Redwood City Market Update: May 4
This Week in Redwood City
(Single-family homes, including Redwood Shores | Week of May 4, 2026)
This week at a glance:
- 20 new listings
- 3 price cuts, 1 price increase
- 7 new pending
- 1 new contingent
- 14 sold
- 1 canceled, 1 withdrawn
The market in one line: Supply surged to its highest single-week count this spring while pending activity pulled back sharply. The inventory picture is shifting, and the two-market dynamic is as wide as it has been all season.
1. Affordability
Rates Ticked Up This Week in a Market Where $2M Is Still the Starting Line
The median list price eased slightly to $2,298,000, with new listings coming in close at $2,264,000 (Altos Research, 5/4/2026). Price per square foot dropped to $1,101, down from $1,156 last week, with Altos noting that larger homes are entering the market and pulling the per-foot figure down even as overall prices hold relatively steady (Altos Research, 5/4/2026).
Rates moved higher this week, with the 30-year fixed now at 6.52%, the 15-year at 6.04%, and the 30-year jumbo at 6.62% (Mortgage News Daily, 5/4/2026). For buyers financing at Redwood City price points, the jumbo rate increase adds real carrying cost pressure on top of an already demanding entry price.
2. Supply
20 New Listings: The Most Active Week of the Spring
Twenty homes came to market this week, the highest single-week count we have tracked this spring (MLS). Price cuts remained low at three, and one listing raised its price this week. Total active inventory now stands at 56 single-family homes, up from 44 two weeks ago (MLS).
That inventory growth is worth watching. Over the past three weeks, active listings have climbed from 44 to 56 while pending activity has moderated. Not yet a trend, but a data point.
3. Demand
Buyers Pulled Back: 7 New Pendings Against 20 New Listings
Seven homes went pending this week and one went contingent, against 20 new listings coming on (MLS). That is a sharp contrast to the 2:1 demand over supply we saw two weeks ago. The Market Action Index held at 62, still firmly in seller's market territory and up from 60 last month (Altos Research, 5/4/2026).
Altos flags the same tension directly: prices have plateaued, and the direction of the MAI over the coming weeks will be the clearest signal of where the market is heading (Altos Research, 5/4/2026).
4. Market Behavior
The Two-Market Gap Is as Wide as It Has Been All Spring
Altos reports a median DOM of 28 and an average of 94, the widest spread we have seen since we started tracking (Altos Research, 5/4/2026).
Looking at the 56 active listings today (MLS):
- 0 to 7 days: 20 listings
- 8 to 14 days: 5 listings
- 15 to 30 days: 9 listings
- 31 or more days: 22 listings
Twenty homes are brand new to the market. Twenty-two have been sitting over a month. Buyers are either competing on fresh inventory or waiting for stale sellers to adjust, and there is not much in between.
Fourteen homes closed this week: 10 over list, 1 at list, and 3 under, with an average sale-to-list ratio of 106% and a median of 107% (MLS). Standouts include 2819 Carson Street at 119% of list in 9 days, 121 Inner Circle at 116% in 4 days, and 820 Revere Way at 116% in 9 days. On the other end, 746 6th Avenue sold at 88% of list after 65 days, and 419 Alameda de las Pulgas closed at 90% after 35 days (MLS). One home worth a specific mention: 416 Upton Street closed at $2,100,000, a clean outcome on a home that required patience and the right pricing strategy (MLS).
Bottom line
One week of slowing demand does not make a trend, especially with the MAI holding at 62. But the combination of rising inventory, moderating pending activity, and rate increases this week creates a picture worth watching carefully. The fresh side of the market is still performing well. The question over the next few weeks is whether new supply continues to outpace absorption, and whether the sellers sitting at 31-plus days finally make real adjustments.
What to watch
With 20 new listings arriving in a single week and only 7 going pending, watch whether absorption catches up over the next two to three weeks. If new listings keep arriving faster than they go under contract, expect the MAI to soften and price cut activity to pick up. The market is not turning, but the window for holding firm on price is narrowing for anyone outside the fresh inventory bucket.
Sources: MLS (Redwood City and Redwood Shores single-family homes), Altos Research (5/4/2026), Mortgage News Daily (5/4/2026)
