December 30, 2007
Mid-Peninsula Sales Report: Some Surprises
Well, predictably, the reported sales between December 17th and 23rd were a bit sluggish. There were 13 in total: 9 in Redwood City, 3 in San Carlos and 1 in Belmont. The surprises were in the time the homes spent on the market and their sales prices (compared to list). The average days on market was 21.6 days, which is pretty remarkable given current conditions. More surprisingly is that the average sales price was only -.46% less than asking. That is less than a half of a percent. So some sellers out there are being very wise and offering up their homes at realistic prices.
The statistics:
Days on Market
High 63
Low 6
Average 21.6
Sales Vs. List Price
High +5%
Low -5%
Average -.46%
Price
Over $1,000,000 6
Under $1,000,000 7
The details are after the jump.
The details:
611 Heller Street, Redwood City
Original $659,000 Sold for $649,000 (-1.5%)
Days On Market: 17
985 Montgomery Street, San Carlos
List $669,999 Sold for $675,000 (+1%)
Days On Market: 6
204 Topaz Street, Redwood City (+2%)
List $769,000 Sold for $785,000
Days On Market: 13
452 Wellington Drive, San Carlos
List $789,000 Sold for $827,500 (+5%)
Days On Market: 11
My original comments on this home: If this isn’t gone by the time you read this, run—don’t walk—to see this home. Proabably best value for its size in SC.
1286 Foothill Street, Redwood City
Original $930,000 Sold for $930,000 (-0-)
Days On Market: 9
1817 Madison Avenue, Redwood City (-1%)
Original $965,000 Sold for $955,000
Days On Market: 18
51 Inyo Place, Redwood City (-2%)
List $1,020,000 Sold for $1,001,500
Days On Market: 8
720 Alameda De Las Pulgas, Belmont
List $1,037,900 Sold for $1,037,900 (-0-)
Days On Market: 11
2048 Maryland Street, Redwood City
List $1,049,000, then reduced to $949,000 Sold for $912,000 (-4% from reduced price)
Days On Market: 63
99 Devonshire Boulevard, San Carlos
List $1,058,000 Sold for $1,047,405 (-1%)
Days On Market: 14
342 Beresford Avenue, Redwood City
Original $1,695,000 Sold for $1,615,000 (-5%)
Days On Market: 49
110 Emerald Estates Court, Redwood City
List $2,295,000 Sold for $2,275,000 (-1%)
Days On Market: 25
130 Emerald Estates Court, Redwood City
List $2,795,000 Sold for $2,725,000 (-2.5%)
Days On Market: 37
Steve McB said:
I wonder how Redfin calculates Days on Market. I checked out many of these homes on Zillow, and a realtor posted them long before they seemed to be on Redfin. As a consequence, some of their days of market were 30 or more days greater. Thanks.
December 31, 2007 10:50 AM
susan.brady said:
Steve - the DOM figures for sold homes comes from MLS, not from Redfin. It is calculated from the day the home listed to the day the home sold. Zillow may be using a figure that shows the day the home was reported sold, which can be weeks later. For new listings or updates, I do use Redfin DOM, and if you find those 30 days or more in error, do point them out to me and I will research them.
December 31, 2007 11:46 AM