Mid-Peninsula Mid-Summer Price Slashes in Full Swing

It’s that time of year again. Mid-summer means price reductions in real estate. Sellers know that this is the prime selling time and people generally want to move before children start school and the weather gets bad. Selling now is prime, as you have to account for negotiations and escrow, which combine generally take 30-35 days at minimum. That puts us mid-August, just a week or two before school starts.

True to form, sellers are making an effort to sell their properties by lowering prices. During the first week of July, there were 22 price reductions on single family homes along the Mid-Peninsula ranging from 1.5% (pitiful) to 25% (woohoo!), with the average being 9.29%. Nine of the homes are in multiple reduction mode and 9 of the properties have been lingering on the market over 60 days.

I’ll list the double digit reductions on this page, but the remaining 11 are available with links after the jump.

614 WARRINGTON AVENUE, Redwood City
Original $399,000 Reduced to $360,000, then $330,000, Now $300,000 (-25%)
2/1 Sq. Feet: 760 DOM: 94
Lender approval required short sale

1835 ROOSEVELT AVENUE, Redwood City
Original $820,000 Reduced to $799,888, then $699,888, Now $649,000 (-21%)
4/2.5 Sq. Feet: 1670 DOM: 218

541 MONTWOOD CIRCLE, Redwood City
Original $1,249,500 Reduced to $1,124,500, Now $1,024,000 (-18%)
3/2 Sq. Feet: 1840 DOM: 77

670 MACARTHUR AVENUE, Redwood City
Original $620,000 Reduced to $595,000 then $555,000, Now $525,000 (-15.5)
3/1 Sq. Feet: 1000 DOM: 88

948 CHERRY STREET, San Carlos
Original $790,000 Reduced to $680,000 (-14%)
3/2 Sq. Feet: 1120 DOM: 55
Short Sale.

165 MADERA AVENUE, San Carlos
Original $1,150,000 Reduced to $999,800 (-13%)
3/2.5 Sq. Feet: 1600 DOM: 57

211 OAK AVENUE, Redwood
Original $559,900 with multiple reductions, Now $489,900 (-12.5%)
3/2 Sq. Feet: 1320 DOM: 71
Bank Owned (not a short sale)

1956 SAN CARLOS AVENUE, San Carlos
Original $759,900 Reduced to $699,000 (-12%)
3/1 Sq. Feet: 0 DOM: 30

537 WARRINGTON AVENUE, Redwood City
Original $340,000 Reduced to $323,000, Now $305,000 (-10%)
2/1 Sq. Feet: 760 DOM: 62
Lender approval required short sale

839 MOHICAN WAY, Redwood City
Original $1,325,000 Reduced to $1,299,000 then 1,275,000, Now $1,199,000 (-9.5%)
4/3 Sq. Feet: 2550 DOM: 172

3749 FARM HILL BOULEVARD, Redwood City
Original $1,588,000 Reduced to $1,498,000 (6%)
4/3.5 Sq. Feet: 3130 DOM: 39
OPEN Sunday 1:30-4:30 pm

1091 15TH AVENUE, Redwood City
Original $689,000 Reduced to $649,000 (-6%)
3/1.5 Sq. Feet: 1000 DOM: 5

227 ROCKRIDGE ROAD, San Carlos
Original $1,795,000 Reduced to $1,699,000 (-5.5%)
4/3 Sq. Feet: 2630 DOM: 86
OPEN Sunday 1-4 pm

249 GARNET AVENUE, San Carlos
Original $1,259,000 Reduced to $1,189,000 (-5.5%)
3/2 Sq. Feet: 1690 DOM: 31

911 7TH AVENUE, Redwood City
Original $464,000 Reduced to $440,000 (-5%)
3/2 Sq. Feet: 1100 DOM: 20

434 ALAMEDA DE LAS PULGAS, Redwood City
Original $739,000 Reduced to $719,900, Now $699,900 (-5%)
3/1 Sq. Feet: 1130 DOM: 51

15 KITTIE LANE, Belmont
Original $999,000 Reduced to $950,000 (-5%)
4/3 Sq. Feet: 1900 DOM: 182

2031 WHIPPLE AVENUE, Redwood City
Original $1,350,000 Reduced to $1,348,000, then $1,198,000. Now $1,288,000 (-4.5%)
3/2.5 Sq. Feet: 2360 DOM: 53

1918 BREWSTER AVENUE, Redwood City
Original $1,249,500 Reduced to $1,198,000 (-4%)
4/1.5 Sq. Feet: 1920 DOM: 12

2674 BRIARFIELD AVENUE, Redwood City
Original $899,000 Reduced to $874,000 (-3%)
3/2 Sq. Feet: 1090 DOM: 24

639 ADAMS STREET, Redwood City
Original $399,000 Reduced to $385,000 (-3%)
2/2 Sq. Feet: 1180 DOM: 15

860 CHATSWORTH LANE, Redwood City ≈
Original $965,000 Reduced to $949,900 (-1.5%)
3/2.5 Sq. Feet: 1570 DOM: 24