Yep, we are definitely seeing a slowdown. October brought us 19 sales the first week, 15 the second week and 14 during the third week. In addition, 11 of the most recent 14 were sold at or below asking price, which probably made buyers happy, but sellers frowning. Property did move quickly though, with 8 of the 14 selling in less than 30 days, and average DOM being 26 days. I’m thinking that sellers are becoming more realistic and know that multiple reductions will be in order the longer their home sits on the market. Amongst all the angst, there was one very bright star during this week: 1601 Vine Street in Belmont sold for $1,699,995, which is $500,000 above the asking price. Yes, I double and triple checked the original listing price and it was $1,169,995. My personal notes show that I thought it was overpriced, but just goes to show you that the market is a finicky one, and you never know what a buyer has in mind.
631 UPLAND ROAD, Redwood City List $1,175,000 Sold for $1,100,000 DOM: 23
510 MARINE VIEW STREET, Belmont List $739,000, then reduced to $695,000 Sold for $675,000 DOM: 60
9 ALDERLEE WAY, San Carlos List $1,625,000 Sold for $1,625,000 DOM: 34
1029 TAFT STREET, Redwood City List $694,500 Sold for $694,500 DOM: 26
1764 WEST SELBY LANE, Redwood City List $1,535,000 Sold for $1,490,003 DOM: 23
163 NORMANDY COURT, San Carlos List $1,995,000 Sold for $1,995,000 DOM: 10
3812 HARVEST DRIVE, Redwood City List $1,325,000 Sold for $1,338,000 DOM: 9
829 COVINGTON ROAD, Belmont List $1,149,950 Sold for $1,100,000 DOM: 38
1627 MADDUX DRIVE, Redwood City List $899,500 Sold for $912,000 DOM: 15
1088 HEWITT DRIVE, San Carlos List $899,000 Sold for $888,000 DOM: 10
1911 ROOSEVELT AVENUE, Redwood City List $749,000 Sold for $720,000 DOM: 78
266 CEDAR STREET, San Carlos List $799,000 Sold for $765,000 DOM: 36
949 CAMBRIDGE ROAD, Redwood City List $1,299,000 reduced to $1,275,000 Sold for $1,245,000 DOM: 64
1601 VINE STREET, Belmont List $1,169,950 Sold for $1,699,995 DOM: 12
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