The pendulum swung back toward the buyers direction this past week in San Carlos, at least temporarily, as ten new listings made their debut on the market. And during the same period of time only one home went into contract, which combined to temporarily push the inventory of single-family homes briefly up to 18. That’s not a huge number, but it’s 80% more than what we had at the same time just a week ago. Unless we get a similar push of new listings this week, don’t expect the inventory to stay at this level for long — homes that are on the market now are either going to sell, or you can expect that sellers who haven’t been successful may consider taking their home off the market for the holidays, and try a fresh start after the first of the year. Either way, I believe we will be looking at fairly sparse inventory from this point through the end of the 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 11-15-2014:
|San Carlos Housing Data||11-15-14||Prior Week|
|Closed Sales for the Week:||6||3|
|Average Sold Price:||$1,590,833||$1,833,333|
|Average $/Sq Foot (Sold)||$762||$776|
|Average Sold – Percentage Of List Price:||108%||117%|
|Average DOM of Closed Sales||22||11|
|No. of Homes Pending Sale:||19||23|
|No. of Active Listings:||18||10|
|Average Price of Active Listings:||$1,391,035||$1,632,066|
|Average DOM of Active Listings:||32||57|
|Average $/Sq Foot (List)||$770||$760|
|Active-Pending Ratio:||0.94 : 1||0.48: 1|
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