I hope everyone had a safe and happy 4th of July weekend. It’s Monday, and time to get back to reality!
If there will ever be a part of this year where the momentum may swing slightly back in favor of home buyers, this next 5-6 weeks is probably going to be it. This is the time of year where buyers enjoy the unique combination of having the least amount of competition while there is still decent inventory to choose from. There have already been reports in the past week of homes in San Carlos and Belmont that have only gotten one offer – or none at all – once offer dates have been set. This is a sign that there are either fewer buyers in the market, or that the buyers that are out there have suddenly gotten a lot more picky. Whatever the reason is, this simply wasn’t happening just a few months ago.
Home owners who decide to sell during the summer months will wisely choose to avoid the 4th of July weekend, so you can expect to see a bump in new listings over the next couple of weeks since we have now passed that date. Home buyers that stay on task may be rewarded in the coming weeks.
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 7-5-2015:
|San Carlos Housing Data||7-5-15||Prior Week|
|Closed Sales for the Week:||3||2|
|Average Sold Price:||$1,465,000||$1,605,000|
|Average $/Sq Foot (Sold)||$860||$763|
|Average Sold as Percentage Of List Price:||105%||113%|
|Average DOM of Closed Sales||13||55|
|No. of Homes Pending Sale:||25||22|
|No. of New Listings:||4||4|
|Total # of Active Listings:||9||11|
|Average Price of Active Listings:||$1,714,889||$1,910,535|
|Average DOM of Active Listings:||19||19|
|Average $/Sq Foot (List)||$726||$737|
|Active-Pending Ratio:||0.36 : 1||0.50 : 1|
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