One trend you may have noticed in the past few weeks of this report is the re-occurrence of red ink in the “Single Family Homes Sold in San Carlos” section, which designates when a home sells for below its asking price. While there certainly hasn’t been a preponderance of homes that are failing to fetch their asking price, there has indeed been an increase in just the past few weeks. And that’s quite noticeable in a year when virtually every home is fetching 10% above the list price — or more.
One may chalk part of this phenomenon up to seasonal slowness in the market. But this tends to point to a market that is starting to test its upper limits of what buyers are willing to spend. And while most homes with high desirability factors are still fetching multiple offers and strong prices, some of the homes that have deficiencies (location, condition, etc…) are not simply jumping off the market like they were earlier in the spring. There are even some nice, new homes that are finding some resistance at the upper end of the price range. It will be interesting to monitor this trend in the coming weeks.
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 7-19-2014:
|San Carlos Housing Data||7-19-14||Prior Week|
|Closed Sales for the Week:||7||3|
|Average Sold Price:||$1,342,143||$1,350,296|
|Average $/Sq Foot (Sold)||$810||$785|
|Average Percentage Over List Price:||108%||113%|
|Average DOM of Closed Sales||16||11|
|No. of Homes Pending Sale:||25||28|
|No. of Active Listings:||21||17|
|Average Price of Active Listings:||$1,542,900||$1,522,611|
|Average DOM of Active Listings:||31||35|
|Average $/Sq Foot (List)||$671||$736|
|Active-Pending Ratio:||0.84 : 1||0.64 : 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|
|154 Garnet Avenue||$1,720,000||$1,500,000||+$220,000 (+14.7%)||4|
|1601 Arroyo Avenue||$1,650,000||$1,325,000||+$325,000 (+24.5%)||8|
|3131 Brittan Avenue||$1,470,000||$1,488,000||-$18,000 (-1.2%)||14|
|240 Lemoore Drive||$1,250,000||$1,525,000||-$275,000 (-18.0%)||56|
|236 Kelton Avenue||$1,225,000||$1,079,000||+$146,000 (+13.5%)||14|
|889 Cordilleras Avenue||$1,210,000||$998,950||+$211,050 (+21.1%)||6|
|960 Cherry Street||$870,000||$799,888||+$70,112 (+8.8%)||10|
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|
|507 Exeter Way||18||$1,299,000|
|549 Prospect Street||30||$945,000|
|1100 Walnut Street||6||$1,199,999|
|2240 Howard Avenue||8||$1,747,000|
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|
|23 Camborne Avenue||$2,395,000||5BR/4BA||3,304/7,550||Sarah Ravella, Intero|
|3230 La Mesa Drive||$1,500,000||3BR/2.5BA||2,600/10,098||Philip Watson, Coldwell Banker|
|1079 Sunset Drive||$1,449,900||4BR/2.5BA||2,700/6,150||Damon Holst, Intero|
|2740 Milano Way||$1,385,000||4BR/3BA||2,110/8,532||Melanie Smith, Coldwell Banker|
|578 Cedar Street||$1,290,000||4BR/2BA||2,084/6,500||Miwan Kim, Prima Investment Group|
|109 Club Drive||$1,175,000||3BR/3BA||1,530/10,320||Donna Colangelo, Intero|
|976 Holly Street||$786,000||2BR/1BA||1,040/5,850||Bob Bredel, Today Sothebys|
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|
|633 Elm Street #400||$675,000||$638,000|| +$37,000 (+5.8%)
|3329 Brittan Avenue #10||$655,000||$668,995|| -$13,995 (-2.1%)
(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:
(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|
|1107 Royal Lane||$1,099,000||3BR/2.5BA||2,880||Trish Ward, Keller Williams|
|602 Cedar Street #2||$649,000||2BR/2BA||1,320||Michael Bruno, Cal-West Realty|
(Click the “Condos for Sale” button below to see all of the condos and townhomes that are currently for sale in San Carlos)
(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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