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Median Price List $1,362,475

Average List Price $1,491,148

Asking Price Per Square Foot $697

Average Days on Market (DOM) 40

Inventory of Properties Listed 52

Most Expensive Listing $4,498,000

Least Expensive Listing $450,000

Average Age of Listing 55

Percent of Properties with Price Decrease 19%

Percent Relisted (reset DOM) 4%

Percent Flip (price increased) 4%

Median House Size (sq. ft.) 1,830

Median Lot Size 6,501 - 8,000 sq. ft.

Median Number of Bedrooms 3

Median Number of Bathrooms 2

Local Real Estate Market UpdateRedwood City

Report for the week of April 27, 2015 Trend

The median list price in Redwood City this week is $1,362,475. The52 properties have been on the market for an average of 40 days.

The Market Action Index has beentrending down lately, while inventoryand days-on-market are climbing. The trends imply a weakening market.

This Week

Altos Research Value StatisticsMarket Action Index Strong Sellers 73.4

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies

a seller's advantage. Below 30, conditions give the advantage to the buyer.

In the last few weeks the market hasachieved a relative stasis point interms of sales to inventory.However, inventory is sufficientlylow to keep us in the Seller's Marketzone so watch changes in the MAI. Ifthe market heats up, prices arelikely to resume an upward climb.

Supply and Demand

QuartileMedian

PriceSq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM

Top/First $2,299,000 3,3440.25 -

0.50 acre4.0 3.5 16 13 4 0 61

Upper/Second $1,499,000 2,1306,501

8,000 sq. ft.

3.0 2.5 47 13 5 5 45

Lower/Third $1,248,000 1,4916,501

8,000 sq. ft.

3.0 2.0 75 13 6 6 26

Bottom/Fourth $659,000 1,0904,501

6,500 sq. ft.

2.0 1.0 69 13 3 4 27

Characteristics per Quartile

Price trends continued their recent uptrend this week. While still below the market's price high-point, we've seen a nice run recently.

Median Price

Pricing in the upper-half of the market (Quartiles 1 and 2) has been relatively flat recently while the lower-half prices have remained strong. Quartiles 3 and 4 have been increasing in the last few weeks. Look to the Market Action Index Quartile breakdown for a leading indicator on which group will lead the market in the near future.

Quartile Price

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The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop.

Price per Square Foot

Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

Inventory of Properties Listed for Sale

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The Redwood City market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 73.41; indicating very little supply relative to the demand.

Market Action Index

Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

Market Action Index per Quartile

Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyers

Advantage zone (below 30) for a long period, prices are likely in for a downward correction.

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The properties have been on the market for an average of 40 days. Half of the listings have come newly on the market in the past 7 or so days.

Days on Market

It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

Days on Market per Quartile