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Is Redwood City Still a Good Place to Buy in 2022?

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Prior to the pandemic, Redwood City had a bustling economy fuelled by tech sector employees that helped to support thriving businesses in retail, dining, and personal services.

Those tech workers are still there, but other industries in the area have been slower to recover due to many people working and spending more of their free time at home. However, California’s economy is fully open today and the workers who supported the economy are still living and working in the area. If you enjoy living in a vibrant community, you may want to consider homes for sale in Redwood City, CA.

Although many experts predicted that tech workers would move out of the Bay Area during the pandemic, instead there was an increased interest in local real estate. People who were previously renting or living in smaller spaces decided to buy. In fact, prices increased over the past year due to demand exceeding the number of homes available. Given its proximity to San Francisco, San Jose, and Stanford University, many families started looking for homes for sale in Redwood City.

San Mateo County has been one of the most desirable areas during the recent housing boom with single-family home prices in November 2021, up almost 35% over the past year. However, experts believe those large price increases will moderate over the next year. Meanwhile, buyers can take advantage of historically low-interest rates right now. Rates are expected to rise approximately .5% on a 30-year fixed-rate mortgage over the next year according to the National Association of Realtor’s Chief Economist Lawrence Yun.

What about Redwood Shores?

If you are looking for a quieter neighborhood, you might consider a home for sale in Redwood Shores, CA. Redwood Shores is a primarily residential waterfront area with plenty of nature and only a short drive from the amenities of Redwood City.

What does this mean for sellers?

Currently, the Bay area is a seller’s market. If you have a Redwood City or Redwood Shores house for sale, this may be an excellent opportunity for you to obtain a good price for your asset given the number of motivated buyers. A realtor can assist you in selling or buying your next dream home.

Aria Vatankhah
Founder of Milad Real Estate
Real Estate Broker/Attorney at Law.
"Our focus is on YOU, to help you achieve your real estate goals."


Phone: 650-799-8168
Fax: 650-391-9615
Email: aria@miladrealestate.com

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