San Carlos Real Estate Summary.
What started out as an already challenging week for home buyers in San Carlos turned out to be one sheer impossibility as the numbers tilted even more in favor of home sellers. Over the course of the past seven days, 7 homes went into contract with only 2 new listings to counter-balance the depletion to the inventory. This resulted in a precipitous drop of 38% in the number of homes for sale in San Carlos, which means we’ll start the week off with a grand total of 8 single-family homes for sale in the entire city.
These numbers are unprecedented, and border on being nonsensical. With a single digit inventory, and an active/pending ratio of 0.32 (2 or above is considered to be normal), and some of the eye-popping prices that homes are fetching, it’s enough to put some frustrated buyers back on the sidelines to wait for more favorable conditions.
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 2-23-2013:
|San Carlos Housing Data||2-23-13||Prior Week|
|Closed Sales for the Week:
|Average Sold Price
|Average $/Sq Foot (Sold)
|Sold Price vs Orig List (%)||101%||111%|
|Average DOM of Closed Sales||25||10|
|No. of Homes Pending Sale:||25||23|
|Inventory of Active Listings:
|Average Price of Active Listings:||$1,528,299||$1,256,953
|Average DOM of Active Listings:||22||14|
|Average $/Sq Foot (List)||$596||$607|
||0.32 : 1||0.6 : 1|
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