San Carlos Real Estate Summary.
The active-to-pending ratio is one of several metrics that I use to measure the relative strength of a real estate market. Simply put, it’s just number of active listings divided by the number of pending sales. In a slow market, one could expect to see that number between 4-5, which shows that there’s a glut of inventory. In a healthy market like we saw in 2011, that number hovered around 2 — this indicates that homes are selling quickly, but there’s a steady supply of new listings to feed the pipeline.
For the past several weeks in San Carlos, the active-pending ratio has been in the tank, as you can see in the table below. It’s not that often that this ratio falls below 1 — meaning that there more homes pending sale than for sale — but that’s exactly the situation we’ve been in since about the beginning of the year. (To be fair, it’s important to note that a full 1/3 of these pending sales are actually short sales, which generally take longer than normal sales to close. This pulls the ratio a bit lower.)
But when you combine an abnormally low ratio with an inventory hovering in the mid-20’s, it’s clear that the growth of the market is being starved. Here are the numbers for this week…
By The Numbers.
Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 2-11-2012:
|San Carlos Housing Data||2-11-12||Prior Week|
|Closed Sales for the Week:
|Average Sold Price
|Average $/Sq Foot
|Sold Price vs Orig List (%)||91%||96%|
|Average DOM of Closed Sales||73||42|
|Inventory of Active Listings:
|Average Price of Active Listings:||$1,031,255||$1,006,203 (+2.5%)|
|Average DOM of Active Listings:||95||117|
|No. of Homes Pending Sale:||32||33|
||0.8 : 1||0.7 : 1|
The San Carlos Open House Page.
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’ll 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.
Single-Family Homes SOLD in San Carlos:
Below is a list of the single-family home contracts that closed escrow this past week in San Carlos. Click on the address of each to see the complete details.
|Address||Sold Price||Orig. List||Difference||DOM|
|1905 Cedar Street
|899 Crestview Drive||$1,055,000||$998,000||+$57,000 (+5.7%)
|891 Sunset Drive
|130 Oakview Drive
|309 Old County Road
(Click the “Homes Sold” sign below see all of the homes that have sold in San Carlos in the past 3 months.)
Single-Family Homes Pending Sale in San Carlos:
The following homes went “Pending Sale” this week. Click on the address of any of these homes for additional info:
|Address||DOM (days)||List Price|
|41 Pine Avenue
|428 Sycamore Street
|12 Robin Way
|959 Holly Street
(Click the “Homes Pending Sale” sign below to see ALL the homes that are Pending Sale in San Carlos.)
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 the complete details.
|Address||List Price||BR/BA||Sq Ft (home/lot)||Listed By|
|59 Hilltop Drive||$1,675,000||5BR/2/2.5BA||3,125/12,800||John Sieling, Today Sothebys|
|168 Mesa Verde Way||$1,598,000||4BR/3BA||3,120/10,824||Glenn Sennett, Coldwell Banker|
|353 Clifton Avenue||$799,000||5BR/4BA||3,350/10,000||Anthony Galli, Coldwell Banker|
|228 Park Avenue||$749,050||3BR/1BA||1,280/4,440||David Blewett, Intero|
|919 Woodland Avenue||$699,000||3BR/1.5BA||1,300/6,250||Gail Rossetti, Rossetti Realty|
|958 Holly Street||$489,950||3BR/2BA||910/5,900||Eliz Biachini, Coldwell Banker|
(Click the “Homes For Sale” sign below to see ALL of the homes currently for Sale in San Carlos.)
What’s Open This Weekend?
Click the “Open House” sign below to see ALL of the homes and condos scheduled to be open this weekend in San Carlos.
Want Your Info Sooner?
(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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