As we enter the final weeks of the year, the pace of activity is starting to slow down. This is to be expected, since December and January are perennially two of the slower months in the real estate year. Last week, “2” seemed to be the magic number — two new listings, two pending sales, and two closed escrows.
I would expect more of the same this week as we start the final “full” week of 2014. Most people who are considering selling their homes will likely wait until after the first of the year to avoid competing with the holiday season. This is a big reason why our inventory is where it’s at — a combined total of 5 homes, townhomes, and condos available in the entire city! I can’t remember a time when inventory was that low.
But rest assured, that will change in the new year…
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 12-13-2014:
|San Carlos Housing Data||12-13-14||Prior Week|
|Closed Sales for the Week:||2||5|
|Average Sold Price:||$1,288,000||$1,255,100|
|Average $/Sq Foot (Sold)||$1,009||$798|
|Average Sold – Percentage Of List Price:||120%||114%|
|Average DOM of Closed Sales||11||17|
|No. of Homes Pending Sale:||18||18|
|No. of Active Listings:||4||6|
|Average Price of Active Listings:||$1,344,250||$1,467,798|
|Average DOM of Active Listings:||19||35|
|Average $/Sq Foot (List)||$777||$722|
|Active-Pending Ratio:||0.21 : 1||0.33: 1|
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