Bargains in San Carlos?
Three homes listed this week, and not one of them was above $800,000. I can’t remember the last time that happened. But the theme from last week has definitely carried over to this week: The sub-$1M market is definitely heating up. Look at the homes that went pending this week:
- 259 Vine St: $735,000. Pending after 6 days.
- 820 Sunset Dr: 675,000 – Pending after 7 days.
- 2373 Howard Ave: $729,000 – Pending after 23 days.
Homes in this price range continue to be the most sought-after right now in San Carlos.
San Carlos Inventory Analysis
Here’s a snapshot of the San Carlos market, as of 4/4:
- Active: 66 homes (last week: 69)
- Pending Sale: 29 Homes (last week:27)
- Ratio ~ 2.3:1 (last week: 2.6:1)
This ratio has declined for the third consecutive week, meaning homes are getting into contract more quickly. Here are those same numbers broken out by price category:
- Homes < $1M: 35 Active, 15 Pending = 2.3:1 (last week: 2.3:1)
- Homes $1M –$1.5M: 21 Active, 11 Pending = 1.9:1 (last week: 2.7:1)
- Homes >$1.5M: 10 Active, 3 Pending = 3.3:1 (last week: 3.3:1)
The biggest change in ratio actually occurred in the $1M-$1.5M range, since there were no new listings to replace those that went pending. The good news here is that homes are selling in this range too.
Below are the new listings and home sales from this past week. Click on the respective addresses to get all the details.
San Carlos Home Sales
- Pictured Above — Sale Price: $1,245,000. Original List Price: $1,249,000. Difference: $4,000 (0.3%) below original list. DOM: 8 Days total under MLS # 80906233. Listed by Norrine Higgins of RE/MAX Today. These results are significant — it’s not often today that we’re seeing homes in this price range sell as quickly and as close to list price as this one did. Granted, this home is in move-in condition, it’s on the view side of La Mesa, and the listing agent priced it well. But it’s worth seeing if this starts to become a trend in the low $1M range.
- Sale Price: $595,000. Original List Price: $609,000. Difference: $14,000 (2.2%) below original list. DOM: 13 Days total under MLS # 80911908. Listed by Deborah Wilhelm of Coldwell Banker.
- Sale Price: $420,000. Original List Price: $489,900. Difference: $69,900 (14.3%) below original list. DOM: 95 Days total under MLS # 80844569. This was an REO sale. Listed by Alex Lehr of Lehr Real Estate.
New Listings in San Carlos
- Pictured Above: $798,888 — 3BR/2BA, 1,610 sq ft on a 5,500 square foot lot. MLS# 80916947, listed by Lorelei Keim of Coldwell Banker.
- $749,000 — 3BR/1.5BA, 990 sq ft on a 5,370 square foot lot. MLS# 80915730, listed by Peggy Ledoux of Cashin Company.
- $538,500 — 2BR/1BA, 820 sq ft on a 5,000 square foot lot. MLS# 80916226, listed by Terry Michaud of Heritage Realty.
*** To see all of the homes currently for sale in San Carlos, simply click here: San Carlos Single Family Residences for Sale
Back on the Market
- Pictured Above: $1,224,950 — 3BR/2.5BA, 2,805 sq ft on a 7,650 square foot lot. If you like contemporary decor, then you should check out this home. The owner did a superb job. MLS# 80915846, listed by Donna Colangelo of Intero Real Estate Service.
(The “San Carlos Week in Review” series is a summary of new listings and home sales in San Carlos for the prior week, and an occasional podcast mixed in to keep things lively. Between the two, you should get a great idea of what happened last week in San Carlos real estate.)
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