The San Carlos Real Estate Week in Review: 2-25-12.

February 26, 2012

San Carlos Real Estate Summary.

If you need any further proof that the demand is red-hot for homes in San Carlos, this past week should have resolved any doubt.  The $2.8M home at 1955 Carmelita Drive sold in just 5 days, reportedly with multiple offers.   And the first open house on Saturday for the beautiful craftsman at 1837 Howard Avenue was absolutely packed.   Buyers are definitely out there in big numbers, and with 8 homes being snapped up this past week, it has been impossible to build up any significant inventory of homes.  As of this post, there are still only 25 homes to choose from in the entire city.

Even the active/pending ratio — which normally sits at about 1.7-2.0 — hit a low of 0.6 this week.  That's the lowest number that I can recall posting in the 4+ years of this blog's existence.

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 2-25-2012:

San Carlos Housing Data 2-25-12 Prior Week
Closed Sales for the Week:
4 3
Average Sold Price
$793,750 $825,000 (-3.8%)
Average $/Sq Foot
$590 $437
Sold Price vs Orig List (%) 97% 89%
Average DOM of Closed Sales 13 113
Inventory of Active Listings:
25 27 (-7.4%)
Average Price of Active Listings: $986,159 $977,222 (+0.9%)
Average DOM of Active Listings: 77 79
No. of Homes Pending Sale: 40 36
Active-Pending Ratio:
0.6 : 1 0.8 : 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 home contracts that closed escrow this past week in San Carlos. Click on the address of each to see the complete details.

Address Sold Price Orig. List Difference DOM
109 Belvedere Avenue
$1,100,000 $1,100,000 $0 (0%)
0
1944 Arroyo Avenue
$855,000 $869,000 -$14,000 (-1.6%)
0
732 Cedar Street $635,000 $690,000 -$55,000 (-8.0%)
17
399 Winding Way
$585,000 $624,500 -$39,500 (-6.3%)
33

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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 any of these homes for additional info:

Address DOM (days) List Price
228 Park Avenue
10 $749,950
353 Clifton Avenue
15 $799,000
1955 Carmelita Drive
5 $2,800,000
1079 Sunset Drive 304 $999,950
958 Holly Street
19 $489,950
154 Fairbanks Avenue
11 $499,000
2825 Tramanto Drive
39 $888,888
2660 Eaton Avenue
12 $810,000

 

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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
1837 Howard Avenue $1,500,000 4BR/3BA 2,680/5,985 Carrie DuBois, Coldwell Banker
325 Clifton Avenue $1,488,841 4BR/3.5BA 3,660/unreported Donna Marie Baldwin, Coldwell Banker
168 Madera Avenue $1,199,000 4BR/3.5BA 2,060/6,534 Bob Bredel, Today Sothebys
664 Chestnut Street $850,000 3BR/3BA 2,920/7,350 Maxine Dumas, Dumas & Company
1064 Lupin Way $739,000 3BR/1BA 1,220/6,300 John Sieling, Today Sothebys
1052 Cherry Street $565,000 2BR/1BA 970/5,000 Tony Gabb, RE/MAX Star Properties

 

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