The late-summer slowdown continued in the San Carlos real estate market this past week as the summer break starts to wrap up. For those buyers still looking in San Carlos, these are the market conditions that you’ve been waiting for all year — less competition, fewer multiple offers, and continued favorable interest rates. Just look at the pending sales numbers this past week. For the 5 homes that went pending, they took an average of over 21 days to get into contract, and most only had one offer to work with. That’s an incredible difference from just a few months ago when everything was garnering multiple offers and moving in the first 7-10 days.
Granted, inventory is a bit sparse with only 17 homes to choose from, but there are still some really nice homes just sitting on the market right now. But look for that to change starting around Labor Day. Inspectors and stagers are reporting that they are getting booked out weeks in advance, which means there are more new listings coming. I will have two incredibly beautiful San Carlos listings that will be hitting the market in September — both are in prime locations in White Oaks and Howard Park. Stay tuned to the site in the coming weeks for more info about these stellar homes.
Here are the details 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 8-16-2014:
|San Carlos Housing Data||8-16-14||Prior Week|
|Closed Sales for the Week:||4||4|
|Average Sold Price:||$1,432,500||$1,428,750|
|Average $/Sq Foot (Sold)||$654||$816|
|Average Percentage Over List Price:||105%||101%|
|Average DOM of Closed Sales||17||19|
|No. of Homes Pending Sale:||22||19|
|No. of Active Listings:||17||21|
|Average Price of Active Listings:||$1,581,693||$1,522,511|
|Average DOM of Active Listings:||21||33|
|Average $/Sq Foot (List)||$745||$728|
|Active-Pending Ratio:||0.77 : 1||1.1 : 1|
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