What Sold, and What’s New in San Carlos — Week of 3/31/08

Another busy week in San Carlos Real Estate. If there's nothing else you take away from this week's report, consider these two alarming trends:

1. Homes are still selling very quickly. Of the 9 homes that closed escrow this week, all but one were in contract in less than two weeks. This is mind-boggling, considering the state of the economy. But if you didn't catch the first open house or broker's tour, many of these were gone…
2. Sales are outpacing new listings: For the second straight week, more escrows closed than there were new listings. What does this mean? When closed sales are greater than new listings, the inventory decreases. And we're already at a ridiculously low inventory of 49 single-family homes for sale in San Carlos. Keep a close eye on this one…

So considering these points, along with the fact that 7 of the 9 sales this week sold at or above list price, it's easy to draw the following conclusion — Right now is an great time to sell a home in San Carlos. On the other side of the coin, it continutes to be a frustrating trek for those looking to buy in the City of Good Living.

Here's the scoop for this week. As always, click on the address for more details and pictures….

Home Sales:

• 12 Elston Ct: (Pictured above) Sale Price: $1,525,000. Original List Price: $1,525,000. Difference: $0. DOM: 12 Days. MLS #784499. This marvelous home attracted a LOT of attention when it hit the market. It was listed by the Clarke Team of Cashin Company.
• 2741 Bromley Dr: Sale Price: $1,212,000. Original List Price: $1,050,000. Difference: $162,000 (15.4%) over list. DOM: 8 Days. MLS #779692 , listed by Craig Smith of Intero Real Estate Services.
• 35 Wessex Way: Sale Price: $1,208,000. Original List Price: $1,185,000. Difference: $23,000 over list. DOM: 6 Days. MLS #782546 , listed by Carroll La Vrar of Coldwell Banker.
• 107 Vista Del Grande: Sale Price: $1,190,000. Original List Price: $1,249,000. Difference: $59,000 below list. DOM: 8 Days. MLS #778399 , listed by Rich Macario of RE/MAX Dolphin.
• 2913 Franciscan Ct: Sale Price: $960,000. Original List Price: $949,000. Difference: $11,000 over list. DOM: 12 Days. MLS #779778 , listed by Greg Celotti of Alain Pinel Realtors.
• 928 Walnut St: Sale Price: $900,000. Original List Price: $849,000. Difference: $51,000 (+6%) over list. DOM: 0 Days (no, that's not a typo — this one never hit the market.) MLS #782143, listed by Bryce Cook of RE/MAX Today.
• 2005 Howard Ave: Sale Price: $795,000. Original List Price: $700,000. Difference: $95,000 (+14%) over list. DOM: 9 Days. MLS #784309, listed by Cindy Klein of Coldwell Banker.
• 924 Cherry St: Sale Price: $687,500. Original List Price: $729,000. Difference: $41,500 below list. DOM: 55 Days. MLS #772154, listed by Alexander Lehr of Lehr Real Estate.
• 311 Fairfield Dr: Sale Price: $681,000. Original List Price: $669,950. Difference: $11,050 over list. DOM: 6 Days. MLS #783100, listed by Maxine Dumas of Dumas & Company.

New Listings:

• 360 Elm St: $1,279,000 — 3BR/2.5BA. 2,114 sq ft on a 6,500 square foot lot. Pictured above, this home has been nicely updated, and features a fantastic in-law unit (or dog-house for the husband) in the back. MLS #787882, listed by Justine Ford of RE/MAX Today.
• 71 Madera Ave: $1,649,000 — 4BR/3.5BA. 2,826 sq ft on a 7,810 square foot lot. MLS #789191, listed by Greg Damelio of Cashin Company.
• 1252 Crestview Dr: $1,348,888 — 4BR/2.5BA. 2,270 sq ft on a 7,800 square foot lot. MLS #789330, listed by Lorelei Keim of Coldwell Banker.
• 1405 Orange Ave: $1,079,000 — 3BR/2BA. 1,530 sq ft on a 6,000 square foot lot. Brand new listing, so the picture isn't up on the MLS yet. It's on the corner of Orange and Belmont Avenues. MLS #789438, listed by Robert Crowe of O'Connor and Associates.
• 227 Windsor Dr: $949,950 — 3BR/3BA. 2,450 sq ft on a 6,435 square foot lot. Very attractive price for a large 3/3 in San Carlos — definitely worth checking out. MLS #789386, listed by Ann Olea of Keller Williams.
• 108 Ruby Ave: $849,950 — 2BR/1BA. 1,210 sq ft on a 6,050 square foot lot. Great potential starter home in White Oaks with a good-sized lot for future expansion possibilities. MLS #789331, listed by Maxine Dumas of Dumas & Company.