Redfin’s new neighborhood price trends feature

It seems that Redfin is getting fancy shmancy with their data . Right now you can search for a city and get inventory and pricing trends for the past couple years. I have to say that this tool is quite hypnotizing. I have linked the San Mateo Cities here for quick reference:

Atherton – Atherton’s inventory and price levels are staying pretty steady. The reason is that very few people can afford anything there anyway.

Belmont – Belmont is another city where inventory is barely up, and prices are donig okay.

Brisbane – This is another city with very little inventory. Prices for single family homes seem to have come down.

Burlingame – This is another $1 million plus city so inventory is fairly low.

Colma - Inventory tripled in Colma, but the sample size is very smal.

Daly City – Price per square foot has fallen about 30% in Daly City since 2006, and the inventory has grown quite a bit. The graphs are very telling in this city.

East Palo Alto – Price per square foot is down 40% to 50% in this city, and inventory almost quadrupled. Ouch. This is like the Modesto of San Mateo County.

Foster City – Prices in Foster City seems to be similar to 2006 and the peak looks to be early 2007. The amount of condos on the market is definitely increasing quite a bit.

Half Moon Bay – The interesting thing about Half Moon Bay is that the sales price seem to be much lower than the list prices. The inventory is about double its lowest point.

Hillsborough - Hillsborough is kind of like Atherton North. Price per square foot actually went up in this expensive burb.

Menlo Park – Menlo’s inventory is only up about 25%, but its price per square foot fell quite a bit.

Millbrae - Millbrae’s inventory went up at least 50%, but prices are holding steady because it is an expensive market.

Pacifica - Pacifica’s figures are similar to Menlo. Price per square foot is down quite a bit, and inventory is climbing, but not extremely drastically.

Redwood City – Redwood City’s inventory is about 5 times its lowest point, and prices are down about 20%. Most of the falling inventory is in zipcode 94063.

San Bruno - San Bruno’s graphs sort of look like Daly City’s. Inventory has more than doubled and prices have come down at least 30%.

San Carlos - San Carlos is like a more expensive version of Belmont. Inventory is up about 50%, but the prices are holding steady.

San Mateo – Inventory has more than doubled, and prices are down about 20 to 30%.

South San Francisco – Inventory is up about 5 fold from its lowest point and price is down 20 to 30%.

That’s the state of things right now. I’m pretty sure the inventory will continue to pile up all the way through next year since very few homes are moving. Anyway, this tool is quite useful since Redfin actually pulls MLS data. Have fun with it!

August 14, 2008 | Filed Under All Cities 

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