The inventory of single-family homes in San Carlos continued to hold in the mid-20’s again this past week. There are still quite a few sellers that are looking to get their homes sold before we hit the 4th of July weekend, so I expect that new listing will continue to be brisk this week. Since only 3 homes went into contract last week, it’s conceivable that we could hit 30 homes for sale in San Carlos by the time this weekend rolls around. That will certainly play in the favor of home buyers, who will now have more homes to choose from.
Traditionally, July is one of the slower months in local residential real estate. Many buyers and sellers are on vacation, and sellers who are not in a rush to sell will opt to wait until the Fall when the buyers are back. But we are in a transitional market right now, and some sellers may choose forgo conventional wisdom and list their homes in July or August, since the forecast for the fall market is somewhat uncertain. Buyers who stick around this summer may indeed find the home that has eluded them so far this year.
Here is a look at 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 6/19/2016:
|San Carlos Housing Data||6/19/16||Prior Week|
|Closed Sales for the Week:||7||9|
|Average Sold Price:||$1,949,286||$1,914,000|
|Average $/Sq Foot (Sold)||$956||$989|
|Average Sold as Percentage Of List Price:||107%||114%|
|Average DOM of Closed Sales||10||9|
|Total # of Homes Pending Sale:||33||34|
|No. of New Listings:||8||6|
|Total # of Active Listings:||24||22|
|Average Price of Active Listings:||$1,846,447||$2,020,529|
|Average DOM of Active Listings:||30||27|
|Average $/Sq Foot (List)||$875||$860|
|Active-Pending Ratio:||0.73 : 1||0.65 : 1|
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