The San Carlos Real Estate Week In Review – 3/14/09…
March 15, 2009
(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.)
Since I started including the Active versus Pending numbers in the weekly post a couple of weeks ago, several readers asked if I could break those numbers down in a little more detail. I thought that would be a great idea, so that's what I did below.
First, here are the totals from last week:
- Active: 67 Homes (last week: 63)
- Pending Sale: 24 Homes (last week: 19)
- Ratio ~ 2.8:1
And here are those same numbers broken out by price category:
- Homes < $1M — Active:Pending = 30:14, or ~2.1:1
- Homes $1M – $1.5M — Active:Pending = 26:7, 0r~ 3.7:1
- Homes >$1.5M — Active:Pending = 11:3, or ~ 3.7:1
There are some interesting things to gather from these numbers.
- To have 45% of the homes on the market listed below $1M shows the depth of this recession. In a “normal” real estate year in San Carlos, a good percentage of these homes would likely be in the upper bracket, thus spreading the distribution more evenly.
- 58% of the homes in contract are below $1M. As I've stated before on this site, this is the most active segment of buyers — and now the numbers back it up.
- Balance. Although the lower price bracket is dominating the sales, the ratio for the higher priced homes doesn't exceed 4:1. All things considered, the market in San Carlos is moving at all levels.
OK, enough of the science…Here's the scoop on what happened this week. Click on the respective address OR the picture to get all the details.
San Carlos Home Sales
- Sale Price: $1,125,000. Original List Price: $1,850,000. Difference: $725,000 (39%) below original list. DOM: 210 Days total under MLS # 80819712. Listed by Trish Ward of Intero Real Estate Services.
New Listings in San Carlos
- Pictured Above: $1,188,000 — 3BR/2.5BA, 2,470 sq ft on a 4,400 square foot lot. MLS# 80913065, listed by Amy McEwan of Intero Real Estate Services.
- $1,350,000 — 4BR/3BA, 4,100 sq ft on a 19,166 square foot lot. MLS# 80912828, listed by Timothy Auran, Realtor.
- $1,350,000 — 4BR/3BA, 3,250 sq ft on a 34,412 square foot lot. MLS# 80911852, listed by John Geer of Consolidated Investments.
- $1,049,888 — 4BR/2.5BA, 2,400 sq ft on a 5,060 square foot lot. MLS# 80911875, listed by Steve Eldridge of RE/MAX Today.
- $998,000 — 4BR/3BA, 2,260 sq ft on a 6,750 square foot lot. MLS# 80912904, listed by David Young of Coldwell Banker.
- $879000 — 3BR/2BA, 1,160 sq ft on a 6,400 square foot lot. MLS# 80912946, listed by Mike and Sandy Rostad of Coldwell Banker.
- $799,000 — 3BR/2BA, 1,370 sq ft on a 10,044 square foot lot. MLS# 80911794, listed by Joanne Totah of Alain Pinel Realtors.
- $609,000 — 2BR/1BA, 920 sq ft on a 5,250 square foot lot. MLS# 80911908, listed by Debbie Wilhelm of Coldwell Banker.
- $570,000 — 2BR/1BA, 1,150 sq ft on a 5,000 square foot lot. MLS# 80912969, listed by Jennie Peterson of Coldwell Banker.
- $548,000 — 3BR/1BA, 1,020 sq ft on a 5,000 square foot lot. MLS# 80911844, listed by Michael Haywood of Keller Williams. According to the MLS notes, it's a short sale at this price.