The month of May started with a bang, as a whole crop of new listings debuted on Thursday and Friday of last week. You almost needed a scorecard to keep track of all of the homes that popped up on those two days (by San Carlos standards, anyway.) But even with that significant push of new inventory, there are still only 13 single family homes for sale in the entire city.
If you thought there was going to be a break in the ferocity of the overbidding on homes in San Carlos, think again. For the homes that closed escrow this past week, the average amount that was paid over the list price was 13%. The leader of the pack from a sheer dollar perspective was the home at 124 Normandy Court, which fetched a premium of $552,000 above the asking price – almost as breathtaking as the view from the house. And from the intelligence I gathered on the pending sales that occurred last week, that trend will certainly continue. Stay tuned..
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 5-3-2014:
|San Carlos Housing Data||5-3-14||Prior Week|
|Closed Sales for the Week:||8||11|
|Average Sold Price:||$1,589,125||$1,460,636|
|Average $/Sq Foot (Sold)||$863||$729|
|Average Percentage Over List Price:||113%||105%|
|Average DOM of Closed Sales||28||28|
|No. of Homes Pending Sale:||27||28|
|No. of Active Listings:||13||11|
|Average Price of Active Listings:||$1,771,914||$1,574,864|
|Average DOM of Active Listings:||11||17|
|Average $/Sq Foot (List)||$704||$733|
|Active-Pending Ratio:||0.48 : 1||0.25 : 1|
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