The San Carlos Real Estate Week in Review: 3-3-12.
March 4, 2012
San Carlos Real Estate Summary.
As you might expect to see in a strengthening market with tight inventory, prices are starting to inch upward in San Carlos. A significant percentage of the homes that are selling right in San Carlos now are fetching multiple offers, which almost always drives the prices above initial asking price. This week was no different, as the average sold price was 102% of the list price. On top of that, the of the 5 homes that went pending during the week, 4 of them were on the market for 2 weeks or less — usually an indication that there was strong demand for those homes.
This doesn't mean that everything is selling above list like it did back in the peak of 2007, but be prepared for the possibility that if there's a place that catches your eye, it has probably caught a few others too. Here are the numbers for the week:
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 3-3-2012:
| San Carlos Housing Data | 3-3-12 | Prior Week |
|---|---|---|
| Closed Sales for the Week: |
9 | 4 |
| Average Sold Price |
$998,111 | $793,750 (+26%) |
| Average $/Sq Foot |
$555 | $590 |
| Sold Price vs Orig List (%) | 102% | 97% |
| Average DOM of Closed Sales | 28 | 13 |
| Inventory of Active Listings: |
25 | 25 (0%) |
| Average Price of Active Listings: | $1,127,082 | $986,159 (+14.2%) |
| Average DOM of Active Listings: | 77 | 77 |
| No. of Homes Pending Sale: | 38 | 40 |
| Active-Pending Ratio: |
0.6 : 1 | 0.6 : 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 |
|---|---|---|---|---|
| 338 Hill Way | $1,300,000 | $1,349,000 | -$49,000 (-3.6%) |
60 |
| 2760 Debbie Court | $1,281,000 | $1,099,000 | $182,000 (+16.6%) |
14 |
| 93 Hilltop Drive |
$1,057,000 | $1,049,000 | +$8,000 (+0.8%) |
7 |
| 173 Cedar Street | $1,040,000 | $1,035,000 | +$5,000 (+0.5%) |
8 |
| 1425 Belmont Avenue | $1,035,000 | $965,000 | $70,000 (+7.3%) |
6 |
| 52 Roslyn Avenue | $885,000 | $845,000 | +$20,000 (+2.3) |
6 |
| 2728 Brittan Avenue |
$860,000 | $875,000 | -$15,000 (-1.7%) |
8 |
| 1189 Elm Street | $810,000 | $829,000 | -$19,000 (-2.3%) |
116 |
| 1334 Cordilleras Avenue |
$715,000 | $765,000 | -$50,000 (-6.5%) |
23 |
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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 |
|---|---|---|
| 1257 Magnolia Avenue |
112 | $795,000 |
| 9 Robin Way |
12 | $797,000 |
| 1052 Cherry Street |
6 | $565,000 |
| 664 Chestnut Street |
7 | $850,000 |
| 1195 Elm Street |
14 | $625,000 |
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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 |
|---|---|---|---|---|
| 1 Lewis Ranch Road | $2,750,000 | 6BR/6.5BA | 5,640/37,840 | Elyse Barca, Alain Pinel Realtor |
| 1 Maple Way | $895,000 | 3BR/2.5BA | 1,640/5,100 | Tom Neel, Coldwell Banker |
| 850 Orange Avenue | $629,000 | 2BR/1BA | 1,040/5,500 | John Herrmann, Today Sothebys |
| 24 Winding Way | $625,000 | 2BR/2BA | 1,336/7,684 | Kathryn Bedbury, Coldwell Banker |
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