The San Carlos Real Estate Week in Review: 5-3-15.

Much has been discussed on this site about the rocket-like trajectory of 3-bedroom home prices in San Carlos, since the 3-bedroom house makes up the majority of the housing stock in the city. But not to be overlooked is the pricing on 2-bedroom homes.  It wasn't too long ago that you could get a 2-bedroom home for under $1,000,000 on the west side of San Carlos.  It's pretty safe to assume that those days are long past us, as we witnessed 100 Garnet Avenue close this past week for $1,410,000 making it the 11th most expensive 2BR home to sell in San Carlos in the past 15 years.  There are other 2-bedroom homes that are currently pending sale that will close well above the $1M mark as well.

Even the smallest of homes in the Greater East Side of San Carlos will be topping the $1M mark with regularity as prices continue to rise in San Carlos and all along the Peninsula.  It doesn't seem that far away that a 7-figure price will become the entry point for any single-family home in San Carlos. Even the dirt value of flat ~5,000 square foot flat lot on west side will easily top $1M.

Here are the details from last week:

By the Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the week ending 5-3-2015:

San Carlos Housing Data	5-3-15	Prior Week
Closed Sales for the Week:	4	7
Average Sold Price:	$1,523,750	$1,469,143
Average $/Sq Foot (Sold)	$882	$847
Average Sold as Percentage Of List Price:	120%	114%
Average DOM of Closed Sales	11	13
No. of Homes Pending Sale:	20	17
No. of New Listings:	5	6
Total # of Active Listings:	13	15
Average Price of Active Listings:	$1,786,073	$1,666,067
Average DOM of Active Listings:	17	18
Average $/Sq Foot (List)	$770	$772
Active-Pending Ratio:	0.65 : 1	0.88 : 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.

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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
250 Loma Road	$1,975,000	$1,799,000	+$176,000 (+9.8%)	14
18 Arch Lane	$1,485,000	$1,398,000	+$87,000 (+6.2%)	13
100 Garnet Avenue	$1,410,000	$1,199,000	+$211,000 (+17.6%)	8
850 Buckland Avenue	$1,225,000	$829,000	+$396,000 (+47.8%)	7

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.

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San Carlos Homes Pending Sale for the Week:

The following homes went into contract his week. Click on the address of each home to see more details and photos:

Address	DOM (days)	List Price
202 Timothy Drive	10	$1,798,000
1527 Magnolia Avenue	12	$1,388,000
84 Hilltop Drive	10	$1,375,000
1321 Cordilleras Avenue	14	$1,098,000
906 Montgomery Street	37	$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. _______________________________________________________________________________________

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 see more details and photos.

Address	List Price	BR/BA	Sq Ft (home/lot)	Listed By
2151 White Oak Way	$2,080,000	3BR/3BA	2,520/7,500	David Young, Coldwell Banker
790 Knoll Drive	$1,888,000	4BR/3BA	2,260/7,912	Tuan Tran, Zephyr Real Estate
173 Fairmont Avenue	$1,549,000	3BR/2BA	1,480/5,500	Marc Romer, Keller Williams
662 Dartmouth Avenue	$1,495,000	4BR/3BA	3,130/11,700	John Shroyer, Today Sothebys
140 Palm Avenue	$968,950	2BR/1BA	970/4,645	Lisa Susnow, Keller Williams

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.)

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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 of each home to see more details and photos.

 

Address	Sold Price	Orig. List	Difference	DOM
1 Laurel Street #302	$731,000	$649,000	+$82,000 (+12.6%)	11

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Condo/Townhouse Pending Sale this Week.

The following condos/townhouses went into contract this week. Click on the address of each home to see more details and photos.

Address	DOM (days)
3310 Brittan Avenue #18	13
2 Elm Street #202	5

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New Condo/Townhouse Listings in San Carlos:

The following condo/townhouses listed this past week. Click on the address of each home to see more details and photos.

Address	List Price	BR/BA	Sq Feet	Listed By
22 Buttercup Lane	$1,195,000	3BR/2.5BA	2,031	Kevin Ortega, Napa Valley Realty
9 Honeysuckle Lane	$1,100,000	2BR/2.5BA	1,800	Alex Konoff, Keller Williams

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