The prices in real estate in Redwood City, in the California region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Redwood City has increased strongly during the last 6 months. In February, the average price per sq.feet was $805. In the following month the price per sq.feet increased to $853. The price for the following two months in (April, May) had a considerable increment of 181 %. The price per sq.feet has decreased 85 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $1,165.25 to $991.5 during June, and July.
Based upon to the price in Redwood City (cities), this has gone up in the last 6 months. The average price for February is $1,642,443. During March the price had a slight fall till $1,544,564. During the following two months (April, May) the average price had a considerable increase of 118 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 107 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $1,740,913 they are 24 % more affordable than the average price for Redwood City. The properties with the highest average price have 4 bedrooms, Their price is 52 % more costly than the average. After that we have properties with 3 bedrooms priced at $1,923,504.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $879 / sq.feet, with an average $944 / sq.feet price in Redwood City. The properties with the highest average prices have 1 bedroom. They are 140 % more expensive than the average followed by properties with 2 bedrooms with a price at $1,400 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $1,740,913 it is 42 % cheaper than the average price in Redwood City. "Office" is seen as the second most affordable property type. The dearest property type is "House" followed by "Duplex". At a price of $1,918,351 it is 19 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $829 / sq.feet followed by "Townhouse" priced at $880 / sq.feet. "Duplex" is the most costly type of property with a $3,877 / sq.feet cost followed by "Office" with an average price of $2,038 / sq.feet.