The San Carlos Real Estate Week in Review: 3-24-12.

San Carlos Real Estate Summary.

The numbers are simply mind-boggling for buyers looking to find a home in San Carlos.   22 active listings is an abnormally low number for any time of the year, but it's unprecedented for the end of March.  And when you compare that to the 55 homes that are currently pending sale, the ratio of active to pending plummets to 0.4!   There are 2.5 times more homes pending sale than for sale in San Carlos right now.   As a point of reference, most communities never see a ratio below 1, and are frankly thrilled if they can get it down below 3.

If that's not daunting enough, the average days on the market for homes that went pending this past week was 26, which is a reasonable number.  But if you take out just one home that took 185 days to sell, that average number drops to 12 days for the other 11 sales.   That means on average, you have less than 2 weeks to decide on a new listing once it hits the market.   In reality, you have less than a week, if you factor in the time it takes to prepare the offer.   Tough sledding for buyers these days, but it underscores the preparation and focus that's required to be in this market right now.

Here are the numbers for this past 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 3-24-2012:

San Carlos Housing Data	3-24-12	Prior Week
Closed Sales for the Week:	2	6
Average Sold Price	$965,000	$1,384,167 (-30%)
Average $/Sq Foot	$411	$588
Sold Price vs Orig List (%)	99%	101%
Average DOM of Closed Sales	152	55
No. of Homes Pending Sale:	55	43
Inventory of Active Listings:	22	30 (-27%)
Average Price of Active Listings:	$1,356,630	$1,317,379 (+3%)
Average DOM of Active Listings:	41	37
Active-Pending Ratio:	0.4 : 1	0.7 : 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
1079 Sunset Drive	$990,000	$999,950	-$9,950 (-1.0%)	304
46 Elston Court	$940,000	$949,000	-$9,000 (-0.9%)	0

(Click the “Homes Sold” sign below see all of the homes that have sold in San Carlos in the past 3 months.)

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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
15 Pine Avenue	30	$739,000
228 Queens Court	14	$2,645,000
628 Alameda	6	$825,000
37 Chilton Avenue	7	$949,000
1439 Cordilleras Avenue	185	$839,000
44 Plymouth Avenue	11	$689,000
2015 San Carlos Avenue	13	$699,000
441 Emerald Avenue	6	$969,000
153 Fairbanks Avenue	7	$825,000
1 Maple Way	19	$895,000
1338 Pebble Drive	7	$1,669,000
917 Bauer Drive	12	$995,500

(Click the “Homes Pending Sale” sign 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
440 Erlin Drive	$1,195,000	4BR/3.5BA	2,730/11,100	jerry Girouard, Girouard Properties
1030 Crestview Drive	$1,069,000	4BR/2BA	2,450/7,571	Justine Ford, Today Sothebys
1920 Belmont Avenue	$799,997	3BR/1BA	1,280/5,170	Donna Marie Baldwin, Coldwell Banker
29 Upland Avenue	$749,000	3BR/2BA	1,430/6,150	Lisa Susnow, Coldwell Banker
1532 Greenwood Avenue	$699,000	2BR/1BA	920/5,000	Matlock/Christie, Coldwell Banker

(Click the “Homes For Sale” sign below to see ALL of the homes currently for Sale in San Carlos.)

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Condos and Townhomes Sold in San Carlos:

Below are the condos/townhouses that sold this past week. Click on the address for all of the details:

Address	Sold Price	Orig. List	Difference	DOM
633 Elm Street #414	$528,000	$535,000	-$7,000 (-1.3%)	1
3347 Brittan Avenue #10	$450,000	$429,000	+$21,000 (+4.9%)	7
3319 La Mesa Drive #7	$412,000	$398,000	+$13,000 (+3.3%)	10

(Click the “Condos Sold” button below to see all of the condos and townhomes that have recently sold in San Carlos)

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Condo/Townhouse Pending Sales in San Carlos

The following condos/townhouses are now pending sale:

Address	DOM (days)
3295 La Mesa Drive #3	15
3336 Brittan Avenue #8	19
3362 La Mesa Drive #1	8

(Click the “Condos Pending Sale” button below to see all of the condos and townhomes that are pending sale in San Carlos)

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New Condo/Townhouse Listings in San Carlos:

The following condo/townhouses listed this past week. Click on the address or MLS # or all the details:

Address	List Price	BR/BA	Sq Feet	Listed By
3379 Brittan Avenue #6	$426,000	2BR/2BA	1,040	Anna DuPont, Today Sothebys
3358 La Mesa Drive #3	$399,000	2BR/2BA	1,040	Michael Horwitz, Better Homes

(Click the “Condos for Sale” button below to see all of the condos and townhomes that are currently for sale in San Carlos)

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What's Open This Weekend?

Click the “Open House” sign below to see ALL of the homes and condos scheduled to be open this weekend in San Carlos.

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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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