Housing in Redwood City Skyrockets in Price

Prices of homes in Redwood City have gone up and the values have gone down.

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Housing in Redwood City Skyrockets in Price

A house in Redwood City

A house in Redwood City

Emma Kinder

A house in Redwood City

Emma Kinder

Emma Kinder

A house in Redwood City

Emma Kinder, Staff Writer

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Emma Kinder
A house in Redwood City.

The prices of homes in Redwood City have increased a significant amount over the past year. Also, the values of homes are decreased by -2.1% over the past year. 

The price of homes currently listed in Redwood City is $1,548,500, according to the website Zillow. The price of homes that sold is $1,421,800. The rent price is $4,200. That is higher than the San Francisco-Oakland-Hayward Metro of $3,300.

“[I would rather] buy. If you have enough for a down payment, which is typically 20% of the price of the house, and can afford a loan, buying is better for a couple reasons,” Kelly Cattaneo, a family friend, expressed.

Emma Kinder
A house in Redwood City.

Redwood City home values have declined by -2.1% over the past year. Zillow, a home value index, predicts the values will rise 0.3% within the next year.

“Since I bought my house over twenty years ago, my home has increased dramatically, so a slight dip for me doesn’t affect my equity.” Kristina Kinder, a family member, explained.

The list price in Redwood City per square foot is $968. That is higher than the San Francisco-Oakland-Hayward Metro average $501.

“[Buying a house] was a challenge. I was considered one of the up and coming areas which meant it was at the time reasonably priced, but values were rising.” Simon Hague, a family friend, said.

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