For the second straight week, the spring real market was literally jumping in San Carlos. 10 new listings hit the street, ranging in price from $840K to $2.3M, and almost as many homes were plucked off the market by eager buyers. The net result of all of this buying and selling is that inventory of homes for sale as of this morning bumped up slightly to 16.
Home buyers are really hoping for more of the same type of activity this week, since each solid wave of new listings seems to diffuse some of the buying pressure in this market environment, albeit slightly, since it doesn’t feel like everyone is competing for the same house. Much like the situation we have with the drought, it’s going to take quite a few more weeks of this type of activity to saturate this market and settle it down a bit. But the last two weeks were a very good start.
Here are the details from last week:
By The Numbers.
Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 3-1-2014:
|San Carlos Housing Data||3-1-14||Prior Week|
|Closed Sales for the Week:||5||4|
|Average Sold Price:||$1,022,400||$1,092,000|
|Average $/Sq Foot (Sold)||$699||$865|
|Sold Price vs Orig List Price:||112%||113%|
|Average DOM of Closed Sales||11||11|
|No. of Homes Pending Sale:||25||22|
|No. of Active Listings:||16||12|
|Average Price of Active Listings:||$1,382,875||$1,319,143|
|Average DOM of Active Listings:||8||6|
|Average $/Sq Foot (List)||$631||$694|
|Active-Pending Ratio:||0.64 : 1||0.67 : 1|
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