The San Carlos Real Estate Week in Review: 5/1/2017.
May 1, 2017
There is subtle yet significant difference in the San Carlos real estate market when you compare 2016 to 2017. In both years, the market started out very strong for the first three months of the year. Then at the end of March in both years, a significant surge of new listings hit the market. The big difference is that in 2016, this surge caused the market to stumble (relatively speaking) for most of the rest of the year. Buyers felt as if they had more to choose from, and the pace and intensity of the market waned – especially for homes that didn't have all of the right stuff. This was especially noticeable in the second half of the year when multiple offers and 10% premiums over the list price were harder to come by.
But in 2017, the market has behaved entirely differently. Not only did it consume the late-March listing surge with a voracious appetite, but that intensity and urgency has continued unabated right through the end of April. Just look at the numbers below. A week ago, we had a relatively big surge of 11 new listings that hit the market — twice the weekly average of what we have seen so far this year. But buyers scooped up listings faster than they were hitting the market. Just last week, a whopping 12 homes went into contract, effectively pushing the inventory back down to 11 homes for sale in all of San Carlos. And when you see some of the prices that these homes fetched, it will be jaw-dropping.
Later this week, I will update the graph that shows the number of homes that have sold for $2,000,000 or more in San Carlos over the past 8 years. The numbers are simply staggering.
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 4/30/2017:
San Carlos SFR Data | 4/30/17 | Prior Week |
---|---|---|
Closed Sales for the Week: | 11 | 3 |
Average Sold Price: | $1,601,364 | $1,749,000 |
Average % of List Price: | 109% | 118% |
Average DOM of Closed Sales | 10 | 7 |
Average $/Sq Foot (Sold) | $963 | $1,045 |
No. of New Listings: | 6 | 11 |
Total # of Active Listings: | 11 | 18 |
Average Price of Active Listings: | $2,007,790 | $1,765,933 |
Average DOM of Active Listings: | 11 | 8 |
Average $/Sq Foot (List) | $988 | $943 |
Total # of Homes Pending Sale: | 28 | 25 |
Active-Pending Ratio: | 0.39 : 1 | 0.72 : 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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San Carlos Single-Family Residences 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) |
---|---|---|---|---|
17 Primrose Lane | $2,200,000 | $1,850,000 | +$350,000 (+18.9%) | 7 |
785 Cordilleras Avenue | $2,100,000 | $1,995,000 | +$105,000 (+5.3%) | 0 |
205 Highland Avenue | $1,732,000 | $1,549,000 | +$183,000 (+11.8%) | 8 |
1012 Sylvan Drive | $1,600,000 | $1,249,000 | +$351,000,000 (+28.1%) | 14 |
1161 Woodland Avenue | $1,600,000 | $1,499,000 | +$183,000 (+6.7%) | 9 |
133 Madera Avenue | $1,556,000 | $1,550,000 | +$6,000 (+0.4%) | 26 |
1426 Chestnut Street | $1,450,000 | $1,328,000 | +$122,000 (+9.2%) | 2 |
1049 Sunset Drive | $1,410,000 | $1,299,000 | +$111,000 (+8.5%) | 13 |
1056 Riverton Drive | $1,400,000 | $1,298,000 | +$102,000 (+7.9%) | 9 |
534 Wellington Drive | $1,348,000 | $1,348,000 | $0 (0%) | 11 |
734 Neal Avenue | $1,219,000 | $1,249,000 | -$30,000 (-2.4%) | 8 |
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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 |
---|---|---|
45 Maple Way | 3 | $1,335,000 |
677 Knoll Drive | 4 | $3,495,000 |
3189 La Mesa Drive | 6 | $1,995,000 |
244 Windsor Drive | 6 | $1,328,000 |
2424 Saint Francis Way | 14 | $1,398,000 |
3020 Melendy Drive | 8 | $1,895,000 |
2032 Arroyo Avenue | 8 | $1,549,950 |
2417 Graceland Avenue | 25 | $1,495,000 |
224 Ruby Avenue | 7 | $1,998,000 |
224 Oakview Drive | 8 | $1,098,000 |
201 Exeter Avenue | 7 | $1,725,000 |
147 Leslie Drive | 3 | $2,195,000 |
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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 |
---|---|---|---|---|
1360 Eaton Avenue | $3,675,000 | 4BR/2.5BA | 2,350/11,000 | Craig Suhl, Suhl and Company |
147 Leslie Drive | $2,195,000 | 5BR/3BA | 2,660/13,300 | Bob Bredel, Dwell Realtor |
2415 Eaton Avenue | $1,850,000 | 3BR/2BA | 1,960/8,788 | Greg Damelio, Today Sothebys |
2717 San Miguel Way | $1,850,000 | 3BR/2.5BA | 2,480/9,585 | Steven Karp, California Realty |
7 Phillip Lane | $1,599,000 | 3BR/2BA | 1,620/5,170 | Sue Mahlstedt, Coldwell Banker |
2441 San Carlos Avenue | $1,485,850 | 3BR/2BA | 1,601/7,000 | Stephan Marshall, Coldwell Banker |
(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 (days) |
---|---|---|---|---|
3356 La Mesa Drive #5 | $950,000 | $849,000 | +$101,000 (+11.9%) | 3 |
3324 Brittan Avenue #6 | $875,000 | $795,000 | +$80,000 (+10.0%) |
6 |
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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 |
---|---|---|
757 Elm Street #11 | 32 | $849,000 |
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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 |
---|---|---|---|---|
6 Lilly Lane | $1,275,000 | 2BR/2.5BA | 1,793 | Edward Pozzi, Keller Williams |
793 Elm Street #18 | $998,000 | 2BR/2BA | 1,524 | Vivienne Kelvin, Realty World |
3321 Brittan Avenue #11 | $795,000 | 2BR/2BA | 1,040 | Mark Martinho, Vabrato |
3376 La Mesa Drive #5 | $785,000 | 2BR/2BA | 1,040 | Edward Pozzi, 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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