There were some very strong closings this week that served as a stark reminder of the continued strength of the San Carlos real estate market. The most notable was the home at 2235 Carmelita Drive, which closed at $2,272,000 – or a whopping $574,000 above the asking price. And not far behind was the newly renovated home at 1355 Central Avenue, which fetched a $312,000 premium when it closed at $2,310,000. Both are listed below in the “Sold” section of the post below.
This highlights the fact that home buyers in San Carlos are still willing to go to the mat for that “X-factor” that they haven’t been able to find in San Carlos, nor afford in other pricier communities. Whether it’s getting that rare extra bedroom or two, having an address on a desirable street, securing that killer bay view, or simply finding a home with a flat back yard; buyers continue to demonstrate that they’re still willing to pay top dollar to get what they want in San Carlos.
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 4-26-2014:
|San Carlos Housing Data||4-26-14||Prior Week|
|Closed Sales for the Week:||11||4|
|Average Sold Price:||$1,460,636||$1,211,000|
|Average $/Sq Foot (Sold)||$729||$804|
|Sold Price vs Orig List Price:||105%||107%|
|Average DOM of Closed Sales||28||17|
|No. of Homes Pending Sale:||28||36|
|No. of Active Listings:||11||9|
|Average Price of Active Listings:||$1,574,864||$1,607,111|
|Average DOM of Active Listings:||17||16|
|Average $/Sq Foot (List)||$733||$673|
|Active-Pending Ratio:||0.25 : 1||0.25 : 1|
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