San Carlos Real Estate Summary.
Buyers were certainly busy this past week in San Carlos. 10 homes went into contract over the past 7 days, leaving us once again with a paltry inventory level heading into the new week. In fact, the ratio of active/pending is so absurdly low this week that it’s almost comical. As I’ve stated before, in a normal market, you’d expect that ratio to be at least 2.0 – 3.0….i.e. 2-3 times as many homes for sale as the number that are pending sale. This week it sits at 0.34!! It almost defies logic to have that number sitting below 1 for as long as it has been. But that’s the market we are in right now, and there doesn’t seem to be any indication that it’s changing any time soon.
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 4-27-2013:
|San Carlos Housing Data||4-27-13||Prior Week|
|Closed Sales for the Week:
|Average Sold Price
|Average $/Sq Foot (Sold)
|Sold Price vs Orig List (%)||111%||111%|
|Average DOM of Closed Sales||30||13|
|No. of Homes Pending Sale:||32||25|
|Inventory of Active Listings:
|Average Price of Active Listings:||$1,381,985||$1,528,493
|Average DOM of Active Listings:||16||13|
|Average $/Sq Foot (List)||$579||$638|
||0.34 : 1||0.6 : 1|
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