Home prices in San Carlos continue to be on an absolute tear. This past week marked probably the highest amount above the asking price for closed sales of any week since I have been tracking stats on this blog — a whopping 23% on average above the list price. This was skewed upward somewhat by the sale at 2408 San Carlos Avenue, which fetched 45% above the list price.
But the rest of the homes in the sold list below all posted breathtaking premiums over their respective asking prices, the lowest being $151,000 and half of the list fetching $300,000 or higher. That is some serious market muscle. Unfortunately, there’s not much relief in sight — we will be starting the week off with only 8 homes for sale in the city and some of these present some unique challenges. Let’s hope for a strong surge of listings this week.
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 3-22-2015:
|San Carlos Housing Data||3-22-15||Prior Week|
|Closed Sales for the Week:||6||4|
|Average Sold Price:||$1,691,500||$1,601,559|
|Average $/Sq Foot (Sold)||$868||$798|
|Average Sold as Percentage Of List Price:||123%||112%|
|Average DOM of Closed Sales||9||14|
|No. of Homes Pending Sale:||16||16|
|No. of New Listings:||3||6|
|Total # of Active Listings:||8||11|
|Average Price of Active Listings:||$1,413,000||$1,362,632|
|Average DOM of Active Listings:||17||12|
|Average $/Sq Foot (List)||$832||$847|
|Active-Pending Ratio:||0.69 : 1||0.69: 1|
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