The Q4 2022 Redwood City Market | Redwood City Real Estate Market Review

Hey, this is Mlana Ostroy, the best real estate agent in Redwood City in California Bay Area who updates you on the Q4 2022 Redwood City real estate market review. If you're interested in selling or buying homes in this Redwood City neighborhood, let me tell you about the real estate market, what it's been doing, and where it's headed for San Mateo County sales in Q4 2022. Let's watch the Redwood City real estate market review. Learn more http://www.milanaostroy.com/

You can learn from this video, the real estate market in San Mateo County during the Q4 of 2022 demonstrated a typical seasonal trend of fewer listings sold and lower sold prices. However, the underlying reason for the market's sustainability is the reduction in inventory. Despite media reports of a market crash, the statistics show that the average price year-over-year lacks any significant change and the market is not crashing. It is taking longer to sell homes and the days on the market are reaching over 30 days.

In Portola valley, there was no slowdown between the third and Q4 of 2022 and in fact, there were more sales at a higher average sale price. This is partially due to an increase in the average property price per square foot.

In Redwood City, the market remained healthy and similar to the third quarter with no reaction to the usual seasonal market trends. The average price per square foot sold for $1.1 million, which is identical year-over-year. Redwood City also experienced 13 sales above $3.1 million, with the highest sale at just below $5 million.

2023 is expected to be an opportunistic year for home buyers and investors as low inventory will drive prices up in the near future and rates are expected to come down. Planning your next real estate move during the first quarter of 2023 is crucial for sellers looking for net cash profit and buyers looking for savings.

Reach out to discuss how these Redwood City real estate market trends can be applied to your situation and book a meeting through the provided Calendly link below.

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00:00 Intro
00:13 San Mateo County Sales in Q4 2022
00:42 San Mateo County Sales in 2021
01:14 The Redwood City Market Review
01:42 The Average Sales Price in Redwood City Homes
02:42 2023 is the Most Opportunistic Year for Investors
03:17 Outro

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