The dramatic drop-off in new listings in the San Carlos market last week really surprised everyone who watches this market closely. There were only 3 new listings to pop up last week, and only one of them listed on Friday. That meant that prospective home buyers had only 15 single-family homes in the entire city to choose from over this past weekend. With all of the pre-sales activity that has been going on behind the scenes, that’s just a surprisingly low number. When you combine that with the 7 homes that went into contract over the same period, our inventory is starting to look like it did back in the spring — really slim.
But there should be more hitting the market this week. I have another fabulous San Carlos home in the flats that I will be listing later this week — stay tuned to the site for more details.
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 9-13-2014:
|San Carlos Housing Data||9-13-14||Prior Week|
|Closed Sales for the Week:||3||6|
|Average Sold Price:||$1,173,333||$1,315,000|
|Average $/Sq Foot (Sold)||$653||$820|
|Average Sold – Percentage Of List Price:||101%||99%|
|Average DOM of Closed Sales||31||27|
|No. of Homes Pending Sale:||34||27|
|No. of Active Listings:||15||20|
|Average Price of Active Listings:||$1,411,779||$1,327,326|
|Average DOM of Active Listings:||18||17|
|Average $/Sq Foot (List)||$734||$743|
|Active-Pending Ratio:||0.44 : 1||0.74 : 1|
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