San Carlos Real Estate Agent, San Carlos Realtor The San Carlos Real Estate Week in Review: 6/12/10 | The White Oaks Blog

The San Carlos Real Estate Week in Review: 6/12/10

by Chuck Gillooley

Inventory Analysis

It was a very strong week for new listings in San Carlos.  Despite the fact that 8 homes went into contract, there were enough new listings to push the inventory of available homes up to 61.  While having more choices is always good news for buyers, this doesn’t signal the end of multiple offers — they’re still happening on some of the nicer offerings on the market, so be prepared!   Interest rates continue to cruise at remarkably low levels, so expect this healthy clip to continue next week.

Open House

If you’re looking at open houses this weekend in San Carlos here’s the only link you’ll need: The San Carlos Open House Page. With one click, you get a “live” list of all the homes and condos that will be open this weekend in San Carlos! It’s updated continuously from the MLS, so bookmark this link and you’ll never have to wander around town looking for open houses again.

Here’s a snapshot of the San Carlos single family home market, as of 6/12. The previous week’s stats are in parentheses:

Price Range Active Pending Ratio
< $1M 35 (34) 25 (26) 1.4 : 1 (1.3 : 1)
$1M –$1.5M 18 (16) 7 (12) 2.6 : 1 (1.3 : 1)
>$1.5M 8 (9) 3 (3) 2.7 : 1 (3.0 : 1)
Total 61 (59) 35 (41) 1.7 : 1 (1.4 : 1)

Single-Family Homes Sold in San Carlos:

Below are the single-family homes that sold this past week in San Carlos. Click on the respective addresses to get all the details.

2630 Howard Avenue, San Carlos
2630 Howard Avenue, San Carlos

2630 Howard Avenue

  • Pictured: Sale Price: $1,525,000. Original List Price: $1,695,000. Difference: $170,000 (10.0%) below original list. Sold in 97 days. MLS# 81000119, listed by Anna Wong of Alain Pinel Realtors.

2030 San Carlos Avenue

  • Sale Price: $1,500,000. Original List Price: $1,550,000. Difference: $50,000 (3.2%) below original list. Sold in 18 days. MLS# 81018953, listed by Stephen Hicks of Gateway Properties.

1025 Hewitt Drive

  • Sale Price: $1,215,000. Original List Price: $1,098,000. Difference: $117,000 (10.6%) above original list. Sold in 14 days. MLS# 81020984, listed by Shalah Piff of Century 21 Alliance.

782 Crestview Drive

  • Sale Price: $1,182,000. Original List Price: $1,388,000. Difference: $206,000 (14.8%) below original list. Sold in 28 days. MLS# 81013573, listed by John Forsyth James of Alain Pinel Realtors.

2016 Eaton Avenue

  • Sale Price: $1,177,000. Original List Price: $1,098,000. Difference: $79,000 (7.2%) above original list. Sold in 8 days. MLS# 81024005, listed by David Young of Coldwell Banker.

1526 Chestnut Street

  • Sale Price: $1,152,000. Original List Price: $1,029,000. Difference: $123,000 (12%) above original list. Sold in 8 days. MLS# 81017535, listed by Barbara Conkin of Alain Pinel Realtors.

20 Coronado Avenue

  • Sale Price: $950,000. Original List Price: $1,050,000. Difference: $100,000 (9.5%) below original list. Sold in 21 days. MLS# 81016133, listed by John Shroyer of RE/MAX Today.

109 Plymouth Avenue

  • Sale Price: $920,000. Original List Price: $849,950. Difference: $70,500 (8.2%) above original list. Sold in 9 days. MLS# 81020960, listed by Donna Colangelo of Intero Real Estate Services.

820 Sunset Drive

  • Sale Price: $890,000. Original List Price: $925,000. Difference: $35,000 (3.8%) below original list. Sold in 30 days. MLS# 81016954, listed by Patrick Carmichael of Realty World Homesellers.

119 Oakview Drive

  • Sale Price: $889,000. Original List Price: $889,000. Difference: $0 (0%) from original list. Sold in 12 days. MLS# 81021519, listed by Justine Ford of RE/MAX Today.

54 Plymouth Avenue

  • Sale Price: $862,000. Original List Price: $839,000. Difference: $23,000 (2.7%) above original list. Sold in 7 days. MLS# 81021402, listed by David Young of Coldwell Banker.

79 Winding Way

  • Sale Price: $425,000. Original List Price: $495,000. Difference: $70,000 (14.1%) below original list. Sold in 89 days. MLS# 81013346, listed by John Shroyer of RE/MAX Today.

(Click the “Homes Sold” button below see all of the homes that have sold in San Carlos in the past 3 months.)

Homes Sold in San Carlos
Homes Sold in San Carlos

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Single-Family Homes Pending Sale in San Carlos:

The following homes went “Pending Sale” this week — click on the address for more info:

(Click the “Homes Pending Sale” button below to see ALL the homes that are Pending Sale in San Carlos.)

Homes Pending Sale in San Carlos
Homes Pending Sale in San Carlos

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New Single-Family Home Listings in San Carlos:

Below are the new listings that hit the market this past week in San Carlos. Simply click on the address of each home to get all the details.

2622 Howard Avenue, San Carlos
2622 Howard Avenue, San Carlos

2622 Howard Avenue

  • Pictured: $1,549,000 — 4BR/3BA, 3,043 sq ft on a 5,650 square foot lot. MLS# 81028062. Listed by Anna Wong of Alain Pinel Realtors.  Already pending sale.

