Home buyers stole the stage last week in San Carlos. There were almost twice as many single-family homes that went into contract (10) than there were new listings (6). This served to pull the inventory of homes for sale down a bit to 24 homes. That’s still higher than what we have been accustomed to for most of this spring, and it will still be a bit of a challenge to digest all of these listings. But clearly, buyers were out in droves last week looking at homes. It’s either that they are pushing to lock up their purchase before the summer vacation months hit, or they simply have more time now to seriously look for a home. Either way, the activity is definitely up, and should continue into next week.
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 5/22/2016:
|San Carlos Housing Data||5/22/16||Prior Week|
|Closed Sales for the Week:||4||4|
|Average Sold Price:||$2,088,750||$2,030,000|
|Average $/Sq Foot (Sold)||$838||$1,072|
|Average Sold as Percentage Of List Price:||109%||114%|
|Average DOM of Closed Sales||7||15|
|Total # of Homes Pending Sale:||32||25|
|No. of New Listings:||6||9|
|Total # of Active Listings:||24||29|
|Average Price of Active Listings:||$1,989,611||$1,905,159|
|Average DOM of Active Listings:||21||20|
|Average $/Sq Foot (List)||$871||$875|
|Active-Pending Ratio:||0.8 : 1||1.2 : 1|
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