The San Carlos Real Estate Week in Review: 8-27-11.

San Carlos Real Estate Summary.

It has been a frustrating couple of weeks for home buyers in San Carlos.  Inventory levels have been slowly dropping over the summer, and it really seemed to hit a low this past week.   For most of the week, there were more homes in contract (pending sale) than there were active listings.   That doesn't happen very often.   To look at it in a different way, during the past week there were more homes for sale in Belmont than there were in San Carlos (now San Carlos has 1 more on the market.)   Even the tiny, tony town of Woodside has a larger inventory (54) than does San Carlos (45).  But we're only a week from Labor Day, which marks the beginning of the traditional fall market, so I expect there will be an uptick in listings in the next week or so.   (Stay tuned to the site for a announcement to this effect later in the week.)

Here's a quick snapshot of the inventory of San Carlos single family homes as of 8-27-2011:

Inventory	8-27-11	Prior Week
Active Listings	45	47 (-4.3%)
Average Price of Active Listings	$1,000,946	$1,017,234 (-1.6%)
Average DOM of Active Listings	76	73
No. of Homes Pending Sale	44	45 (-2.2%)
Ratio of Active:Pending	1.0 : 1	1.0 : 1

The San Carlos Open House Page.

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.

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
1385 Cedar Street	$1,370,000	$1,395,000	-$25,000 (-1.8%)	1
700 Knoll Drive	$1,170,000	$1,245,000	-$75,000 (-6.0%)	215
22 Primrose Lane	$875,000	$949,000	-$74,000 (-7.8%)	29
286 Chestnut Street	$775,100	$775,900	-74,250 (-0.1%)	23
80 Hilltop Drive	$750,750	$825,000	-74,250 (-9.0%)	43
885 Sunset Drive	$720,000	$999,999	-$279,999 (-28%)	414

— Here are some key statistics on the sales that closed this week:

Closed Sales Stats	8-27-11	Prior Week
# Closed Sales	6	4
# of Sales Below List (% of total)	6 (100%)	0 (0%)
SP/Orig List %	91.5%	103%
Average DOM of Closed Sales	121	6

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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
1365 Elm Street	13	$1,595,000
204 Devonshire Boulevard	73	$1,499,000
1472 Cordilleras Avenue	7	$979,000
260 Fir Street	31	$679,000
1100 Cedar Street	9	$649,000

(Click the “Homes Pending Sale” button below to see ALL the homes that are Pending Sale in San Carlos.)

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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
14 Estates Court	$1,125,000	4BR/2BA	2,320/12,240	Carrie Du Bois, Coldwell Banker
1492 Walnut Street	$979,000	4BR/1.5BA	1,790/6,000	Steve Ehlers, Today Sothebys
309 Emerald Avenue	$968,000	3BR/2BA	1,630/6,270	Janet Davis, Hometown Realty
9 Cambridge Avenue	$929,000	3BR/2BA	1,450/4,095	Vincent Armando, Armando Investment

 

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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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