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San Carlos Real Estate March 27, 2017

The San Carlos Real Estate Week in Review: 3/27/2017.

by Chuck Gillooley

We are heading into the final week of March 2017, and it was at this exact time last year that we experienced a strong uptick in new listings in San Carlos. The inventory of single-family homes for sale at that time was sitting at about 14, and in the matter of 10 days we had a rush of new listings that pushed that number all the way up to 30. The effect of that surge was quite noticeable to anyone that had a listing on the market. The pressure seemed to have been lifted from the buying population, and their demeanor during open houses was far more deliberate and less desperate.

That malaise recurred several times during the remainder of 2016, most notably the period of time between September and November when one would expect buying activity to be brisk. But as well all know now, the market has come charging out of the gate during the first three months of the new year.

The big question on everyone’s mind is this: Will we see this uptick in inventory again this year, and if so, what impact will it have on the market?

There were 5 new listings to hit the San Carlos market just this morning (they don’t make the numbers below because I set the deadline for data on Sunday night). That alone has increased the inventory level in San Carlos by 55% in a single morning. If this is any indication of what is coming, then yes, we may be headed toward another significant inventory surge in the Spring market.

Here is a look at last week’s numbers:

The Numbers.

Below is a high-level view of the market performance for single-family residences (SFR) in San Carlos. This data is for the 7-day period ending Sunday 3/26/2017:

San Carlos SFR Data 3/26/17 Prior Week
Closed Sales for the Week: 5 7
Average Sold Price: $1,815,000 $1,663,698
Average % of List Price: 110% 108%
Average DOM of Closed Sales 10 9
Average $/Sq Foot (Sold) $967 $1,062
No. of New Listings: 4 5
Total # of Active Listings: 9 10
Average Price of Active Listings: $2,121,000 $2,194,195
Average DOM of Active Listings: 13 14
Average $/Sq Foot (List) $838 $938
Total # of Homes Pending Sale: 19 19
Active-Pending Ratio: 0.47 : 1 0.53 : 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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San Carlos Single-Family Residences Sold:

 

104 Dundee Lane
104 Dundee Lane

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)
104 Dundee Lane $2,580,000 $2,398,000 +$182,000 (+7.6%) 8
8 Dover Court $1,800,000 $1,775,000 +$25,000 (+1.4%) 11
172 Lyndhurst Avenue $1,760,000 $1,550,000 +$210,000 (+13.5%) 8
1671 Hull Drive $1,525,000 $1,348,000 +$177,000 (+13.1%) 8
1016 Inverness Drive $1,410,000 $1,249,000 +$161,000 (+12.9%) 13

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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
1521 Cedar Street 39 $2,159,000
1041 Cherry Street 3 $988,000
1436 Cordilleras Avenue 8 $2,398,000
293 Club Drive 5 $2,150,000
205 Highland Avenue 8 $1,549,000

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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
17 Primrose Lane $1,850,000 4BR/3BA 2,670/14,000 Mariana Pappalardo, Today Sothebys
1136 Walnut Street $1,528,000 3BR/2BA 1,620/4,800 Tim Gilmartin, Gilmartin Group
1090 Cedar Street $1,449,950 3BR/2.5BA 1,910/6,050 David Blewett, Intero
534 Wellington Drive $1,348,000 3BR/2.5BA 1,615/7,050 Justine Ford & Associates

 

(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 of each home to see more details and photos.

Address Sold Price Orig. List Difference DOM (days)
3 Buttercup Lane $1,300,000 $1,198,000 +102,000 (+8.5%)
13

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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) List Price
16 Buttercup Lane 13 $1,148,888

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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
645 Prospect Street #201 $949,000 2BR/2BA 1,598 Sean Clar, RE/MAX
3356 La Mesa Drive #5 $849,000 3BR/2BA 1,239 Myrna Peterson, AMP Properties
3299 La Mesa Drive #10 $649,000 1BR/1BA 741 Trish Ward, Keller Williams

Disclaimer: The “San Carlos Week in Review” series is a summary of new listings and home sales in San Carlos for the prior week. The data provided in this report is strictly for informational purposes only, and should not imply that the author was involved in either side of the transaction unless explicitly stated otherwise. The source of this data is the Multiple Listing Service (MLS), so the author is in now way responsible for the accuracy of the data from this sourc

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