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.
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.