San Carlos Real Estate Summary.
There wasn’t too much in the way of new listings to hit the market this past week. And with 4 more homes going into contract, the net result is that our inventory of homes for sale is stuck in the low teens — again. One effect that we have touched on in recent weeks (and will continue to monitor) is the strong uptick in home prices in San Carlos. As home sales for Q1 are now closing escrow, we’re starting to see evidence of where prices are headed. Just this past week, the average price for the homes that sold jumped to an incredible $739/sq foot, which is an astounding leap over the already high $669/sq foot that was set last week. It used to be extremely rare for any medium-large sized home break $700/sq foot in San Carlos. In the coming months as you see these sales being reported, it’s going to become commonplace.
Here are the numbers 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 3-9-2013:
|San Carlos Housing Data||3-9-13||Prior Week|
|Closed Sales for the Week:
|Average Sold Price
|Average $/Sq Foot (Sold)
|Sold Price vs Orig List (%)||107%||111%|
|Average DOM of Closed Sales||11||9|
|No. of Homes Pending Sale:||25||24|
|Inventory of Active Listings:
|Average Price of Active Listings:||$1,469,072||$1,475,676
|Average DOM of Active Listings:||31||25|
|Average $/Sq Foot (List)||$602||$626|
||0.48 : 1||0.54 : 1|
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