January of 2015 is officially in the books, and it was a robust month by January standards. As I noted earlier on the blog, there were more new single family listings in January of this year than in any January in the past four years. And historically, January’s performance tends to be an indicator of how the year will go. So if that logic holds true, buyers should have a slightly better inventory to choose from this Spring. Let’s see if that holds up.
Along those very lines, February is off to a promising start with 6 single-family homes and 3 town homes making their market debut this past week. Market demand has remained very strong so far this year — of the four homes that went pending this past week, at least two of them fetched a significant number of offers. The listing at 205 Clifton raised everyone’s eyebrows when it was disclosed that it received 29 offers. That has not been the norm this Spring, or at any time in San Carlos, but it does highlight the fact that the market between $1M and $1.5M remains incredibly hot in this market.
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 2-8-2015:
|San Carlos Housing Data||2-8-15||Prior Week|
|Closed Sales for the Week:||1||4|
|Average Sold Price:||$1,350,000||$1,228,675|
|Average $/Sq Foot (Sold)||$785||$703|
|Average Sold – Percentage Of List Price:||113%||103%|
|Average DOM of Closed Sales||6||11|
|No. of Homes Pending Sale:||22||19|
|No. of Active Listings:||10||8|
|Average Price of Active Listings:||$1,297,900||$1,282,494|
|Average DOM of Active Listings:||7||18|
|Average $/Sq Foot (List)||$729||$689|
|Active-Pending Ratio:||0.45 : 1||0.42: 1|
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