The real estate activity in San Carlos last week was about as brisk as the weather. Not surprisingly, there were six new listings to enter the market, which puts them in a perfect position to have one or two open house weekends and still get into contract before the Thanksgiving holiday.
Any hopes of home prices starting to soften will probably be dashed when you take a glance at the numbers below. There was a $3M and a $2M closing in the very same week – and we’re in November, which is usually one of the slower months. But the six new listings bumped the inventory up to 14 total homes for sale, and there’s something to see in just about every price range. It will be interesting to see how many more sellers test the market early this week before we get too close to the Thanksgiving break.
Here’s the recap from last week:
Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 11-15-2015:
|San Carlos Housing Data||11-15-15||Prior Week|
|Closed Sales for the Week:||6||3|
|Average Sold Price:||$1,932,083||$1,444,333|
|Average $/Sq Foot (Sold)||$883||$869|
|Average Sold as Percentage Of List Price:||112%||109%|
|Average DOM of Closed Sales||14||13|
|No. of Homes Pending Sale:||20||23|
|No. of New Listings:||6||3|
|Total # of Active Listings:||14||11|
|Average Price of Active Listings:||$1,566,706||$1,910,616|
|Average DOM of Active Listings:||24||28|
|Average $/Sq Foot (List)||$900||$897|
|Active-Pending Ratio:||0.70 : 1||0.48 : 1|
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