The combination of Easter and the final week of spring break seemed to keep the San Carlos home sellers on the sidelines this past week. While there were only 3 new single-family listings to debut and not a single condo or townhouse, the buyers who stayed in town kept the market jumping. 7 homes were put into contract, which has once again driven the available inventory of homes in San Carlos into the single-digit range. The active/pending ratio in San Carlos dropped to 0.25 — one of the lowest levels that I have seen in quite some time.
In a traditional year, the month of May is one of the most robust listing periods in year, as sellers rush to get their homes to the market before the Summer break is upon us. Home buyers are praying that this trend will happen again this year, because as of right now, there are only 9 homes to choose from in all of San Carlos – and that number will drop significantly next week without some new inventory to backfill.
Here are the details from last week:
By The Numbers.
Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 4-19-2014:
|San Carlos Housing Data||4-19-14||Prior Week|
|Closed Sales for the Week:||4||5|
|Average Sold Price:||$1,211,000||$1,656,200|
|Average $/Sq Foot (Sold)||$804||$868|
|Sold Price vs Orig List Price:||107%||117%|
|Average DOM of Closed Sales||17||9|
|No. of Homes Pending Sale:||36||31|
|No. of Active Listings:||9||13|
|Average Price of Active Listings:||$1,607,111||$1,302,808|
|Average DOM of Active Listings:||16||7|
|Average $/Sq Foot (List)||$673||$697|
|Active-Pending Ratio:||0.25 : 1||0.42 : 1|
>>> Click Here to Read the Full Post
Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
Get the best coverage on the San Carlos real estate market delivered right to you!