As predicted, May is steaming ahead at full speed in the San Carlos real estate market. Many of the sales that went pending in the final weeks of May closed this past week, and your jaw will probably drop when you look at the premiums that some of these homes fetched in Sold section below. If you’re serious about buying a home in San Carlos, you’ve got to be prepared to roll your sleeves and get aggressive.
Another interesting datapoint is that the new homes within the high-density housing complex at Mirabel Place in San Carlos are literally selling before they hit the market. The first two units closed this week, and the next two that came up for sale were already snatched up before they ever saw the market.
Finally, with the late push of new listings, the inventory of homes for sale in San Carlos broke the 20 mark — a high point we have not seen in many months. Because of this push, there are now more homes for sale than there are pending sale, which is something that has probably not happened this entire year. Finally, there is perhaps a glimpse of good news for buyers in this extremely tight market?
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 5-10-2014:
|San Carlos Housing Data||5-10-14||Prior Week|
|Closed Sales for the Week:||14||8|
|Average Sold Price:||$1,378,271||$1,589,125|
|Average $/Sq Foot (Sold)||$768||$863|
|Average Percentage Over List Price:||115%||113%|
|Average DOM of Closed Sales||10||28|
|No. of Homes Pending Sale:||18||27|
|No. of Active Listings:||20||13|
|Average Price of Active Listings:||$1,644,844||$1,771,914|
|Average DOM of Active Listings:||10||11|
|Average $/Sq Foot (List)||$756||$704|
|Active-Pending Ratio:||1.1 : 1||0.48 : 1|
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