Redwood City Market Update: August 3, 2026

This Week in Redwood City (Single-family homes, including Redwood Shores | Week of July 28 – August 3, 2026)

This week at a glance:

• 10 new listings, including 2 members-only listings not publicly visible on MLS
• 4 price cuts
• 6 new pending
• 2 new contingent
• 8 sold
• 1 listing expired, 1 relisted; 0 withdrawn, 0 canceled

The market in one line: Buyers pushed six of this week's eight closings over asking, but 10 new listings against 6 new pendings (plus 2 contingent) kept supply a step ahead of demand — and the Market Action Index slipping to 60 from 64 last month says the seller's edge is narrowing.

1. Affordability

Rates Hold Near Long-Term Highs While List Prices Ease

The median list price for Redwood City single-family homes is $2,100,000 this week, with price per square foot at $1,190 (Altos Research, 8/3/2026). Altos's own narrative notes that “prices have not yet stopped falling” even though the market technically sits in Seller's territory, and expects prices to “level off very soon” if the current sales pace holds (Altos Research, 8/3/2026).

Rates are holding near their long-term highs. The 30-year fixed sits at 6.83%, the 15-year at 6.32%, and the 30-year jumbo at 6.91% (Mortgage News Daily, 7/31/2026) — all within a couple points of their 52-week highs (6.85% for the 30-year fixed). With nearly every Redwood City purchase requiring a jumbo loan, financing cost remains a real drag on affordability even as list prices soften.

2. Supply

10 New Listings, 4 Price Cuts, and 69 Actives

Ten homes came to market this week, including 2 members-only listings not publicly visible on MLS (MLS). Four listings took price cuts, ranging from 1.6% (322 1st Avenue) to 4.0% (504 Waterlily Lane). One listing expired (608 Marlin Court, after 230 days on market) and one came back on the market (926 Iris Street).

Total active inventory stands at 56 standard MLS listings plus 13 members-only listings, for a combined 69 active single-family homes (MLS). Altos shows inventory at 61, consistent with recent weeks (Altos Research, 8/3/2026). Altos also reports that 26% of active listings have taken a price cut versus 0% that have increased and 7% that were relisted — a sign that, cumulatively, sellers are adjusting far more than they're testing the market upward (Altos Research, 8/3/2026).

3. Demand

6 New Pendings and 2 Contingent Against 10 New Listings

Six homes went pending this week and two more moved to contingent status — 8 total under contract against 10 new listings (MLS). That's close to a 1:1 absorption ratio: better than a market flooded with unsold inventory, but not the lopsided demand of a hot seller's market either. The Market Action Index sits at 60, down from 64 last month (Altos Research, 8/3/2026) — still technically seller's territory, but the softening trend is the thing to watch in the coming weeks.

Some of the week's contracts were long-sitting listings finally finding buyers: 2004 Gossamer Avenue at 119 days, 8 Friendly Court at 83 days (contingent), and 428 Santa Clara Avenue at 50 days. As in recent weeks, stale inventory is moving — just not quickly, and usually only after a price adjustment.

4. Market Behavior

Fresh Homes Sell Fast and Strong; Stale Homes Take a Discount

Altos reports a median DOM of 28 and an average of 99 (Altos Research, 8/3/2026) — a 71-day spread that's even wider than recent weeks and reinforces the split market: new listings move quickly while older inventory drags the average up.

Looking at the 56 standard active listings today (MLS):

• 0 to 7 days: 8 listings
• 8 to 14 days: 17 listings
• 15 to 30 days: 8 listings
• 31 or more days: 23 listings

An additional 13 members-only listings carry no DOM data. Unlike some recent weeks, the 8-to-14-day bucket is actually the fullest right now — a wave of homes listed in mid-July hasn't yet cleared — while the 31+ day pile (23 listings, 41% of standard actives) keeps growing.

Eight homes closed this week: 6 over list, 0 at list, and 2 under. Average sale-to-list ratio was 103.0%, median 102.3% (MLS). The strongest results were 1223 Saint Francis Street at 109.7% of list and 611 Hillcrest Drive at 109.2%. On the other end, 519 Lakemead Way closed at 98.8% after 16 days, and 503 Buena Vista Avenue — newly listed and sold within the same week — closed at 97.1%. Notably, 326 Commander Lane, on the market 83 days and cut once along the way, still closed at 100.6% of its reduced list price: proof that even stale listings clear once sellers meet the market (MLS).

Bottom line

The MAI at 60, down from 64 last month, still says seller's market — but just barely. Ten new listings against 8 pendings is close to balanced, not the lopsided demand of a hot market. Fresh, well-priced homes are still getting strong results — six of eight solds went over asking. But the stale side of the inventory, now 23 listings at 31-plus days (41% of standard actives), keeps accumulating, and Altos's own read is that prices haven't stopped softening yet.

What to watch

Watch whether the MAI keeps drifting down from 60 — Altos already flags a decline from 64 a month ago, and further softening would tip the narrative from “seller's market, barely” to genuinely balanced. Also watch the 31+ day bucket: if it keeps growing relative to the 0-14 day buckets, expect more price cuts in the weeks ahead.

The Past Month in Redwood City (July 1 – August 3, 2026)

Zooming out to the past five weeks fills in the trend behind this week's snapshot.

Since July 1, MLS activity for Redwood City and Redwood Shores single-family homes shows:

• 40 new listings
• 54 sold
• 25 new pending
• 3 new contingent
• 10 price cuts
• 11 listings left the market: 5 canceled, 4 expired, 2 withdrawn
• 2 relisted (back on market)

More sellers left the market than usual this month — 11 listings canceled, expired, or withdrew, several after sitting a long time: 608 Marlin Court (230 days), 3693 Highland Avenue (224 days), and 1235 Edgewood Road (153 days) among them. That's a meaningful share of the market simply giving up rather than adjusting price.

On the sold side, the 54 closings over the month averaged 106.6% of list price (median 101.7%), with 36 selling over asking, 2 at asking, and 16 under (MLS). The standout was 567 Sapphire Street, which sold at 150.1% of list — $2,400,000 on a $1,599,000 ask, in just 11 days — followed by 488 Sapphire Street at 136.1% and 170 Grand Street at 135.4%. On the discounted end, 313 Lakeview Way closed at 85.3% of list after 34 days, and 1955 Edgewood Road at 88.9% after 28 days.

Ten listings took price cuts over the month, led by 2204 Roosevelt Avenue at 8.3% (from $2,180,000 to $1,999,999 after 95 days on market) and 1615 Edgewood Road at 5.7%. Several long-sitting listings went under contract soon after those adjustments — 2004 Gossamer Avenue (119 days), 3021 Glendale Avenue (47 days), and 25 Woodhue Court (42 days) among them — the same pattern the weekly numbers show: price is what moves stale inventory.

Sources: MLS (Redwood City and Redwood Shores single-family homes, including members-only listings), Altos Research (8/3/2026), Mortgage News Daily (7/31/2026)

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