The first real wave of housing inventory in the fall market hit San Carlos last week. Nine new listings debuted in the city, which is a nice jump-start from the first few weeks of August when the market was predictably sluggish. Five homes were put into contract, most notably two of the remaining units at Mirabel Place. If you’re looking for an gauge on whether new, high-density housing will be well received by the buying public, the development at Mirabel Place should be considered a resounding success. Of the six units that have either sold or are in contract, the average days on market is 3. They were literally either selling before they ever hit the market, or getting snapped up as soon as they hit the MLS.
Look for the pace of new listings to pick up in the coming weeks. The kids are all back to school this week, minus the UC system and perhaps a few private schools. The fall market is officially underway in San Carlos!
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 8-23-2014:
|San Carlos Housing Data||8-23-14||Prior Week|
|Closed Sales for the Week:||4||4|
|Average Sold Price:||$1,322,250||$1,432,500|
|Average $/Sq Foot (Sold)||$728||$654|
|Average Percentage Over List Price:||105%||105%|
|Average DOM of Closed Sales||21||17|
|No. of Homes Pending Sale:||23||22|
|No. of Active Listings:||20||17|
|Average Price of Active Listings:||$1,481,112||$1,581,693|
|Average DOM of Active Listings:||19||21|
|Average $/Sq Foot (List)||$758||$745|
|Active-Pending Ratio:||0.87 : 1||0.77 : 1|
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