Rain Won’t Put Out the Fire.
The rain that we so desperately needed did not deter house hunters from getting out and seeing homes this past weekend. The few homes that were open on Saturday and Sunday all seemed to have lots of traffic through them, which shows that buyers truly understand the dynamics of this market. It’s not going to slow down for the weather.
Before anyone freaks out about the sold data below, it’s important to factor in the sample size of that the data is being pulled. So even though the average price per square foot jumped to an astronomical $966 this week, and the average home sold for a whopping 18% above the asking price, you have to bear in mind that this data is for only 2 homes. With such a small sample size, it’s easy for one (or both) sales to skew the numbers, which is clearly what happened this week. That’s not to say that the market is not strong — but we’re not knocking on $1,000/sq foot as an average in San Carlos.
At least not yet…
Here are the details from last week:
By The Numbers.
Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 2-8-2014:
|San Carlos Housing Data||2-8-14||Prior Week|
|Closed Sales for the Week:||2||3|
|Average Sold Price||$1,444,000||$1,670,000|
|Average $/Sq Foot (Sold)||$966||$708|
|Sold Price vs Orig List (%)||118%||97%|
|Average DOM of Closed Sales||11||95|
|No. of Homes Pending Sale:||16||12|
|Inventory of Active Listings:||7||6|
|Average Price of Active Listings:||$1,481,841||$1,170,481|
|Average DOM of Active Listings:||5||7|
|Average $/Sq Foot (List)||$679||$702|
|Active-Pending Ratio:||0.44 : 1||0.5 : 1|
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