The statistics in the San Carlos real estate market are eerily similar this week to where they were last week at this time. The number of new listings was exactly offset by the number of homes that went into contract, thus keeping the number of homes for sale in the city unchanged at 14, which is still an incredibly low number for what is generally the peak period in the Spring real estate market.
Prices on closed home sales remained strong and incredibly resilient, with the average home sale in San Carlos last week hitting a whopping $1.7M. It wasn’t too many years ago that I was commenting on this site about the significance of breaking the magic $1M barrier. Now, it seems like only a matter of time before the average price hits $2M in the City of Good Living.
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 5-17-2015:
|San Carlos Housing Data||5-17-15||Prior Week|
|Closed Sales for the Week:||7||2|
|Average Sold Price:||$1,723,286||$1,757,500|
|Average $/Sq Foot (Sold)||$900||$1,315|
|Average Sold as Percentage Of List Price:||113%||125%|
|Average DOM of Closed Sales||16||10|
|No. of Homes Pending Sale:||26||27|
|No. of New Listings:||6||9|
|Total # of Active Listings:||14||14|
|Average Price of Active Listings:||$1,968,357||$1,661,639|
|Average DOM of Active Listings:||12||9|
|Average $/Sq Foot (List)||$750||$717|
|Active-Pending Ratio:||0.54 : 1||0.52 : 1|
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