapping Christmas gifts, planning meals, and other such busy holiday activities. Sometimes it gets so bu… Read more
When it comes time to sell your San Francisco Mid Peninsula home, your first task should be to find an outstanding Realtor. This important professional should have amp… Read more
Self care tips and more
Where function meets beauty
We have some pretty well-recognized owners and chefs here
Top Ideas for Unforgettable Day Trips
Sharing our favorite eateries that are open on Mondays
We're sharing some local spots to check out
Honoring the City of Good Living
San Carlos Experts, Mid-Peninsula Leaders
Experience the Season Locally
You’ve got questions and we can’t wait to answer them.
