Sales Drought on the Mid-Peninsula

While there was an increase in listings during the period of January 28th to February 11th (see the post “The Floodgates Have Opened“), there was a severe decrease in the sales reported for that period, as well as the week prior. I was completely underwhelmed and disheartened, as I am sure all sellers out there are; only 19 SFRs in the tri-city area in that three-week period, ranging in price from $406,000 to $1,750,000. Thirteen of the homes sold for less than asking, with a range of -.25 to -19%, three sold at asking, and three sold for over. The big winner was a home in San Carlos that sold for 20% over asking!

I’ve seen lots of pending sales in the last few weeks, so I imagine that this drought isn’t a trend, but it is disconcerting nonetheless. Here are the recent sales:

drought.jpg629 MACARTHUR AVENUE, Redwood City
List $499,000 Sold for $406,000 (-19%) DOM: 81

516 MACARTHUR AVENUE, Redwood City
List $415,000 Sold for $414,000 (-.25%) DOM: 21

1525 HESS ROAD, Redwood City
List $500,000 Sold for $500,000 (0) DOM: 3

1861 BELBURN DRIVE, Belmont
List $599,000 Sold for $550,000 (-8%) DOM: 42

327 A STREET, Redwood City
List $699,000 Sold for $600,000 (-14%) DOM: 120

307 A STREET, Redwood City
List $699,000 Sold for $647,000 (-7.5%) DOM: 38

2520 BUENA VISTA AVENUE, Belmont
List $779,000 Sold for $750,000 (-4%) DOM: 11

1868 LENOLT STREET, Redwood City
List $789,000 Sold for $765,000 (-3%) DOM: 82

2308 SAN CARLOS AVENUE, San Carlos
List $810,000 Sold for $775,000 (-4.5%) DOM: 77

167 FINGER AVENUE, Redwood City
List $799,000 Sold for $800,000 (+.001%) DOM: 12

368 CLIFTON AVENUE, San Carlos
List $869,500 Sold for $815,000 (-6%) DOM: 69

2704 CORONET BOULEVARD, Belmont
List $829,000 Sold for $829,000 (-0-) DOM: 37

363 FULTON STREET, Redwood City
List $969,900 Sold for $945,000 (-3.5%) DOM: 44

204 BAYTREE ROAD, San Carlos
List $1,150,000 Sold for $1,170,000 (+1.7%) DOM: 38

1744 ARROYO AVENUE, San Carlos
List $1,039,000 Sold for $1,251,000 (+20%) DOM: 6

10 BENNETT ROAD, Redwood City
List $1,450,000 Sold for $1,229,000 (-15%) DOM: 90

126 INNER CIRCLE, Redwood City
List $1,350,000 Sold for $1,325,000 (-1%) DOM: 53

37 WOODHILL DRIVE, Redwood City
List $1,895,000 Sold for $1,700,000 (-10%) DOM: 86

1939 BIRCH AVENUE, San Carlos
List $1,750,000 Sold for $1,750,000 (0) DOM: 7