The San Carlos real estate market seems to be charging out the gate this January, very much in contrast to the Januarys of prior years. This past week alone, there were 7 new single-family listings to debut on the market, which pushed the inventory back to double-digits for the first time in over a month.
There is a widely held belief that the true start of the real estate market is after the Super Bowl is completed. This may have been true since for many years a local team was either in the big game, or at least competing for it. But we all know that this year is different, right? Perhaps this is a reason for the early season surge that we are seeing, or it could be that home sellers are sensing that it’s time to cash out and move on. Either way, we’re off to a promising start so far.
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 1-17-2015:
|San Carlos Housing Data||1-17-15||Prior Week|
|Closed Sales for the Week:||1||3|
|Average Sold Price:||$1,150,000||$1,485,000|
|Average $/Sq Foot (Sold)||$1,250||$603|
|Average Sold – Percentage Of List Price:||118%||97%|
|Average DOM of Closed Sales||8||31|
|No. of Homes Pending Sale:||16||13|
|No. of Active Listings:||10||5|
|Average Price of Active Listings:||$1,659,000||$1,310,990|
|Average DOM of Active Listings:||15||9|
|Average $/Sq Foot (List)||$758||$758|
|Active-Pending Ratio:||0.63 : 1||0.38: 1|
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