The Peninsula real estate market is definitely back in full swing, even though we are still in January. Open houses were absolutely packed this weekend, as buyers looked to get a jumpstart on the rest of the home buyers that are planning to buy this year. 4 homes in San Carlos went into contract this past week, with none of them lasting on the market much longer than 2 weeks — and at least one of these 4 homes garnered quite a few offers.
Not all is rosy in the Silicon Valley job market, which plays such a big factor in the housing demand on the Peninsula. eBay announced that they are laying off 2,400 workers, and Dreamworks is planning on shuttering its operations in the seaport of Redwood City, putting 500 people out of work. But it’s a fair bet that the overall growth of the tech economy still overshadows these missteps. Box in Redwood City went public last week, which should bode well for their 1,100 or so employees that will be occupying those spectacular towers behind Sequoia Station. And let’s not forget that gas prices are low, and the stock market is high — two items that help boost consumer confidence.
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 1-25-2015:
|San Carlos Housing Data||1-25-15||Prior Week|
|Closed Sales for the Week:||4||1|
|Average Sold Price:||$1,358,750||$1,150,000|
|Average $/Sq Foot (Sold)||$860||$1,250|
|Average Sold – Percentage Of List Price:||99%||118%|
|Average DOM of Closed Sales||37||8|
|No. of Homes Pending Sale:||15||16|
|No. of Active Listings:||11||10|
|Average Price of Active Listings:||$1,534,177||$1,659,000|
|Average DOM of Active Listings:||16||15|
|Average $/Sq Foot (List)||$786||$758|
|Active-Pending Ratio:||0.69 : 1||0.63: 1|
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