The San Carlos Real Estate Week in Review: 7-28-12.
July 30, 2012
San Carlos Real Estate Summary.
For the first time in quite a few weeks, the number of active listings is slightly higher than the number of pending sales (32 vs 30.) This is more in line with a balanced real estate market — a ratio of 2 to 3 is more what you'd expect to see in a normal year. We've been below 1 for much of 2012, as you've probably noticed in the table below.
The summer effect was definitely felt last week, and we're getting ready to enter what is traditionally one of the slowest months in the real estate year. Demand should continue to push home sales — it's just a question of how many new listings will feed that demand.
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 7-28-2012:
| San Carlos Housing Data | 7-28-12 | Prior Week |
|---|---|---|
| Closed Sales for the Week: |
8 | 5 |
| Average Sold Price |
$1,104,500 | $1,014,000 (+8.9%) |
| Average $/Sq Foot (Sold) |
$594 | $506 |
| Sold Price vs Orig List (%) | 101% | 101% |
| Average DOM of Closed Sales | 19 | 20 |
| No. of Homes Pending Sale: | 30 | 33 |
| Inventory of Active Listings: |
32 | 35 (-8.6%) |
| Average Price of Active Listings: | $1,337,101 | $1,365,991 |
| Average DOM of Active Listings: | 46 | 43 |
| Average $/Sq Foot (List) | $581 | $556 |
| Active-Pending Ratio: |
1.1 : 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 |
|---|---|---|---|---|
| 1050 Drake Court |
$1,500,000 | $1,500,000 | +$0 (+0%) |
0 |
| 165 Exeter Avenue |
$1,400,000 | $1,449,950 | -$49,950 (-3.4%) |
21 |
| 240 Windsor Drive |
$1,125,000 | $1,100,000 | +$25,000 (+2.3%) |
5 |
| 9 Robin Way |
$1,034,000 | $1,097,000 | -$63,000 (-5.7%) |
32 |
| 1392 Oakhurst Avenue |
$1,020,000 | $988,000 | +$32,000 (+3.2%) |
2 |
| 2063 Arroyo Avenue |
$950,000 | $800,000 | +$150,000 (+18.8%) |
10 |
| 118 Oakview Drive |
$907,000 | $879,000 | +$28,000 (+3.2%) |
9 |
| 233 Club Drive |
$900,000 | $929,000 | -$29,000 (-3.1%) |
69 |
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 |
|---|---|---|
| 159 Mesa Verde Way |
31 | $1,698,000 |
| 2388 Brittan Avenue |
9 | $759,000 |
| 206 Devonshire Boulevard |
6 | $1,595,000 |
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 |
|---|---|---|---|---|
| 40 Trillium Lane | $2,888,882 | 4BR/4.5BA | 4,982/43,000 | Donna Marie Baldwin, Coldwell Banker |
| 26 Stanford Lane | $1,178,000 | 4BR/2BA | 2,060/4,400 | Alex Lehr, Lehr Realty |
| 177 Exbourne Avenue | $947,500 | 3BR/2.5BA | 1,560/6,250 | Carrie Du Bois, Coldwell Banker |
| 1407 Cedar Street | $835,000 | 3BR/2BA | 1,360/4,680 | David Young, Coldwell Banker |
| 436 Prospect Street | $789,000 | 3BR/2BA | 1,200/6,950 | Michael Johnston, Alain Pinel Realtors |
Note: The listing data provided above is strictly for informational purposes only, and should not imply that the author is the listing agent.
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Posted in:
Chuck, we just noticed yet another home in our neighborhood that, after not selling for the past few weeks, has raised their price $76,000. No improvements have been made, in fact, this house is really a teardown.
I believe it was priced with the expectation of multiple offers. They are now asking what they paid for the house when they bought it a few years ago.
What could the realtor and owner possibly think the message that is being sent to the market is??
Michael,
It’s hard to say what the strategy is in a situation like this. The market has certainly strengthened over the past few months, and there have been homes that I thought were over-priced that ultimately had no problem fetching (or exceeding) the asking price. In an inventory-constrained market like this, you never know what you’ll get as a seller.