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The San Carlos Real Estate Week in Review: 2-1-14.

February 3, 2014 "The Week in Review", San Carlos Real Estate No Comments
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The Super Bowl of Real Estate.

To the relief of home buyers everywhere, the Super Bowl has finally come and gone.  Why?  Because history has taught us that many home sellers will wait until after the Super Bowl to list their home for sale.  This statistic is especially noticeable when a local team is participating in this grand event.  Nobody wants to host a Super Bowl Party in a home that’s listed for sale, right?    Because of this phenomenon, it’s widely accepted that the end of the pro football season marks the kickoff of the Spring real estate season (pun intended).   And buyers everywhere are hoping that this year is no exception to that rule.

For home sales that closed escrow this week, the sales price/list price ratio dropped below 100% for the first time in months.   But don’t let that fool you into thinking that home prices are suddenly leveling off just yet — this week’s data was skewed by one large sale.   Quite to the contrary, multiple offers and aggressive bidding are still the norm in San Carlos, and in surrounding communities.  Most of the 6 homes below that are in the pending sales list garnered multiple offers — one got 10 offers after the first week  on the market — and sold significantly higher than the asking price.    I was involved in a multiple-offer frenzy on a home in Belmont this week that attracted 15 offers.   So don’t let this week’s data lead you to believe that the fire is out under this market.

Here are the details from last 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 2-1-2014:

San Carlos Housing Data 2-1-14 Prior Week
Closed Sales for the Week: 3 4
Average Sold Price $1,670,000 $1,377,500
Average $/Sq Foot (Sold) $708 $731
Sold Price vs Orig List (%) 97% 103%
Average DOM of Closed Sales 95 9
No. of Homes Pending Sale: 12 9
Inventory of Active Listings: 6 8
Average Price of Active Listings: $1,170,481 $1,278,972
Average DOM of Active Listings: 7 27
Average $/Sq Foot (List) $702 $633
Active-Pending Ratio: 0.5 : 1 089 : 1

The San Carlos Open House Page.

If you’re looking at open houses this weekend in San Carlos, check out the San Carlos Open House List. With one click on the Open House sign below, 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.

San Carlos Open House List

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Single-Family Homes SOLD in San Carlos:

28 Oak Creek Lane, San Carlos

28 Oak Creek Lane, 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 Days on Market
28 Oak Creek Lane $2,575,000 $2,950,000 -$375,000 (-12.7%) 233
2730 San Miguel Way $1,450,000 $1,275,000 +$175,000 (+13.7%) 10
23 Vine Street $985,000 $949,950 +$35,050 (+3.7%) 43

Note: The sold data provided above is strictly for informational purposes only, and should not imply that the author was involved in either side of the transaction. (Click the “Homes Sold” sign below see all of the homes that have sold in San Carlos in the past 3 months.)

Homes Sold in San Carlos

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San Carlos Homes Pending Sale for the Week:

The following homes went into contract his week. Click on the address to see more details:

Address DOM (days) List Price
2721 San Miguel Way 12 $1,595,000
240 Hillcrest Road 180 $1,899,000
119 Chesham Avenue 12 $1,162,000
437 Hillcrest Road 12 $1,998,888
2388 Brittan Avenue 6 $849,000
953 Lupin Way 8 $949,000

Note: The pending data provided above is strictly for informational purposes only, and should not imply that the author was involved in either side of the transaction.

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

Homes Pending Sale in San Carlos

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New Single-Family Home Listings in San Carlos:

94 Loma Road, San Carlos

94 Loma Road, San Carlos

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

Address List Price BR/BA Sq Ft (home/lot) Listed By
94 Loma Road $1,845,000 4BR/2.5BA 2,870/9,594 Wes Olson, WR Properties
55 Pine Avenue $1,450,000 3BR/2.5BA 1,900/7,702 David Young, Coldwell Banker
183 Ruby Avenue $1,269,000 3BR/2BA 1,430/6,000 Justine Ford, Today Sothebys
982 Holly Street $680,000 2BR/2BA 1,180/5,850 Silvia Martinelli, Realty World

Note: The listing data provided above is strictly for informational purposes only, and should not imply that the author is the listing agent.

(Click the “Homes For Sale” sign below to see ALL of the homes currently 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 closed escrow this past week. Click on the address for more details:

Address Sold Price Orig. List Difference DOM
5 Poppy Lane $1,315,000 $1,149,000 +$166,000 (+14.5%) 12

(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

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Condo/Townhouse Pending Sale this Week.

The following condos/townhouses went into contract this week:

Address DOM (days)
2 Elm Street #201 4
3335 La Mesa Drive #8 12
3382 Brittan Avenue #11 24
1 Elm Street #200 10

(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

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New Condo/Townhouse Listings in San Carlos:

The following condo/townhouses listed this past week. Click on the address or all the details:

Address List Price BR/BA Sq Feet Listed By

(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

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Want Your Info Sooner?

I post sales data during the week as it happens on the White Oaks Blog on Twitter and the White Oaks Blog Page on Facebook

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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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Chuck Gillooley
Realtor, San Carlos Resident

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BRE# 01750684
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