You may have been wondering how much a 10,500 square foot flat lot in prime, central San Carlos would set you back. Well, this week you finally got your answer: $1,655,500 — which is the price that 1348 Cedar Street fetched after being purchased through the probate court system. This may sound like a shocking amount of money for what is basically dirt value, since the home that’s on the property now is essentially a tear-down. But oddly enough, this price didn’t surprise me nor any of my other colleagues who are also experts in the San Carlos real estate market. When this property first hit the market, I polled a few of them about how high this property could go and I got numbers anywhere from $1.6M to $1.75M. So it landed right about where we expected, which just goes to show you how quickly one can get desensitized to the prices that are being tossed around in this market. It’s an amazing piece of property in a great location, and I can’t wait to see what will become of it.
For the rest of the San Carlos market, it was a fairly lackluster week. The upside of over $800,000 on the list price of 1348 Cedar served to put rest of the market positive territory in what would have otherwise been a negative performing week for closed sales – none of the other three homes that closed escrow this past week exceeded their original asking price, which is a first in quite some time.
Inventory didn’t change much, with only 4 new homes being offered for sale. That increase was offset by the same amount of homes going into contract.
Here’s the recap from last week:
Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 10-25-2015:
|San Carlos Housing Data||10-25-15||Prior Week|
|Closed Sales for the Week:||4||2|
|Average Sold Price:||$2,547,375||$2,240,00|
|Average $/Sq Foot (Sold)||$968||$646|
|Average Sold as Percentage Of List Price:||120%||107%|
|Average DOM of Closed Sales||41||12|
|No. of Homes Pending Sale:||24||24|
|No. of New Listings:||4||4|
|Total # of Active Listings:||13||14|
|Average Price of Active Listings:||$1,985,376||$1,815,982|
|Average DOM of Active Listings:||24||24|
|Average $/Sq Foot (List)||$876||$834|
|Active-Pending Ratio:||0.54 : 1||0.58 : 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 Single-Family Homes Sold:
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 (days)|
|138 Kings Court||$3,375,000||$3,788,000||-$413,000 (-10.9%)||53|
|1149 Greenbrier Road||$2,550,000||$2,695,000||-$145,000 (-5.4%)||39|
|920 Heather Drive||$2,249,000||$2,249,000||$0 (0%)||13|
|1348 Cedar Street||$1,655,500||$849,000||+$806,500 (+95%)||58|
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. The source of this data is the Multiple Listing Service (MLS). Author is in now way responsible for the accuracy of the data from this source.
San Carlos Single-Family Homes Pending Sale:
The following single-family homes went into contract in San Carlos this past week. Click on the address of each home to see more details and photos:
|Address||DOM (days)||List Price|
|1090 Drake Court||38||$1,499,000|
|90 Cedar Street||16||$1,499,000|
|3169 Brittan Avenue||11||$1,349,950|
|39 Bayport Court||9||$1,199,950|
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|
|1880 Carmelita Drive||$2,945,000||4BR/2BA||3,380/21,500||Lynn Wilson Roberts, Alain Pinel Realtors|
|1281 Crestview Drive||$1,658,888||4BR/2.5BA||2,270/14,616||Jeannie Hu, Realty World|
|62 Madera Avenue||$1,645,000||5BR/3BA||2,590/5,700||Craig Smith, Intero|
|1437 Oakhurst Avenue||$1,225,000||3BR/1BA||1,290/4,400||Tamara Patterson, 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. This data is pulled from the Multiple listing service, and the author is in no way responsible for the accuracy of the data provided herein.
(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 of each home to see more details and photos.
|Address||Sold Price||Orig. List||Difference||DOM (days)
|6 Trillium Lane||$1,500,000||$1,250,000|| +$250,000 (+20%)
|939 Laurel Street #215||$788,000||$688,000|| +$100,000 (+14.5%)
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)||List Price|
|1001 Laurel Street #223||9||$1,050,000|
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|
|1625 San Carlos Avenue #A||$1,299,000||3BR/3BA||2,190||Anna Karpie, RE/MAX|
(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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