The San Carlos Real Estate Week in Review: 6-9-12.
June 10, 2012
San Carlos Real Estate Summary.
If you want to capture the essence of the spring real estate market in San Carlos, just look at this week's “Single Family Homes Sold in San Carlos” below: Of the 8 closed escrows, 7 of them closed above their list price, and it took only took an average of 9 days for these homes to sell. That's the definition of a competitive housing market. But these were homes that went into contract about a month ago — what's happening with the market now? Stay tuned this week to the site — the answer may surprise you.
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 6-9-2012:
| San Carlos Housing Data | 6-9-12 | Prior Week |
|---|---|---|
| Closed Sales for the Week: |
8 | 5 |
| Average Sold Price |
$1,034,494 | $1,159,122 (-11%) |
| Average $/Sq Foot (Sold) |
$570 | $515 |
| Sold Price vs Orig List (%) | 105% | 101% |
| Average DOM of Closed Sales | 9 | 31 |
| No. of Homes Pending Sale: | 39 | 45 |
| Inventory of Active Listings: |
31 | 27 (+15%) |
| Average Price of Active Listings: | $1,312,782 | $1,396,187 (-6%) |
| Average DOM of Active Listings: | 32 | 25 |
| Average $/Sq Foot (List) | 579 | 567 |
| Active-Pending Ratio: |
0.8 : 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 |
|---|---|---|---|---|
| 308 Chesham Avenue |
$1,575,000 | $1,550,000 | +$25,000 (+1.6%) |
11 |
| 2879 Roland Avenue | $1,400,000 | $1,368,000 | +$32,000 (+2.3%) |
8 |
| 244 Highland Avenue |
$1,158,000 | $1,049,000 | +$109,000 (+10.4%) |
3 |
| 913 Bauer Drive |
$1,090,000 | $998,000 | +$92,000 (+9.2%) |
6 |
| 140 Pearl Avenue |
$895,000 | $869,000 | +26,000 (+3.0%) |
7 |
| 1532 School Street | $819,949 | $749,000 | +70,949 (+9.5%) |
8 |
| 1009 Walnut Street | $775,000 | $681,800 | +93,200 (+13.7%) |
16 |
| 1426 Cordilleras Avenue |
$563,000 | $649,000 | -$86,000 (-13.3%) |
13 |
Note: The sold data provided above is strictly for informational purposes only, and should not imply that the author was involved in either side of the transaction.
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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 |
|---|---|---|
| 1401 Howard Avenue |
17 | $809,000 |
| 1439 Cedar Street |
13 | $1,450,000 |
| 650 Darmouth Avenue |
12 | $1,248,650 |
| 54 Ensenada Road |
13 | $999,000 |
| 974 Alameda |
21 | $1,195,000 |
| 138 Eaton Villa Place |
6 | $1,625,000 |
Note: The pending data provided above is strictly for informational purposes only, and should not imply that the author was involved in either side of the transaction.
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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 |
|---|---|---|---|---|
| 10 Shratton Avenue | $1,499,000 | 3BR/3BA | 2,610/7,700 | Carlo Guglielmino, Bay Area Estates |
| 165 Exeter Avenue | $1,449,950 | 4BR/3.5BA | 3,996/12,470 | Donna Colangelo, Intero |
| 945 Rosewood Avenue | $1,149,000 | 2BR/2BA | 1,780/6,000 | Bob Bredel, Today Sothebys |
| 240 Windsor Drive | $1,100,000 | 3BR/2.5BA | 2,120/7,600 | Erich Sonnberger, Intero |
| 898 Orange Avenue | $839,900 | 3BR/2BA | 1,240/5,100 | Christina O'Brien, RE/MAX |
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Posted in:
Chuck, Tell me what you think about a home, in this market that hasn’t sold in a month, that goes UP in price. Is this a strategy I’ve missed and how can that work? I won’t mention which house this is, but you probably know.
Michael,
Without knowing what’s going on behind the scenes of that listing, it’s hard to comment on the strategy. Perhaps there were enhancements that were made to the house?
But yes, generally it’s safe to assume that if a house has not sold at a certain price, it’s going to be a challenge for it to sell at an even higher price. Most real estate websites capture the price history of a home so the lower price will always be there for any potential buyer to see.
I know they’ve done nothing since it was listed. Anyone should realize that the pricing history is available to anyone, especially on zillow, so you don’t have to be in the industry to see it.
Seems like a huge disservice to the owners, unless they are the ones who had this dumb idea.
If it sells, it will be interesting to see where the price lands.