Redwood City Market Update: April 27
This Week in Redwood City
(Single-family homes only | Week of April 27, 2026)
This week at a glance:
- 13 new listings
- 8 price cuts
- 23 new pending
- 1 new contingent
- 16 sold
- 0 canceled
The market in one line: Demand is outrunning new supply by nearly 2:1, the Market Action Index hit 62, and the two-market dynamic is sharpening — but stale inventory is finally starting to move, just only after sellers make real price adjustments.
1. Affordability
Rates Remain in the Mid-6% Range in a Market Where $2M Is the Starting Line
The median list price sits at $2,333,444 this week, with new listings coming in notably higher at $2,769,500 (Altos Research, 4/27/2026). Price per square foot is holding at $1,156, essentially flat, suggesting the new inventory skews larger rather than more expensive per foot (Altos Research, 4/27/2026).
The 30-year fixed rate is 6.32%, the 15-year is 5.92%, and the 30-year jumbo sits at 6.52% as of April 23 (Mortgage News Daily). Jumbo rates have edged down from 6.60% two weeks ago, a modest improvement for buyers financing at Redwood City price points where virtually every transaction requires a jumbo loan.
2. Supply
13 New Listings, 8 Price Cuts — The Stale Inventory Is Finally Blinking
Only 13 new listings came to market this week, while 8 existing listings took price reductions (MLS). That ratio is worth pausing on — more than one price cut for every two new listings signals that a meaningful portion of active inventory has been sitting long enough that sellers are now adjusting. Several cuts were significant: 16 Hillview Avenue dropped 20%, 36 Gretel Court cut 9.4%, and 620 Vera Avenue came down 7.7%. These are meaningful price improvements (MLS).
Total active inventory sits at 44 single-family homes, with 31 currently pending and 6 contingent (MLS).
3. Demand
Buyers Are Selective But Active. Fresh Homes Are Moving Fast.
Twenty-three homes went pending this week against just 13 new listings — nearly 2:1 demand over new supply (MLS). The Market Action Index climbed to 62, up from 59 two weeks ago and continuing a multi-week upward trend. Altos notes that home sales are outstripping supply and warns of upward pricing pressure ahead if the trend continues (Altos Research, 4/27/2026).
Of the 23 new pendings, 16 went under contract within 14 days of listing. Seven took longer, including 36 Loma Road at 42 days, 792 8th Ave at 42 days, and 716 Newport Circle at 39 days. Notably, most of those stale pendings had taken price cuts before going under contract — they moved, but only after sellers met the market (MLS).
4. Market Behavior
The Gap Is Widening, But Stale Inventory Is Starting to Move on Its Own Terms
Altos reports a median DOM of 21 and an average of 88 — a spread that keeps growing as fresh inventory turns quickly and older listings accumulate days (Altos Research, 4/27/2026).
Looking at the 44 active listings today (MLS):
- 0 to 7 days: 10 listings
- 8 to 14 days: 3 listings
- 15 to 30 days: 10 listings
- 31 or more days: 21 listings
Nearly half of active inventory has been sitting over a month. But this week's data adds a layer to that story: several of those longer-sitting homes did go pending, after price adjustments. It is not that buyers are ignoring stale inventory — it is that they are waiting for sellers to come to them.
The sold data reinforces what happens when pricing is right from the start. Sixteen homes closed this week: 13 over list, 1 at list, and 2 under. The average sale-to-list ratio was 109%, with a median of 108% (MLS). The standout was 108 Inner Circle, which sold at 122% of list. 754 Castle Hill Road and 2130 Madison Avenue both closed at 121% and 121%, respectively. The two that sold under list, including 1005 Cardiff Lane at 95%, had each been on the market longer than the median (MLS).
Bottom line
Redwood City's seller's market is strengthening, not softening. The MAI is climbing, pending activity is well ahead of new supply, and homes priced right are closing well above asking. The stale side of the market is beginning to clear, but only on buyers' terms — after real price adjustments, not minor ones.
What to watch: With the MAI at 62 and inventory tightening to 44 active listings, Altos is flagging upward pricing pressure ahead. If new listings don't accelerate meaningfully in the next two to three weeks, expect competition on fresh inventory to intensify further. The sellers who price well from day one will continue to have the best outcomes.
Sources: MLS (Redwood City and Redwood Shores single-family homes), Altos Research (4/27/2026), Mortgage News Daily (4/27/2026)
