The San Carlos Real Estate Week in Review: 3-2-13.
March 3, 2013
San Carlos Real Estate Summary.
The good news is that the inventory of homes for sale in San Carlos rose by a whopping 63% this past week. That bad news is that we only started off with 8 listings at the beginning of the week. So the end result is that there's still not nearly enough homes to choose from in San Carlos. What's interesting from the numbers this week is that we're starting to see firm evidence of the abrupt increase in home prices in San Carlos. There are two metrics this week that vividly demonstrate this: The price per square foot jumped to a whopping $669/sq foot for homes that closed escrow this week, and they also fetched 11% above the asking price, on average. I believe we'll continue to see much more of this type of performance in the coming weeks.
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 3-2-2013:
| San Carlos Housing Data | 3-2-13 | Prior Week |
|---|---|---|
| Closed Sales for the Week: |
4 | 2 |
| Average Sold Price |
$1,312,839 | $937,500 (+40%) |
| Average $/Sq Foot (Sold) |
$669 | $475 |
| Sold Price vs Orig List (%) | 111% | 101% |
| Average DOM of Closed Sales | 9 | 25 |
| No. of Homes Pending Sale: | 24 | 25 |
| Inventory of Active Listings: |
13 | 8 (+63%) |
| Average Price of Active Listings: | $1,475,676 | $1,528,299 |
| Average DOM of Active Listings: | 25 | 22 |
| Average $/Sq Foot (List) | $626 | $596 |
| Active-Pending Ratio: |
0.54 : 1 | 0.32 : 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 |
|---|---|---|---|---|
| 1400 Eaton Avenue |
$1,425,000 | $1,325,000 | +$100,000 (+7.5%) |
7 |
| 2096 Birch Avenue |
$1,375,000 | $1,285,000 | +$90,000 (+7.0%) |
6 |
| 1364 Crestview Drive |
$1,350,000 | $1,188,888 | +$161,112 (+13.6%) |
11 |
| 1355 Central Avenue |
$1,101,355 | $950,000 | +$151,355 (+15.9%) |
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 |
|---|---|---|
| 8 Sudan Lane | 27 | $2,495,000 |
| 990 McCue Avenue | 8 | $699,000 |
| 2555 Eaton Avenue | 15 | $1,479,500 |
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 |
|---|---|---|---|---|
| 28 Oak Creek Lane | $2,950,000 | 4BR/4BA | 3,880/11,674 | James Shin, Intero |
| 201 Alberta Avenue | $1,649,000 | 4BR/3BA | 2,850/6,555 | Stephen Hicks, Gateway Properties |
| 218 Manor Drive | $1,295,000 | 3BR/3BA | 2,010/5,500 | Jim Spirakis, Keller Williams |
| 999 Orange Avenue | $1,179,000 | 3BR/2BA | 1,780/5,500 | Justine Ford, Today Sothebys |
| 239 Ruby Avenue | $1,050,000 | 3BR/2BA | 1,520/4,400 | Norine Higgins, Today Sothebys |
| 328 De Anza Avenue | $1,034,900 | 4BR/3BA | 2,170/5,900 | Jessica Eva, Today Sothebys |
| 2663 Thornhill Drive | $775,000 | 2BR/1BA | 1,120/5,650 | Louis Trujillo, Heaven ‘N Earth Realty |
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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