The San Carlos Real Estate Week in Review: 12/5/2016.

The inventory of single-family homes for sale in San Carlos continued its plummet this week as sellers appear to be clearing out of the market for the holidays. As of this morning, there are only 6 single family homes and 3 condos for sale in the entire city. If this isn't the lowest inventory level of 2016, it has to be close.

List prices continue to come under pressure, as the real estate market continues to level off and more buyers are able to negotiate better deals. Of the nine homes that close escrow this week, only 3 were able to command any sort of premium over their list price. The remaining six either sold at the list price or had to take a significant price reduction to get into contract. This is in stark contrast to the real estate market that we have been accustomed to for the past 5 years. But more and more of the experts are starting to agree that the peak of the real estate market may be in our rear view mirror. The performance of the market in the first quarter of 2017 will be a critical indicator in this regard, because if the flattening trend continues, history will show that late 2015-early 2016 was indeed the peak of the latest market bull run.

Here is a look at last week's numbers:

The Numbers.

Below is a high-level view of the market performance for single-family residences (SFR) in San Carlos. This data is for the 7-day period ending Sunday 12/4/2016:

San Carlos SFR Data	12/5/16	Prior Week
Closed Sales for the Week:	9	4
Average Sold Price:	$2,515,876	$1,883,884
Average % List Price:	102%	114%
Average DOM of Closed Sales	12	18
Average $/Sq Foot (Sold)	$1,100	$929
No. of New Listings:	2	2
Total # of Active Listings:	6	10
Average Price of Active Listings:	$2,146,167	$2,364,200
Average DOM of Active Listings:	25	32
Average $/Sq Foot (List)	$1,055	$882
Total # of Homes Pending Sale:	22	27
Active-Pending Ratio:	0.27 : 1	0.37 : 1

The San Carlos Open House Page.

If you're looking at open houses this weekend in San Carlos, check out the San Carlos Open House List. With one click on the Open House sign below, you'll get a “live” list of all the homes and condos that will be open this weekend in San Carlos! It's updated continuously from the MLS, so bookmark this link and you'll never have to wander around town looking for open houses again.

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San Carlos Single-Family Residences Sold:

Below is a list of the single-family home contracts that closed escrow this past week in San Carlos. Click on the address of each to see the complete details.

Address	Sold Price	Orig. List	Difference	DOM (days)
806 Alameda de las Pulgas	$9,800,000	$9,800,000	$0 (0%)	18
477 Emerald Avenue	$2,225,000	$2,398,000	-$173,000(-7.2%)	14
830 Crestview Drive	$1,900,000	$1,998,000	-$98,000(-4.9%)	9
3101 Melendy Drive	$1,788,888	$1,788,888	$0 (0%)	16
232 Beverly Drive	$1,740,000	$1,698,000	+$42,000 (+2.5%)	11
2047 Arroyo Avenue	$1,700,000	$1,449,950	+$250,050 (+17.2%)	3
1079 Hewitt Drive	$1,559,000	$1,468,000	+$91,000 (+6.2%)	12
1983 Brittan Avenue	$1,050,000	$1,050,000	$0 (0%)	18
1011 Hall Street	$880,000	$880,000	$0 (0%)	7

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San Carlos Single-Family Homes Pending Sale:

The following single-family homes went into contract in San Carlos this past week. Click on the address of each home to see more details and photos:

Address	DOM (days)	List Price
221 Coronado Avenue	56	$2,000,000
3313 Melendy Drive	59	$1,895,000
138 Queens Court	15	$4,095,000
25 Sunnydale Avenue	27	$1,799,000

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New Single-Family Home Listings in San Carlos:

Below are the new listings that hit the market this past week in San Carlos. Click on the address of each home to see more details and photos.

Address	List Price	BR/BA	Sq Ft (home/lot)	Listed By
1348 Cedar Street	$2,100,000	2BR/1BA	960/960	Robert Pedro, Signature Realty
607 Dartmouth Avenue	$1,595,000	3BR/2.5BA	1,780/8,7650	Christine Morgan, RE/MAX

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