The fall market is starting to wind down, as it normally does right about this time of the year. Only one new listing hit the market last week in San Carlos, and the inventory of available homes has dropped back down to 13. Worse yet for home buyers, when you take a closer look at that list of 13, easily half of those could be in contract before the Thanksgiving holiday, which will drive that inventory well back back into the single digits. It will likely remain at that level through the remainder of year, short of some unexpected surge of new listings, which is definitely atypical in December. After the Thanksgiving week, there are really only 3 weeks remaining weeks in the year that are not interrupted by a holiday, so the number of home shopping days is definitely limited.
Happy Thanksgiving to all the loyal readers of the White Oaks Blog! I hope you have an enjoyable and memorable holiday with friends and family.
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 11-22-2014:
|San Carlos Housing Data||11-22-14||Prior Week|
|Closed Sales for the Week:||8||6|
|Average Sold Price:||$1,139,750||$1,590,833|
|Average $/Sq Foot (Sold)||$907||$762|
|Average Sold – Percentage Of List Price:||104%||108%|
|Average DOM of Closed Sales||20||22|
|No. of Homes Pending Sale:||16||19|
|No. of Active Listings:||18||18|
|Average Price of Active Listings:||$1,244,799||$1,391,035|
|Average DOM of Active Listings:||36||32|
|Average $/Sq Foot (List)||$707||$770|
|Active-Pending Ratio:||1.1 : 1||0.94: 1|
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