• Recent Sales Activity in Edgewood Park

    It’s been a decent enough market, by Edgewood Park standards anyway.  Here’s some of the numbers for the statistics junkies out there:

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    • 10 homes have closed to date so far in 2010 (4 in the last 3 months)
    • the average days on market is currently 48 days but heavily skewed by a couple homes that were on the market for over 130 days each, and a few others that were relisted and sold quickly
    • the average $/sq. ft. for homes sold is roughly $537/sf
    • the average % of list price received (compared to sale price) is 98%

    And how does this compare with 2009?

    • 13 homes sold total
    • the average days on market was 65 days
    • the average $/sq. ft. for homes sold was roughly $588/sf
    • the average % of list price received (compared to sale price) was 97%

    What hasn’t changed is the high-end homes that have been languishing on the market at a running average of 137 days on market (so far!).  I wish I had an easy answer for those sellers. These homes are stately, gorgeous, and BIG — unfortunately, unless someone proves me wrong, there’s not a huge pool of buyers around that $2M mark that are looking in Redwood City right now (let alone on a not so quiet street). There’s buyers out there for sure, but they’re taking their money north and south of here.  Does that mean prices should come down? Mmm, not really, not without denigrating the value of Edgewood Park (and I don’t honestly foresee that happening).  However, this is a market of basic economic truths: supply, and demand.  We got supply…the viagra price online demand?

    This entry was posted on Thursday, October 21st, 2010 at 10:28 pm and is filed under Redwood City. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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