San Carlos Real Estate Summary.
I read somewhere this week that it might be turning into a buyer’s market in San Carlos. I don’t think so. All of the key metrics still point to a very competitive environment for buyers, which makes it very much a seller’s market. Inventory is tight, with only 47 homes for sale. And of the four homes that closed escrow last week, 3 sold for over list price — at an average stay on the market of only 6 days. That’s not an environment that tells me that buyers are calling the shots. Even homes that have been on the market for up to 3 months are starting to go into contract. With the Fall market just a couple of weeks away, it will be interesting to see how the expected surge of new inventory will affect the pace of sales.
Here’s a quick snapshot of the inventory of San Carlos single family homes as of 8-20-2011:
|Active Listings||47||48 (-2.1%)|
|Average Price of Active Listings||$1,017,234||$1,034,133 (-1.6%)|
|Average DOM of Active Listings||73||71|
|No. of Homes Pending Sale||45||43 (+4.7%)|
|Ratio of Active:Pending||1.0 : 1||1.1 : 1|
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