The Results Are In.
As predicted, 2009 was a down year for San Carlos real estate in most of the key metrics that are tracked. While we enjoyed a strong rally toward in final third of the year, it wasn’t enough to turn the year around. As a result, 2009 to became the second consecutive year of declining sales in the San Carlos single family home market. That hasn’t happened in quite a while.
Here are are the numbers compared to 2008:
|Median Price||$880,000||$986,500 (-10.8%)|
|Average Price||$928,560||$1,069,360 (-13.2%)|
|No. of Sales||236||262 (-9.9%)|
|Sale vs. List Price||98.1%||99.1% (-1.0%)|
|Days on Market||43||36 (+19.4%)|
Interested in seeing all of the homes that sold in San Carlos in 2009? Just click on this link: San Carlos 2009 Home Sales Summary
As I discussed in my podcast preview of 2010, there are indications that we’ll reverse the declining trend this year — but a number of hurdles need to be overcome to enable this growth. The biggest of these hurdles is inventory, and we’re not starting off the new year with any significant influx of new listings. So keep a close eye on listings in the coming weeks.
Next week, we’ll take a fun look at these numbers with our annual “Biggest and Best” of San Carlos.
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