The San Carlos Week In Review – 2/21/09…

(The “San Carlos Week in Review” is a series is a summary of new listings and home sales in San Carlos for the prior week, and an occasional podcast mixed in to keep things lively.   Between the two, you should get a great idea of what happened last week in San Carlos real estate.)

One thing you probably noticed over the past couple of months is the amount of red ink in the sales summary, which indicates that a home sold below the original list price.  Before the $50 overbid that you'll see below, you'd have to go back over a month to find the last time a single home sold over list price, and that was the one exception.  The balance is still in favor of the buyer…for now.  What's interesting is that we're starting to see the return of multiple offers in isolated incidents — yes, multiple offers.  This is predominantly in the entry-level price range, and it's NOT on every listing.  But it's a good sign that buyers are coming back in the market, and this should have a positive ripple effect on homes in all price levels.

As of today, here's the home inventory summary in San Carlos:

• Active:  57 Homes
• Pending Sale: 20 Homes

These are exactly the same numbers as last week, although not exactly the same homes.    As we discussed in last week's post, this is a very respectable ratio for this economy

Here's the scoop for the week.  Now, you can click on either the address OR the picture to get all the details.   How about that?  🙂

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San Carlos Home Sales

1825 Cedar St:

• (Pictured Above) Sale Price: $1,050,000.  Original List Price: $1,088,000.   Difference: $38,000 (3.5% ) below original list.   DOM: 18 Days total under MLS # 80900125.   Listed by Marc Romer of RE/MAX Today

2673 Thornhill Dr:

• (Pictured Above.) Sale Price: $880,000. Original List Price: $949,900.   Difference: $69,900 (7.4% ) below original list.   DOM: 109 Days total under MLS # 80838076.   Listed by Lana Wong of Alain Pinel Realtors.

208 Timothy Dr:

• Sale Price: $1,150,000. Original List Price: $1,149,950.   Difference: $50 (0% ) above original list.  Do you think there was a big negotiation over that final $50?   I wonder…  DOM: 4 Days total under MLS # 80904111.   Listed by Dennis Pantano of Pantano Properties.

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New Listings in San Carlos

108 Wildwood Ave:

• Pictured Above:  $1,595,000 — 4BR/2.5BA, 3,000 sq ft on a 8,850 square foot lot.    MLS# 80908994, listed by Erika Demma of Coldwell Banker.

23 Vine St:

• $799,000 — 3BR/1BA, 1,190 sq ft on a 5,200 square foot lot.    MLS# 80908512, listed by Lou Carlos of Cashin Company.

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Back on the Market

2704 Brittan Ave:

• Pictured Above:  $948,000 — 3BR/2BA, 1,630 sq ft on a 6,480 square foot lot.    First listed in November '08 under a different brokerage at $1,029,000.  Current MLS# 80908512, now listed by Mike and Sandy Rostad of Coldwell Banker.

3025 Brittan Ave:

• $899,000 — 3BR/3BA, 2,020 sq ft on a 13,175 square foot lot.    Originally went on the market back in August '08 at $1,078,000 under a different brokerage.   According to the comments on MLS, it's a short sale at the current price.    MLS# 80909003, listed by Yoli Hurchanik of Coldwell Banker

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