The San Carlos Real Estate Week in Review: 3-12-11.
March 13, 2011
Summary.
It was another good showing for new issues this week, with 8 new listings to choose from. And buyers seem to be responding positively, as new open houses are reporting huge turnouts. 8 homes went into contract, thus keeping the overall inventory almost unchanged from the prior week. And multiple offers are becoming more commonplace as more buyers are competing in this inventory-constrained environment.
Open House?
If you're looking at open houses this weekend in San Carlos here's the only link you'll need: The San Carlos Open House Page. With one click, 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.
Here's a quick snapshot of the inventory of San Carlos single family homes as of 3-12-2011:
Inventory | 3-12-11 | Prior Week |
---|---|---|
Active Listings | 54 | 53 (+2%) |
Average DOM of Active Listings | 81 | 81 |
Homes in Contract | 36 | 32 (+13%) |
Ratio Active/Pending | 1.5 : 1 | 1.7 : 1 |
Single-Family Homes Sold in San Carlos:
Below is a list of the single-family homes that sold this past week in San Carlos. Click on the address of each to see the complete details.
Address | Sold Price | Orig. List | Difference | DOM |
---|---|---|---|---|
1541 Morse Avenue | $1,525,000 | $1,490,000 | +$35,000 (+2%) | 0 |
1933 Eaton Avenue | $1,125,000 | $1,150,000 | -$25,000 (-2%) | 84 |
1516 Saint Francis Way |
$950,000 | $949,000 | +$1,000 (+0.1%) | 9 |
125 Belvedere Avenue |
$925,000 | $979,000 | -$54,000 (-6%) | 78 |
— Here are some key statistics on the sales that closed this week:
Closed Sales Stats | 3-12-11 | Prior Week |
---|---|---|
# Closed Sales | 4 | 8 |
# Sales Below List (% total) | 2 (50%) | 6 (75%) |
SP/Orig List % | 99% | 96% |
Average DOM of Closed Sales | 43 | 49 |
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Single-Family Homes Pending Sale in San Carlos:
The following homes went “Pending Sale” this week. Click on the address of each for additional info:
Address | DOM (days) | List Price |
---|---|---|
113 Plymouth Avenue |
11 | $1,049,000 |
1340 Alameda de las Pulgas |
135 | $699,000 |
2641 Thornhill Drive | 136 | $829,000 |
887 Heather Drive |
11 | $979,000 |
28 Exeter Avenue | 14 | $849,000 |
1362 Chestnut Street |
9 | $929,000 |
90 Kenton Avenue |
38 | $749,000 |
50 Arundel Road |
139 | $899,000 |
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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. Simply click on the address of each home to get the complete details.
Address | List Price | BR/BA | Sq Ft (home/lot) | Listed By |
---|---|---|---|---|
249 Highland Avenue |
$1,689,000 | 3BR/3BA | 3,100/6,344 | Marie Delucchi, Today Sothebys |
55 Hartford Avenue |
$1,278,888 | 3BR/3BA | 2,480/17,000 | Lorelei Keim, Coldwell Banker |
1029 Elm Street |
$1,238,888 | 3BR/2BA | 1,986/6,000 | Lorelei Keim, Coldwell Banker |
1500 Eaton Avenue | $1,189,000 | 4BR/3BA | 2,310/6,780 | Justine Ford, Today Sothebys |
115 De Anza Avenue | $919,000 | 3BR/2BA | 1,240/5,700 | Val Vandervort, Coldwell Banker |
948 Rosewood Avenue |
$929,000 | 2BR/2BA | 1,970/6,000 | Bob Bredel, Today Sothebys |
15 Del Rey Court |
$864,950 | 3BR/2BA | 1,700/6,000 | Maxine Dumas, Dumas & Company |
416 Winding Way | $650,000 | 3BR/2BA | 1,400/5,400 | Sherry Bakhtiari, Investment Realty Center |
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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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Posted in:
I find that Zillow, at least in the bay area, has values so flawed that they make no sense. Whatever their algorithmic system is, they aren’t even close.
Perfect example, 1541 Morse closes at $1,525.000 and is valued at $1,068,500. I realize the margin of error, but how could it be so off? Even at 0 days on the market, the zillow value should be closer to $1.4, shouldn’t it?
Michael,
I have to agree with your assessment on Zillow. I normally don’t use the site, but I spent a few minutes on it yesterday. First thing I noticed is that a whole bunch of homes that are supposedly “for sale” aren’t at all. They had either sold a long time ago, or simply weren’t on the market. And Zillow allows users to change specs on the house and to input their own valuations.
On top of all that, home values in San Carlos vary widely from neighborhood to neighborhood, even by street. A house on Morse is going to cost more than if it were on a different street. There’s no way Zillow (or any other automated tool) can make that differentiation.