2520 Melendy Drive

  • $1,324,888 — 4BR/3BA, 2,580 sq ft on a 7,255 square foot lot. MLS# 81028066. Listed by Dave Blewett of Intero Real Estate Services.

209 Club Drive

  • $1,049,000 — 4BR/3.5BA, 2,970 sq ft on a 8,913 square foot lot. MLS# 81028080. Listed by Len Weaverling of Cashin Company.

158 Manor Drive

  • $1,035,000 — 3BR/2.5BA, 2,200 sq ft on a 4,840 square foot lot. MLS# 81028961. Listed by Carrie DuBois of Coldwell Banker.

2016 Arroyo Avenue

  • $945,000 — 3BR/2BA, 1,640 sq ft on a 5,000 square foot lot. MLS# 81028987. Listed by Jackie Cockreham of RE/MAX Today.

525 Emerald Avenue

  • $929,000 — 3BR/2BA, 1,800 sq ft on a 5,500 square foot lot. MLS# 81028081. Listed by John Shroyer of RE/MAX Today.

139 Rockridge Road

  • $824,995 — 3BR/2BA, 1,380 sq ft on a 5,800 square foot lot. MLS# 81028089. Listed by Stephen Hicks of Gateway Properties.

104 Winding Way

  • $799,000 — 3BR/2BA, 1,320 sq ft on a 5,850 square foot lot. MLS# 81028978. Listed by Ed Gory of Intero Real Estate Services.

1543 Arroyo Avenue

  • $750,000 — 2BR/1BA, 910 sq ft on a 5,225 square foot lot. MLS# 81029073 . Listed by Harriet Ham of RE/MAX Today.

1455 Alameda de las Pulgas

  • $650,000 — 3BR/1BA, 1,310 sq ft on a 5,312 square foot lot. MLS# 81028037. Listed by Mary Yeargain of Alain Pinel Realtors.

(Click the “Homes For Sale” button below to see ALL the homes that are Pending Sale in San Carlos.)

Homes for Sale in San Carlos
Homes for Sale in San Carlos

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Condos and Townhomes Sold in San Carlos:

Below are the condos/townhouses that sold this past week. Click on the address for all of the details:

  • No townhomes or condos sold this past week.

(Click the “Condos Sold” button below to see all of the condos and townhomes that have recently sold in San Carlos)

Condos Sold in San Carlos
Condos Sold in San Carlos

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Condo/Townhouse Pending Sales in San Carlos

The following condos/townhouses are now pending sale:

(Click the “Condos Pending Sale” button below to see all of the condos and townhomes that are pending sale in San Carlos)

Condos Pending Sale in San Carlos
Condos Pending Sale in San Carlos

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New Condo/Townhouse Listings in San Carlos:

The following condo/townhouse listings came on the market this past week:

641 Cedar Street #203

  • $569,000 — 2BR/2BA, 1,178 sq ft. MLS# 81028265. Listed by Mike Masoumi of RE/MAX Properties West.

3358 Brittan Avenue #5

  • $569,000 — 2BR/2BA, 1,040 sq ft. MLS# 81028040. Listed by Howard Clark of Dumas & Company.

(Click the “Condos for Sale” button below to see all of the condos and townhomes that are currently for sale in San Carlos)

Condos for Sale in San Carlos
Condos for Sale in San Carlos

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What’s Open This Weekend?

Click the “Open House” button to see ALL of the homes and condos scheduled to be open this weekend in San Carlos.

    Open House in San Carlos
    Open House in San Carlos

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    (The “San Carlos Week in Review” series is a summary of new listings and home sales in San Carlos for the prior week.)

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Comments 5
  • I posted this to last weeks’ week in review and thought I’d try again:

    Your weekly real estate updates are great! A missing piece (and key) of information regarding the sales prices is what amount was received in credits. I know of some very recent SC sales that the purchase price was inclusive of over $100k in credits. Therefore, the “sold” prices are quite often overstated. Any help on shedding light on this is much appreciated!

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    • Sorry for the delay in replying to your original question. Seller credits are never reported in the public sale of the property. So clearly you have inside information on the transactions that you are referring to.

      Seller credits can and will happen in a real estate transaction– they’re almost nonexistent in a multiple offer deal for obvious reasons. But when they do occur, they are generally MUCH smaller than the $100k figure you are talking about. The reason is that any credit that’s over 3% of the sales price raises a huge red flag with the bank, since it now looks like another loan, and not a credit. So in order for a $100K credit to stay below that threshold, the sale price would have to be at least $3.3M — I haven’t seen too many sales in that range in San Carlos lately.

      The examples you are referring to may have been all-cash offers? But the bottom line is that the only people who have insight to any seller credit are those who are privy to the sales contract in the first place: The seller, the buyer, and bank (if any).

      I hope this answers your question.

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  • Any ideas why that house on Hewitt went for so much? Seemed like it was in mostly original condition.

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    • Good question. At the list price of $1,098,000 it was significantly under-priced for the square footage (2,200), regardless of the fact that it was in original condition. That, combined with a good location, helped to draw multiple offers — which pushed the price quite a bit higher.

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  • Chuck, Thanks for your response on the “credit” question. You’re right, not many $3.3M sales in SC–making these credits even more significant–even ones that fit into the typical 3% range have buyer’s at a huge disadvantage when looking at overstated comps–and therefore over paying when bidding on homes. Quite unfortunate for buyers!

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