The first week of December was off like a shot, with seven new single-family home listings to hit the market in San Carlos. This brought the inventory of homes for sale back up to 10, which is still not a whole lot to choose from, but certainly better than last week. Home buyers weren’t that busy last week simply because there was so little to choose from, and consequently only one home was put into contract.
Prices on homes that closed escrow last week were much closer to their original asking price, fetching only an average of 3% over. In fact, half of the homes that sold last week didn’t even achieve their asking price, which is yet another indication that the market is simply not quite as hot as it was in the spring.
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 12-6-2015:
|San Carlos Housing Data||12-6-15||Prior Week|
|Closed Sales for the Week:||4||2|
|Average Sold Price:||$1,603,250||$1,455,000|
|Average $/Sq Foot (Sold)||$876||$1,124|
|Average Sold as Percentage Of List Price:||103%||120%|
|Average DOM of Closed Sales||13||7|
|No. of Homes Pending Sale:||18||21|
|No. of New Listings:||7||0|
|Total # of Active Listings:||10||6|
|Average Price of Active Listings:||$1,563,600||$1,730,667|
|Average DOM of Active Listings:||23||54|
|Average $/Sq Foot (List)||$773||$853|
|Active-Pending Ratio:||0.56 : 1||0.29 : 1|
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