San Carlos Inventory Analysis
The big story this week? Home sales, and a lack of new inventory. If you’ve been watching the trend for the past few weeks, quite a few houses have gone pending or have closed escrow. But there hasn’t been the equivalent influx of new homes for sale — see below for the disparity in numbers for just this week. Consequently, the inventory has been steadily dropping from a high of over 70 a few weeks ago to only 55 today. The result? Lots of competitive bidding, and homes going pending quickly (see the Pending Sales section below.) Here’s a snapshot of the San Carlos market, as of 6/6. The previous week’s stats are in parentheses:
|Homes < $1M||33 (39)||21 (19)||1.6 : 1 (2.1 : 1)|
|Homes $1M –$1.5M||12 (15)||11 (11)||1.1 : 1 (1.4 : 1)|
|Homes >$1.5M||10 (11)||2(1)||5 : 1 (11 : 1)|
|Total||55 (65)||35 (31)||1.6 : 1 (2.1 : 1)|
San Carlos Home Sales
Below are homes that sold this past week in San Carlos. Click on the respective addresses to get all the details.
- Pictured Above — Sale Price: $1,175,000. Original List Price: $1,292,000. Difference: $117,000 (9.1%) below original list. DOM: 95 Days under current MLS # 80905162. First listed in Oct ’08 at $1,595,000 (-26.3%). Listed by Amy McEwan of Intero Real Estate Services.
- Sale Price: $1,000,000. Original List Price: $1,195,000. Difference: $195,000 (16.3%) below original list. DOM: 31 Days under current MLS # 80904341. Listed by Brian Chancellor of Alain Pinel Realtors.
- Sale Price: $900,000. Original List Price: $898,000. Difference: $2,000 (0.2%) above original list. DOM: 5 Days under current MLS # 80921813. Listed by Sabine Dillon of Coldwell Banker.
- Sale Price: $890,000. Original List Price: $949,000. Difference: $59,000 (6.2%) below original list. DOM: 22 Days under current MLS # 80919758. Listed by Helen Sotiriadis.
- Sale Price: $788,000. Original List Price: $739,000. Difference: $49,000 (6.6%) above original list. DOM: 7 Days under current MLS # 80921563. Listed by Howard Clark of Dumas and Company.
- Sale Price: $699,000. Original List Price: $799,000. Difference: $100,000 (12.5%) below original list. DOM: 54 Days under current MLS # 80913180. Listed by Judith Litteer of Coldwell Banker.
- Sale Price: $539,000. Original List Price: $539,000. Difference: $0 (0%) from original list. DOM: 2 Days under current MLS # 80921826. Listed by John Shroyer of RE/MAX Today.
Homes Pending Sale in San Carlos
Here are some noteworthy pending sales from this week.
- 1047 McCue Avenue went pending after only 6 days on the market, and not even an open house.
- 925 Bauer Drive went pending contract after only 17 days on the market.
- 2048 Alma Street finally went pending after a total of 221 days on the market. This is a gorgeous house on a great street.
New Listings in San Carlos
Below are the new listings that hit the market this past week in San Carlos. Click on the respective addresses to get all the details. (Note: If a generic map comes up instead of a property profile, it likely means that particular home is already Pending Sale. Click the link in the “Homes Pending Sale” section to check.)
- Pictured Above: $619,000— 2BR/1 BA, 920 sq ft on a 5,550 square foot lot. MLS# 80926255, listed by Peter Vece of Dumas and Company. This one is already pending sale after only 6 days on the market.
- $699,000— 3BR/2BA, 1,440 sq ft on a 6,950 square foot lot. MLS# 80927591, listed by Peter Vece of Coldwell Banker.
(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.)
Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
Don’t miss a single update!