The activity in the local real estate market dropped noticeably as we head into the last two weeks of 2015. There were no new listings of any kind in San Carlos, and the inventory of single family homes has been depleted to a total of five — and that will drop to four very soon when 2525 Nanette Drive goes pending this week.
The big news last week was that the Federal Reserve decided to inch up interest rates for the first time in nearly a decade. They have also left the door open to future incremental increases in the base rate over the next several years. It remains to be seen what effect, if any, this policy change will have on the local real estate market. The real estate market in the bay area seems to work under a different set of rules, and often simply shrugs off policy changes such as this.
Enjoy your Christmas holiday! 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 12-20-2015:
|San Carlos Housing Data||12-20-15||Prior Week|
|Closed Sales for the Week:||5||4|
|Average Sold Price:||$1,790,000||$1,795,000|
|Average $/Sq Foot (Sold)||$864||$944|
|Average Sold as Percentage Of List Price:||101%||108%|
|Average DOM of Closed Sales||24||15|
|No. of Homes Pending Sale:||17||19|
|No. of New Listings:||0||7|
|Total # of Active Listings:||5||9|
|Average Price of Active Listings:||$1,477,000||$1,503,222|
|Average DOM of Active Listings:||11||8|
|Average $/Sq Foot (List)||$644||$764|
|Active-Pending Ratio:||0.29 : 1||0.47 : 1|
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