The June Swoon that we have been experiencing since the beginning of this month continued in earnest last week. Only 3 homes were put into contract, and one of them had been on and off the market for over two months. Granted, there still isn’t a huge inventory being built up while buyers decide what they want to do — only 4 new listings tested the market last week which only offset what went into contract — but there are still some very nice homes on the market that some smart buyers are going snatch up.
For home buyers, this is just about the exact scenario that you’ve been waiting for all year — less buying pressure, and less competition. Once we get a reasonable bump in inventory, your persistence may pay off for you as we head into the summer months.
Here are the details from last week:
By the Numbers.
Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the week ending 6-21-2015:
|San Carlos Housing Data||6-21-15||Prior Week|
|Closed Sales for the Week:||7||5|
|Average Sold Price:||$1,257,857||$1,736,300|
|Average $/Sq Foot (Sold)||$783||$826|
|Average Sold as Percentage Of List Price:||118%||110%|
|Average DOM of Closed Sales||17||13|
|No. of Homes Pending Sale:||20||24|
|No. of New Listings:||4||5|
|Total # of Active Listings:||11||9|
|Average Price of Active Listings:||$1,846,727||$1,895,556|
|Average DOM of Active Listings:||16||20|
|Average $/Sq Foot (List)||$711||$757|
|Active-Pending Ratio:||0.55 : 1||0.38 : 1|
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