It’s amazing how much of an effect the Super Bowl has on the local economy — especially when either of the local teams is participating in the game, or like we saw yesterday, when the game is played in the Bay Area. Nothing dares compete with the 800 pound gorilla in the room on this particular Sunday, especially the local real estate market. The numbers below prove that point. There wasn’t a new single-family residence listing this past week, and only two homes went into contract.
It has long been the understood that the spring real estate market really doesn’t start to gain traction until after the Super Bowl, regardless of who is playing. So if this theory holds true, we should start to see a more robust market starting tomorrow. Both the buyers and the sellers in this market hope that is indeed the case.
Here are last week’s numbers:
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 2/7/2016:
|San Carlos Housing Data||2/7/16||Prior Week|
|Closed Sales for the Week:||2||0|
|Average Sold Price:||$1,797,500||$0|
|Average $/Sq Foot (Sold)||$868||$0|
|Average Sold as Percentage Of List Price:||99%||0%|
|Average DOM of Closed Sales||80||0|
|Total # of Homes Pending Sale:||17||17|
|No. of New Listings:||0||3|
|Total # of Active Listings:||7||13|
|Average Price of Active Listings:||$1,518,818||$1,516,853|
|Average DOM of Active Listings:||34||22|
|Average $/Sq Foot (List)||$751||$801|
|Active-Pending Ratio:||0.41 : 1||0.53 : 1|
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