The San Carlos Real Estate Week in Review: 5/22/10

Inventory Analysis

It was another busy week in the world of San Carlos real estate.   Lots of sales, pendings, and new listings — as you can see below.  But it's evident now that the dust has settled that the buyers once again outpaced the sellers this week, as the inventory of available homes has been taken down a few pegs to 50.  The fact that interest rates have bucked everyone's expectation and have stayed incredibly low certainly isn't hurting the market.   I saw a rate sheet from a major lender this past week that showed their hi-balance conforming loan ($729,000 and below) for 4.875% — zero points.   That should keep the fires stoked under this market for a few more weeks.

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 5/22. The previous week's stats are in parentheses:

Price Range	Active	Pending	Ratio
< $1M	26 (25)	29 (27)	0.9 : 1 (0.9 : 1)
$1M –$1.5M	13 (17)	11 (11)	1.2 : 1 (1.5 : 1)
>$1.5M	11 (11)	3 (4)	3.7 : 1 (2.8 : 1)
Total	50 (53)	43 (42)	1.2 : 1 (1.3 : 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.

1340 Orange Avenue

• Pictured: Sale Price: $2,050,000. Original List Price: $1,950,000. Difference: $100,000 (5.1%) above original list. Sold in 7 days. MLS# 81018075, listed by Mike and Sandy Rostad of Coldwell Banker.

3328 Melendy Drive

• Sale Price: $1,399,950. Original List Price: $1,399,950. Difference: $0 (0%) from original list. Sold in 11 days. MLS# 81017583, listed by Dave Blewett of Intero Real Estate Services.

2803 Eaton Avenue

• Sale Price: $1,050,000. Original List Price: $1,049,000. Difference: $1,000 (0.1%) above original list. Sold in 10 days. MLS# 81015697, listed by Yolanda Barrera of Bayview Residential Brokerage.

2733 Clifford Avenue

• Sale Price: $1,035,000. Original List Price: $1,035,000. Difference: $0 (0%) from original list. Sold in 0 days. MLS# 81021376, listed by John Shroyer of RE/MAX Today.

5 Pepper Lane

• Sale Price: $849,000. Original List Price: $849,000. Difference: $0 (0%) from original list. Sold in 31 days. MLS# 81017124, listed by Berna Davis of Coldwell Banker.

728 Cedar Street

• Sale Price: $790,000. Original List Price: $779,000. Difference: $11,000 (1.4%) above original list. Sold in 7 days. MLS# 81018938, listed by Richard Macario of Alain Pinel Realtors.

1011 Alameda de las Pulgas

• Sale Price: $740,000. Original List Price: $749,900. Difference: $9,900 (1.3%) below original list. Sold in 17 days. MLS# 81015747, listed by Gregory Van Hauser of Taylor Properties.

1962 San Carlos Avenue

• Sale Price: $671,000. Original List Price: $639,900. Difference: $31,100 (4.9%) above original list. Sold in 24 days. MLS# 80952290, listed by Bob Bredel of RE/MAX Today.

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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:

• 950 Elm Street, after 11 days on the market.
• 233 Bayview Drive, after 172 days.
• 898 Orange Avenue, 14 days.
• 852 Cedar Street, 8 days.
• 530 Walnut Street, 23 days.
• 885 Sunset Drive, 85 days.
• 1985 Saint Francis Way, 42 days.
• 188 Winding Way, 54 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.

1322 Eaton Avenue

• Pictured: $869,000 — 3BR/1.5BA, 1,473 sq ft on a 4,850 square foot lot. MLS# 81025235. Listed by Courtney Charney of Alain Pinel Realtors.

27 Pepper Lane

• $849,000 — 3BR/3BA, 1,570 sq ft on a 6,900 square foot lot. MLS# 81024719. Listed by Lisa Susnow of Coldwell Banker.

11 Highland Avenue

• $829,000 — 3BR/2.5BA, 1,720 sq ft on a 3,885 square foot lot. MLS# 81025274. Listed by Liza Vernazza of Coldwell Banker.

343 Manzanita Avenue

• $799,000 — 2BR/1BA, 1,050 sq ft on a 6,850 square foot lot. MLS# 81025199 . Listed by Rebecca Poppe of Fidelity Realty Network of California.

794 Cedar Street

• $749,000 — 2BR/1BA, 930 sq ft on a 5,610 square foot lot. MLS# 81025175. Listed by Deborah Norton of Alain Pinel Realtors.

770 Neal Avenue

• $549,000 — 2BR/1BA, 630 sq ft on a 4,700 square foot lot. MLS# 81024603. Listed by Forest Darrenougue of Forest Realty.

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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.)

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