Goodbye, October — hello, November! We are entering the final third of the fall real estate market and pace has already slowed somewhat in San Carlos, as only two new listings made their debut on the MLS last week, and just 4 of the homes in the existing inventory went into contract. Both of those metrics are down significantly from the pace that has been set so far, during what has been a very robust fall real estate market.
The net result of this week’s activity was to bring the inventory down to just 14 homes for sale in the entire city. This is relatively good news for those sellers who are still hoping to get their homes in contract before we hit the Thanksgiving holiday week — which, by the way, is in just 3 weeks. Conversely, this has to be discouraging to home buyers who are hoping to get a home in contract soon, and be moved in for the holidays.
On top of all that, the time change this past weekend will make it more challenging to show homes this time of year since it will now be dark in the early evenings. That means if you want to see a home while there is still some daylight, you’ll either have to sneak out during work hours, or wait until the weekend to get your first peek.
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 11-1-2014:
|San Carlos Housing Data||11-1-14||Prior Week|
|Closed Sales for the Week:||5||8|
|Average Sold Price:||$1,460,000||$1,505,486|
|Average $/Sq Foot (Sold)||$780||$881|
|Average Sold – Percentage Of List Price:||104%||106%|
|Average DOM of Closed Sales||29||8|
|No. of Homes Pending Sale:||21||21|
|No. of Active Listings:||14||17|
|Average Price of Active Listings:||$1,529,190||$1,529,575|
|Average DOM of Active Listings:||40||35|
|Average $/Sq Foot (List)||$735||$706|
|Active-Pending Ratio:||0.67 : 1||0.81: 1|
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