Redwood City Market Update: June 1, 2026
This Week in Redwood City (Single-family homes, including Redwood Shores | Week of June 1, 2026)
This week at a glance:
- 25 new listings
- 7 price cuts, 1 price increase
- 22 new pending
- 4 new contingent
- 10 sold
- 3 canceled
The market in one line: The Market Action Index bounced back to 62, median list prices hit an all-time high, and buyers kept competing hard. The market re-accelerated after two weeks of mixed signals.
1. Affordability
Rates Holding in the Mid-6% Range as Prices Hit a New High
The median list price reached $2,595,000 this week, an all-time high per Altos Research, with new listings coming in lower at $1,860,000 (Altos Research, 6/1/2026). That gap between overall median and new listing median reflects the mix of inventory. Higher-priced homes sitting in the active pool pull the overall number up while fresh listings skew lower. Price per square foot holds at $1,235 (Altos Research, 6/1/2026).
The 30-year fixed rate is 6.60%, the 15-year at 6.10%, and the 30-year jumbo at 6.70% (Mortgage News Daily, 6/1/2026). Rates have been range-bound in the mid-6% range for several weeks. In a market where nearly every transaction requires a jumbo loan, the stability matters more than the level right now. Buyers have had time to underwrite to these numbers.
2. Supply
25 New Listings and 7 Price Cuts — Two Different Seller Mindsets
Twenty-five homes came to market this week, the most active new listing week we have tracked this spring (MLS). Seven took price cuts and one raised its price. Total standard active inventory stands at 56 homes, with an additional 11 members-only listings not publicly visible on MLS, for a combined 67 active single-family homes (MLS). Altos shows inventory holding steady around 55, consistent with where it has been for the past few weeks (Altos Research, 6/1/2026).
The 7 price cuts are worth watching. On a week with 25 new listings, that ratio tells you a meaningful portion of existing inventory has been sitting long enough that sellers are starting to move. The price increase reflects a seller still testing the ceiling.
3. Demand
The MAI Bounced Back — Buyers Are Still Active
Twenty-two homes went pending this week and four went contingent, for 26 combined absorption events against 25 new listings (MLS). The Market Action Index rebounded to 62, up from 59 two weeks ago and above last month's reading of 60. Altos describes the market as getting hotter, with sales demand exceeding supply and no signs of prices changing direction (Altos Research, 6/1/2026).
Of the 22 new pendings, 14 went under contract within 14 days of listing. Eight were stale, including 36 Gretel Court at 69 days on market, a home that finally found a buyer after two months. When stale inventory moves, it usually means a price adjustment happened or a buyer decided the value was there. Either way, it is a sign the market is absorbing across the board, not just on fresh listings.
4. Market Behavior
All-Time High Prices, 109% Average Sale-to-List — The Strong Side Is Very Strong
Altos reports a median DOM of 21 and an average of 88 (Altos Research, 6/1/2026). The gap persists, but the sold data this week leans decisively toward the competitive end of the market.
Looking at the 56 standard active listings today (MLS):
- 0 to 7 days: 17 listings
- 8 to 14 days: 7 listings
- 15 to 30 days: 12 listings
- 31 or more days: 23 listings
An additional 11 members-only listings carry no DOM data. Of standard inventory, 41% has been sitting over a month.
Ten homes closed this week: 8 over list, 0 at list, and 2 under. The average sale-to-list ratio was 109%, with a median of 110% (MLS). The standout was 2666 Hampton Avenue, which sold at 126% of list in just 10 days. Three others closed between 111% and 118%. The two that sold under list, 1627 Kentucky Street at 99% and 91 Waterside Circle at 96%, had each been on the market 35 days, consistent with the pattern we have tracked all spring: time on market eventually extracts a price (MLS).
Bottom line
The mixed signals from two weeks ago look like a blip. The MAI is back at 62, prices hit an all-time high, and the sold data is as strong as it has been all spring. The stale inventory is real and growing, but the fresh side of the market is competing fiercely. The gap between the two is not closing. It is defining the market.
What to watch
With 25 new listings this week and the MAI holding at 62, the next two to three weeks will show whether supply and demand stay in balance or whether inventory starts to build again. Seven price cuts on 25 new listings is a ratio worth monitoring. If that number climbs week over week, it signals the ceiling on seller pricing power is lower than the all-time high median suggests.
Sources: MLS (Redwood City and Redwood Shores single-family homes, including members-only listings), Altos Research (6/1/2026), Mortgage News Daily (6/1/2026)
