What’s Selling and For How Much?

I took a gander at the single-family home sales on the Mid-Peninsula for last week (November 26-December 2) and was pleasantly surprised. There were 24 closed sales reported for the week, more than we have seen in a long time. And while there is a higher than normal percentage of sales in San Carlos and Belmont, there are fewer home selling at or above their asking price. So it seems that more buyers are taking advantage of market conditions and are able to pay less than list; not significantly less than list, but a price cut is a price cut, in any form. Here is how the sales shake down:

Redwood City: 10
San Carlos: 5
Belmont: 9
TOTAL 24

Price
High: $2,000,000 (gotta love those even numbers!)
Low: $641,000
Average: $1,062,458
Homes Above $1mil: 11

DOM:
High: 109
Low: 3
Average: 41

List vs. Sales Price
Sold Above Asking: 2
Sold At Asking: 4
Sold Below Asking: 18
High: +3.5%
Low: -14%
Average: -3.6%