Finally, Some Inventory.
It was an encouraging week for home buyers in San Carlos, and a somewhat irregular week for the statistics. First, six nice homes made their debut last week, which pushed the inventory back into double-digits for the first time in weeks. And there was a little something for all of the price ranges, from 2238 Brittan Avenue at $865,000 to 319 Emerald Avenue at $1,895,000.
Statistically speaking, it was a bit of a strange week since we did not have a single home close escrow during the entire period. That’s certainly a rarity — I can’t recall the last weekly update where this happened — but should not be misconstrued as a sign that the market is slowing down. There are still more homes pending sale than there are active listings, and the average days on market is still sitting at less than a week, so everything that is being put on the market is still selling quickly.
But if you’re trying to buy into this market, you knew that already.
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 2-15-2014:
|San Carlos Housing Data||2-15-14||Prior Week|
|Closed Sales for the Week:||0||2|
|Average Sold Price||$0||$1,444,000|
|Average $/Sq Foot (Sold)||$0||$966|
|Sold Price vs Orig List (%)||0%||118%|
|Average DOM of Closed Sales||0||11|
|No. of Homes Pending Sale:||18||16|
|Inventory of Active Listings:||12||7|
|Average Price of Active Listings:||$1,400,657||$1,481,841|
|Average DOM of Active Listings:||6||5|
|Average $/Sq Foot (List)||$717||$679|
|Active-Pending Ratio:||0.67 : 1||0.44 : 1|
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