Another week is in the books in the wild world of San Carlos real estate. Four new listings came on the market — but nearly an equal number of homes went into contract, so the number of “active” home listings in San Carlos stands at 34 as of this writing. That’s still a pretty lean market. Also two whopper home sales closed escrow during the week.
Here are the details — click on the addresses for more info and photos:
- 130 Lynton Ave : $2,195,000 — 4BR/3BA, 2916 sq ft on a 4,600 square foot lot. MLS #774701, listed by Geoffrey Nelson of Cashin Company. New construction with sweeping canyon views just off Club Drive in the Devonshire Canyon area. Very nicely appointed, but you definitely need to like living in the “hills.”
- 700 Knoll Dr: $2,499,000 — 4BR/3.5BA, 4261 sq ft on a 14,873 square foot lot. MLS #799783, listed by Gary Baldocchi of Intero. This is a long 2nd-rounder and should be familiar to San Carlos home buyers, since it was on the market for nearly all of 2007 at $2,600,000.
- 333 Old County Road: $699,000 — 3BR/2BA, 820 sq ft on a 5,000 square foot lot. MLS #775006, listed by Alfonso Loayza of Loayza Real Estate.
- 2125 Brittan Ave: $939,000 — 2BR/2.5BA, 1590 sq ft on a 6,250 square foot lot. MLS #799834, listed by David Young of Coldwell Banker. I haven’t had the chance to preview this one yet, since it’s new to the market and there’s no showing until the open house this weekend.
I have been preaching in these pages about how hot the San Carlos real estate market is right now. If you need evidence to this fact, you need look no further than the following two home sales:
- 1744 Arroyo Ave : Sales Price: $1,251,000 — List Price: $1,039,000, DOM 6 Days. I’m no PhD in math, but that appears to be a whopping $212,000 over list! Was this a case of a home that was priced too low, or indicative of a hot real estate market? The answer is a little bit of both– the original list price calculates to about $556/square foot. That’s low by San Carlos standards, no matter where the home is at. But the fact remains that it’s a home that backs up to a school, and faces Burton Park on a pretty busy street…and it still sold in less than a week with multiple offers. Why? Because the house was prepared well to sell, was priced aggressively, and there was virtually no competition on the market at that time. Chalk this one up to a hot market, and intelligent marketing by the seller and their agent.
- 1939 Birch Ave: This sold at $1,750,000 (same as the list price) in 6 days. This is a nice, new home that I reviewed in a previous post. This is a different situation than the Arroyo house — This is the most expensive home on its street (by a mile,) and it sold at full price in less than a week. Simply put, that’s the classic definition of a red-hot real estate market.
Tune in next week for more interesting stories…
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