The San Carlos Real Estate Week in Review: 5/15/10

May 15, 2010

Inventory Analysis

Perception versus Reality. Here's an interesting comment that I heard at least a couple of times this past week:

“It seems like there is a ton of homes for sale right now in San Carlos.”

It's easy to understand how one could come to that conclusion simply by driving around town. If you counted the number of realty signs that are in front of homes right now, you'd come close to topping 100! That's a huge number, and it's easy to see how someone could draw the wrong conclusion that there's a glut of homes for sale, which would obviously favor buyers.

The reality of the situation is that only slightly more than half of these homes are actually still “for sale” — the rest are already sold. But since the real estate signs generally stay up until the home closes escrow, it's understandably difficult to gauge what's what's for sale and what's not. But when you look at the data below, it tells a much different story. Yes, quite a few homes are coming on the market on any given week, but there's an equal number of homes selling — so while there seems to be a proliferation of real estate signs, the number of homes actually “for sale” has not increased. In fact, the 53 active listings we have right now is a below average number for this time of year. Mix in the evidence of aggressive buying and multiple offers, and it's anything but a buyer's market right now.

Open House

Looking at open houses this weekend in San Carlos? This one link is all you need: The San Carlos Open House Page. With one click, you 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.

Here's a snapshot of the San Carlos single family home market, as of 5/15. The previous week's stats are in parentheses:

Price Range	Active	Pending	Ratio
< $1M	25 (29)	27 (21)	0.9 : 1 (1.4 : 1)
$1M –$1.5M	17 (17)	11 (10)	1.5 : 1 (1.7 : 1)
>$1.5M	11 (9)	4 (6)	2.8 : 1 (1.5 : 1)
Total	53 (55)	42 (37)	1.3 : 1 (1.5 : 1)

Single-Family Homes Sold in San Carlos:

Below are the single-family homes that sold this past week in San Carlos. Click on the respective addresses to get all the details.

2033 White Oak Way

Pictured: Sale Price: $2,005,000. Original List Price: $1,850,000. Difference: $155,000 (8.4%) above original list. Sold in 5 days. MLS# 81016894, listed by David Young of Coldwell Banker.

960 McCue Avenue

Sale Price: $662,000. Original List Price: $649,000. Difference: $13,000 (2.0%) above original list. Sold in 4 days. MLS# 81019414, listed by John Marshall of Cashin Company.

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Single-Family Homes Pending Sale in San Carlos:

The following homes went “Pending Sale” this week — click on the address for more info:

2085 Saint Francis Way, after 8 days on the market.
5 Pepper Lane, after 31 days.
436 Clifton Avenue, 22 days.
2667 San Carlos Avenue, 11 days.
1240 Highland Court, 12 days.
1025 Hewitt Drive, 14 days.
2711 Clifford Avenue, 109 days.
119 Oakview Drive, 12 days.

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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. Simply click on the address of each home to get all the details.

213 Wellington Drive

Pictured: $1,985,000 — 4BR/4BA, 2,920 sq ft on a 10,900 square foot lot. MLS# 81023744. Listed by Lynn Campbell of Alain Pinel Realtors.

136 Plymouth Avenue

$1,825,000 — 5BR/4BA, 2,769 sq ft on a 6,133 square foot lot. MLS# 81023788. Listed by Armando Vincent of Armando Investment.

703 Crestview Drive

$1,299,921 — 4BR/2BA, 2,250 sq ft on a 15,520 square foot lot. MLS# 81024103. Listed by Donna Marie Baldwin of Coldwell Banker.

2016 Eaton Avenue

$1,098,000 — 3BR/2.5BA, 2,580 sq ft on a 5,700 square foot lot. MLS# 81024005. Listed by David Young of Coldwell Banker.

852 Cedar Street

$1,029,000 — 3BR/2.5BA, 1,890 sq ft on a 5,500 square foot lot. MLS# 81023386. Listed by Nancy Palmer of Alain Pinel Realtors.

104 Baytree Road

$988,000 — 3BR/2BA, 1,310 sq ft on a 4,800 square foot lot. MLS# 81023930. Listed by Joan Flood of Alain Pinel Realtors.

212 Park Avenue

$769,000 — 2BR/1BA, 1,090 sq ft on a 5,125 square foot lot. MLS# 81022933. Listed by Leila Sisneros of RE/MAX Today.

1223 Alameda de las Pulgas

$749,900 — 2BR/1BA, 890 sq ft on a 6,500 square foot lot. MLS# 81023111. Listed by Helen Almada of RE/MAX Pioneer.

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(The “San Carlos Week in Review” series is a summary of new listings and home sales in San Carlos for the prior week.)