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

March 25, 2012

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%)
46 Elston Court
$940,000 $949,000 -$9,000 (-0.9%)


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


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


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