Last week was another one of those weeks that should have given a shot of encouragement to prospective home buyers in San Carlos. Even though 7 homes went into contract during what was a very busy period, there was actually a greater number of homes that listed during the same time, and that pushed the inventory of homes for sale in San Carlos back up to 22. That’s still less than half of what one would expect in San Carlos for this point in the Spring selling season, but it’s a welcome relief from the single digit inventory we’ve been forced to endure for much of the year.
What’s also interesting to note is the that the average number of offers that most listings are getting is seeming to drop as we get more inventory. This is a statistic that is very hard to track, because it’s at the discretion of the listing agent to disclose (or not) this information, and it also strongly depends on the price point of the home. But from my informal poll of recent San Carlos listings, we’re starting to see more and more homes that are only getting a handful of offers — sometimes only one offer. I’ve heard quite a few accounts where homes only received two offers. That’s quite a change from only a few months ago, but it’s a telltale indication that the market is starting to level off just a little bit.
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 5-31-2014:
|San Carlos Housing Data||5-31-14||Prior Week|
|Closed Sales for the Week:||2||6|
|Average Sold Price:||$1,177,500||$1,431,667|
|Average $/Sq Foot (Sold)||$1,011||$761|
|Average Percentage Over List Price:||98%||109%|
|Average DOM of Closed Sales||9||11|
|No. of Homes Pending Sale:||28||23|
|No. of Active Listings:||22||19|
|Average Price of Active Listings:||$1,496,814||$1,554,615|
|Average DOM of Active Listings:||16||18|
|Average $/Sq Foot (List)||$702||$717|
|Active-Pending Ratio:||0.79 : 1||0.83 : 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.
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||Days on Market|
|2668 Thornhill Drive||$1,160,000||$1,199,000||-$39,000 (-3.3%)||9|
|1989 Belle Avenue||$1,195,000||$1,195,000||$0 (0%)||8|
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.)
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|
|119 Brook Street||11||$1,249,000|
|1404 Crestview Drive||26||$1,798,888|
|80 Hartford Avenue||13||$1,280,800|
|843 Cedar Street||14||$998,000|
|112 Arundel Road||14||$1,995,000|
|58 Hillcrest Road||11||$2,349,000|
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.)
New Single-Family Home Listings in 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|
|75 Porto Marino Way||$2,299,999||4BR/3.5BA||3,170/95,484||Tony Kim, Legacy Real Estate|
|20 Molton Avenue||$1,800,000||4BR/3.5BA||3,269/6,700||George Chopoff, RE/MAX|
|109 Mirabel Place||$1,588,000||4BR/3.5BA||2,357/2,622||Mike Bohnert, Coldwell Banker|
|316 Chesham Avenue||$1,499,000||3BR/2.5BA||2,327/9,148||Johnny Heckenberg, Real Estate EBroker|
|111 Mirabel Place||$1,499,000||4BR/3.5BA||2,186/2,034||Mike Bohnert, Coldwell Banker|
|393 Chestnut Street||$1,298,950||4BR/3BA||2,700/9,148||Jerry Giourard, Girourard Properties|
|261 Kelton Avenue||$1,199,950||3BR/1.5BA||1,390/4,400||Maxine Dumas, Dumas & Company|
|100 Alberta Avenue||$1,150,000||3BR/2BA||1,630/5,940||Samia Morgan, Samia Real Estate Group|
|966 Cherry Street||$779,000||2BR/1BA||900/5,000||Melanie Smith, Coldwell Banker|
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.)
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|
|3003 Melendy Drive #3||$833,000||$789,000|| +$44,000 (+5.6%)
(Click the “Condos Sold” button below to see all of the condos and townhomes that have recently sold in San Carlos)
Condo/Townhouse Pending Sale this Week.
The following condos/townhouses went into contract this week:
|1625 San Carlos Avenue #D||12|
(Click the “Condos Pending Sale” button below to see all of the condos and townhomes that are pending sale in San Carlos)
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|
|20 Trillium Lane||$968,000||2BR/2.5BA||1,793||Eddie Azzopardi, Realty World|
(Click the “Condos for Sale” button below to see all of the condos and townhomes that are currently for sale 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.)
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!