(The “San Carlos Week in Review” is a series comprised of an occasional podcast, and a summary of new listings and home sales in San Carlos for the prior week. Between the two, you should get a great idea of what happened last week in San Carlos real estate.)
Hey, what’s going on here? Homes are starting to sell in San Carlos. Just this week 156 Normandy Court went into contract after 11 days, 524 Prospect after 10 days, and 3141 La Mesa is pending sale after only 8 days on the market. This type of activity is more representative of a “normal” San Carlos real estate market, and should be encouraging news to home sellers. Buyers are starting to commit to the market again.
As of today, here’s the home inventory summary in San Carlos:
- Active: 57 Homes
- Pending Sale: 20 Homes
This ratio of just below 3:1 is another indication that buyers are starting to become active in this market. When a market slows down, the ratio of “active:pending” goes higher, as it takes homes longer to sell and the inventory swells. Indeed, just a few weeks ago we were at a 4:1 ratio in San Carlos. A 3:1 ratio is healthy — let’s hope it stays around.
Here’s the scoop for the week. Click on the respective address for more photos and details…
San Carlos Home Sales
- (Pictured Above) Sale Price: $1,700,000. Original List Price: $1,950,000. Difference: $250,000 (12.8% ) below original list. DOM: 60 Days total under MLS # 80843179. Listed by Mark Martinho of Vabrato.
- Sale Price: $1,210,000. Original List Price: $1,225,000. Difference: $15,000 (1.2% ) below original list. DOM:31 Days total under MLS # 80849340. Listed by David Young of Coldwell Banker.
- Sale Price: $830,000. Original List Price: $849,000. Difference: $19,000 (2.2% ) below original list. DOM: 4 Days total under MLS # 80900374. Listed by Greg Booth of NetEquity Real Estate.
- Sale Price: $788,500. Original List Price: $798,500. Difference: $10,000 (1.3% ) below original list. This one was being very closely watched because it falls in the starter home range, and because it went into contract relatively quickly. DOM: 11 Days total under MLS # 80901378. Listed by Heather Hansen of Alain Pinel Realtors.
New Listings in San Carlos
- (Pictured Above) $1,599,000 — 5BR/3.5BA, 2,528 sq ft on a 4,640 square foot lot. MLS# 80907937, listed by Vincent Armando of Armando Investments.
- $839,000 — 2BR/1BA, 1,060 sq ft on a 4,800 square foot lot. MLS# 80907794, listed by John Shroyer of RE/MAX Today.
- $839,000 — 3BR/2.5BA, 1,490 sq ft on a 7,260 square foot lot. MLS# 80907917, listed by Wendi Selig of Coldwell Banker.
- (UPDATE — Pending Sale) $814,000 — 3BR/2BA, 1,520 sq ft on a 4,400 square foot lot. MLS# 80907755, listed by Justine Ford of RE/MAX Today.
Back on the Market
- $1,149,000 — 4BR/1.5BA, 2,830 sq ft on a 7,200 square foot lot. Was pending sale, but is now back on the market. MLS# 80848548, listed by David Parks of Gateway Properties.
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