Mid-Pen Roller Coaster: New Home Listings
It’s been quite a ride over the last 6 weeks. Listings at the end of August were at an all time low, then doubled, staying within a steady range, then dropping and rising again. Hard to keep up.
Last week we saw a dramatic drop in new listings, from 45 down to 21. This week brings us 28 listings, with the big change being the number under the $1mil mark. The lower-end properties outweigh the higher 16 to 12. Belmont and San Carlos continue on the miserly trend of only putting a few houses on the market, with 3 in Belmont and 5 in San Carlos. In contrast, Redwood City logged 20 newbies.
We have three properties that are relistings this week:
19 Bennett Road, Redwood City: Originally listed the last week of July for $3,795,000. Located in a newer upscale development off Cordilleras, this is a gorgeous 4486 sf, 5 bedroom, 4+ bath home. Listing states that over $4.5 mil has been invested, so someone is taking a big loss here. One problem is that the front of the home overlooks two street level water towers. Not the kind of view you pay the current price of $3.2 mil for. Also FYI, there are 2 more homes on this street on the market.
10 Sienna Court, Redwood City: Just on the other side of those water towers, off Oak Knoll, are 4 new homes on Sienna Court. This 3537 sf, 4/4+ home was originally listed on 6/15 for $2,349,000. It was reduced on 8/30 to $2,249,000 and again on 9/27 to $2,149,000. It is relisted at the last price of $2,149,000.
Also in the same neighborhood is 766 Canyon, Redwood City, a 2450 sf multistory home with 4 bedrooms and 3.5 baths. Originally listed on 6/8 fpr $,349,000, it was reduced to $1,299,000 in late July, then in early September reduced again to $1,249,000. It is back on the market at $1,239,000.
As for our northern neighbors in San Mateo, there are 35 new listings in the last 7 days, ranging in price from a $429,950 condo located at 626 Mariner’s Island Blvd. (which will be open this Sunday) to a $1,750,000 single family home at 669 Barneson in the Foothill Terrace neighborhood, off Highway 92 (also open this Sunday). Only 5 of the 35 are over $1mil, and the homes are pretty evenly split on both sides of Highway 101.
