Much has been discussed on this site about the rocket-like trajectory of 3-bedroom home prices in San Carlos, since the 3-bedroom house makes up the majority of the housing stock in the city. But not to be overlooked is the pricing on 2-bedroom homes. It wasn’t too long ago that you could get a 2-bedroom home for under $1,000,000 on the west side of San Carlos. It’s pretty safe to assume that those days are long past us, as we witnessed 100 Garnet Avenue close this past week for $1,410,000 making it the 11th most expensive 2BR home to sell in San Carlos in the past 15 years. There are other 2-bedroom homes that are currently pending sale that will close well above the $1M mark as well.
Even the smallest of homes in the Greater East Side of San Carlos will be topping the $1M mark with regularity as prices continue to rise in San Carlos and all along the Peninsula. It doesn’t seem that far away that a 7-figure price will become the entry point for any single-family home in San Carlos. Even the dirt value of flat ~5,000 square foot flat lot on west side will easily top $1M.
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 5-3-2015:
|San Carlos Housing Data||5-3-15||Prior Week|
|Closed Sales for the Week:||4||7|
|Average Sold Price:||$1,523,750||$1,469,143|
|Average $/Sq Foot (Sold)||$882||$847|
|Average Sold as Percentage Of List Price:||120%||114%|
|Average DOM of Closed Sales||11||13|
|No. of Homes Pending Sale:||20||17|
|No. of New Listings:||5||6|
|Total # of Active Listings:||13||15|
|Average Price of Active Listings:||$1,786,073||$1,666,067|
|Average DOM of Active Listings:||17||18|
|Average $/Sq Foot (List)||$770||$772|
|Active-Pending Ratio:||0.65 : 1||0.88 : 1|
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