The real estate market in San Carlos is alive and well, thank you. “The City of Good Living” lived up to its name in 2007, posting some impressive sales numbers despite the rough road many other regions experienced. Just like virtually the entire country, the sales volume was down in San Carlos compared to last year. However, both the median and average prices increased in 2007. This is a good indication that the mid-Peninsula region is weathering the storm very well; you’d rather have the sales volume drop and the values remain steady than vice versa — the volume always recovers much quicker than a loss in value.
Here’s the summary of what happened in San Carlos in 2007:
- Total # of Homes Sold: 280 Homes sold in 2007, which is a 5.4% decrease from 296 sold in 2006
- Average Sales Price: $1,146,922 in 2007, which is a 5.2% increase over $1,090,246 in 2006.
- Median Sales Price: $1,089,500 which represents a 13.0% increase over $964,000 in 2006.
- Average DOM: 28 Days in 2007, versus 23 Days in 2006.
Another sign of relative strength is the DOM figure — the average single-family home in San Carlos sold in less than a month, while inventory in many other areas is sitting for long stretches of time.
If you’re interested in the details on all 280 homes that sold in San Carlos in 2007, click here —> San Carlos 2007 Home Sales Figures
Stay tuned to sf-peninsulablog.com as I track the monthly data in 2008, and see how it compares to same month in 2007.
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