Price Reductions Taking Place on the Mid-Peninsula
There is a 15% increase in price reductions this week over last, with the average reduction up to 5.25%. While there were no reductions on heavy hitters this week (over $2,000,000), there is an increase in price reductions on the lower end homes. One surprise, which I took out of the reduction equation just for its sheer gall and uniqueness, is a home at 6 Monte Cresta Court in Belmont which had a pending sale that fell through. When the realtor put the home back as active status, the price was actually increased by 11% to $1,280,000. The realtor was careful to mention that the sale fell through due to no fault of the homeowner, but still…an increase in price in today’s market? Very strange indeed.
BY CITY
Redwood City 12 ↑
San Carlos 6 ↑
Belmont 3 ↓
Total 18
REDUCTION PERCENTAGES
Lowest 1.5% ↑
Highest 12% ↔
Average 5.25% ≠
LISTING PRICES
Under $1,000,000 13 ↑
Over $1,000,000 8 ↑
Over $2,000,000 0 ↓
DAYS ON MARKET
Least 18
Most 115
Average 47.4
The most deeply discounted homes are available after the jump.
233 MOLTON AVENUE, San Carlos (-12%)
Listed for $899,000 Original $1.025,000
Bedroom: 2 Bathroom: 1 Sq. Feet: 1140
List Date: 6/27/2007
1103 17TH AVENUE, Redwood City (-9%)
Listed for $999,000 Original $1,100,000
Bedroom: 2 Bathroom: 2 Sq. Feet: 1490
List Date: 7/6/2007
809 NORTH ROAD, Belmont (-8%)
Listed for $830,000 Original $900,000
Bedroom: 3 Bathroom: 1 1/2 Sq. Feet: 1160
List Date: 6/1/2007
203 RUTHERFORD AVENUE, Redwood City (-8%)
Listed for $829,000 Original $899,000
Bedroom: 3 Bathroom: 2 Sq. Feet: 1100
List Date: 7/9/2007
708 ROOSEVELT AVENUE, Redwood City (-7%)
Listed for $735,000 Original $788,888
Bedroom: 3 Bathroom: 2 Sq. Feet: 1475
List Date: 5/19/2007
1321 CRESTVIEW DRIVE, San Carlos (-7%)
Listed for $1,259,000 Original $1,349,000
Bedroom: 4 Bathroom: 2 Sq. Feet: 2050
List Date: 6/19/2007
