The San Carlos Real Estate Week in Review: 2-23-13.

San Carlos Real Estate Summary.

What started out as an already challenging week for home buyers in San Carlos turned out to be one sheer impossibility as the numbers tilted even more in favor of home sellers.   Over the course of the past seven days, 7 homes went into contract with only 2 new listings to counter-balance the depletion to the inventory.  This resulted in a precipitous drop of 38% in the number of homes for sale in San Carlos, which means we'll start the week off with a grand total of 8 single-family homes for sale in the entire city.

These numbers are unprecedented, and border on being nonsensical.  With a single digit inventory, and an active/pending ratio of 0.32 (2 or above is considered to be normal), and some of the eye-popping prices that homes are fetching, it's enough to put some frustrated buyers back on the sidelines to wait for more favorable conditions.

Here are the numbers from last 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 2-23-2013:

San Carlos Housing Data	2-23-13	Prior Week
Closed Sales for the Week:	2	5
Average Sold Price	$937,500	$1,047,841 (+%)
Average $/Sq Foot (Sold)	$475	$654
Sold Price vs Orig List (%)	101%	111%
Average DOM of Closed Sales	25	10
No. of Homes Pending Sale:	25	23
Inventory of Active Listings:	8	13 (-38%)
Average Price of Active Listings:	$1,528,299	$1,256,953
Average DOM of Active Listings:	22	14
Average $/Sq Foot (List)	$596	$607
Active-Pending Ratio:	0.32 : 1	0.6 : 1

The San Carlos Open House Page.

If you're looking at open houses this weekend in San Carlos, check out the San Carlos Open House List. With one click on the Open House sign below, 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.

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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
407 Wellington Drive	$1,100,000	$975,000	+$125,000 (+12.8%)	3
2435 Eaton Avenue	$775,000	$879,000	-$104,000 (-11.8%)	46

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.

(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
108 Ruby Avenue	10	$899,000
1124 Orange Avenue	11	$1,095,000
1020 Springfield Drive	12	$559,000
539 Hillcrest Avenue	9	$799,000
147 Leslie Drive	14	$1,385,000
1035 Riverton Drive	7	$675,000
1355 Central Avenue	13	$950,000

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.

(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
1030 Sunset Drive	$1,549,000	4BR/3.5BA	2,840/7,497	Phil Waddingham, Intero
990 McCue Avenue	$699,000	2BR/1BA	1,030/5,200	Bryce Cook, Today Sothebys

Note: The listing data provided above is strictly for informational purposes only, and should not imply that the author is the listing agent.

(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
3295 La Mesa Drive #3	$356,000	$299,000	+$57,000 (+19.1%)	11

(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)
633 Elm Street #118	50
3324 Brittan Avenue #6	10
1701 San Carlos Avenue #2	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
3299 La Mesa Drive	$360,000	1BR/1BA	741	Henry Pessah, Real Estate EBroker

(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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(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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