The San Carlos Real Estate Week in Review: 5-25-13.
May 26, 2013
San Carlos Real Estate Summary.
The results of that frenetic surge of sales that happened in mid-April are starting to show up as closed sales. This week, 12 homes closed escrow in San Carlos, and it's interesting to see that percentage above list price that buyers are paying is still hovering around the 7% mark on average. It has been as high as 11% (average) during the peak of the spring market. Obviously, some homes have sold for much higher than that — even this week two homes closed that fetched a 17% premium over their asking price.
Interest rates on most home mortgages inched upward slightly this week, which definitely caught the attention of buyers who are still out there looking for homes. It was only a minor uptick of only 0.125 – 0.250, depending on the loan product, but certainly a trend in the wrong direction for buyers. It will be very interesting to see if this is a pre-cursor of things to come, or simply a minor market correction.
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 5-11-2013:
| San Carlos Housing Data | 5-25-13 | Prior Week |
|---|---|---|
| Closed Sales for the Week: |
12 | 6 |
| Average Sold Price |
$1,300,875 | $1,290,833 |
| Average $/Sq Foot (Sold) |
$671 | $708 |
| Sold Price vs Orig List (%) | 107% | 107% |
| Average DOM of Closed Sales | 12 | 8 |
| No. of Homes Pending Sale: | 32 | 37 |
| Inventory of Active Listings: |
19 | 19 |
| Average Price of Active Listings: | $1,268,407 | $1,261,091 |
| Average DOM of Active Listings: | 28 | 24 |
| Average $/Sq Foot (List) | $612 | $625 |
| Active-Pending Ratio: |
0.59 : 1 | 0.51 : 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 |
|---|---|---|---|---|
| 1728 Elizabeth Street | $1,849,000 | $1,849,000 | $0 (0%) |
4 |
| 108 Dundee Lane | $1,757,000 | $1,495,000 | +$262,000 (+17.5%) |
11 |
| 370 Hill Way | $1,750,000 | $1,495,000 | +$255,000 (+17.1%) |
7 |
| 57 Chilton Avenue | $1,340,000 | $1,149,000 | +$191,000 (+16.6%) |
21 |
| 120 Rogers Avenue | $1,329,000 | $1,329,000 | $0 (0%) |
19 |
| 1345 Oakhurst Avenue | $1,355,000 | $1,199,000 | +$156,000 (+13.0%) |
6 |
| 431 De Anza Avenue | $1,300,000 | $1,369,000 | -$69,000 (+5.0%) |
18 |
| 1919 Howard Avenue | $1,232,000 | $1,149,000 | +$83,000 (+7.2%) |
6 |
| 434 Emerald Avenue | $1,016,500 | $975,000 | +$41,500 (+4.3%) |
0 |
| 130 Barford Avenue | $995,000 | $1,098,000 | -$103,000 (-9.4%) |
14 |
| 1023 Inverness Drive | $917,000 | $795,000 | +$122,000 (+15.3%) |
14 |
| 1004 Sylvan Drive | $770,000 | $750,000 | +$20,000 (+2.7%) |
23 |
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 to see more details:
| Address | DOM (days) | List Price |
|---|---|---|
| 85 Wessex Way | 12 | $1,399,000 |
| 248 Devonshire Boulevard | 7 | $1,099,000 |
| 226 Sycamore Street |
7 | $1,185,000 |
| 2763 San Carlos Avenue | 15 | $950,000 |
| 19 Willow Glen Way |
8 | $929,000 |
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 |
|---|---|---|---|---|
| 108 Aster Road | $1,478,000 | 3BR/3BA | 1,990/5,900 | Greg Garcia, Sequoia Realty |
| 184 Wilshire Court | $1,269,000 | 3BR/3BA | 2,440/8,000 | Nicole Aron, Alain Pinel Realtors |
| 142 Exbourne Avenue | $989,000 | 3BR/3BA | 1,620/7,150 | John Lee, Pacific Union |
| 903 Hall Street | $970,000 | 3BR/2.5BA | 1,760/7,446 | Travis Jackson, Century 21 |
| 1308 Rosewood Avenue | $899,000 | 2BR/2BA | 1,280/4,920 | Justine Ford, Today Sothebys |
| 438 De Anza Avenue | $899,000 | 3BR/3BA | 1,520/4,950 | Mike Hirner, 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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