The San Carlos Real Estate Week in Review: 6-15-13.
June 17, 2013
San Carlos Real Estate Summary.
The table was really set for it to be a “statement week” for the real estate market last week in San Carlos. If you recall from the last report, we were slammed with a wave of new listings at the end of the prior week. This pushed the inventory level in San Carlos above the 30 mark for the first time all year. There were literally so many open houses to see, that it was a challenge to visit them all in the 3-hour time slot on a single day. When was the last time that happened?
But the big question was, how would the market react to such an upside? Would this finally signal a return to something resembling balance to the market? Would it help give buyers a tiny bit more leverage? Well, as you can see from the “Homes Pending Sale” section below, the market reacted just as it has all year — it devoured the inventory. No sooner did we take a peek over the top of the 30 mark, then buyers drove it right back down to the 22 listings that we have today. And yes, there were still multiple offers to go around the entire list. So, while the sudden surge of inventory certainly gave buyers lots of much-needed options, it also demonstrated how strong the market remains in San Carlos.
There's another interesting tidbit in this week's report too. For the first time in months, there's actually more red ink in the “Homes Sold” section than there was green ink. In other words, more homes sold for less than their list price than above. Indeed, the homes that closed escrow fetched an average of 98% of their list price. That's the first time in months that it has been below 100%. Is this the signal that the prices are starting to top out? Perhaps, but it will take a few more weeks like this to convince me that it wasn't just a coincidence.
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 6-15-2013:
|San Carlos Housing Data||6-15-13||Prior Week|
|Closed Sales for the Week:
|Average Sold Price
|Average $/Sq Foot (Sold)
|Sold Price vs Orig List (%)||98%||108%|
|Average DOM of Closed Sales||11||7|
|No. of Homes Pending Sale:||39||34|
|Inventory of Active Listings:
|Average Price of Active Listings:||$1,438,143||$1,362,240
|Average DOM of Active Listings:||23||18|
|Average $/Sq Foot (List)||$605||$610|
||0.56 : 1||0.85 : 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.
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|
|1013 Rosewood Avenue||$1,988,000||$1,975,000||+$13,000 (+0.7%)
|29 Kirkwood Way||$1,650,000||$1,799,000||-$149,000 (-8.3%)
|108 Aster Road||$1,510,000||$1,478,000||+$32,000 (+2.2%)
|1082 Lupin Way||$1,451,000||$1,499,980||-$48,980 (-3.3%)
|620 Park Avenue||$1,450,000||$1,499,000||-$49,000 (-3.3%)
|125 Fairmont Avenue||$1,285,000||$1,349,000||-$64,000 (-4.7%)
|2724 Clifford Avenue||$1,050,000||$1,050,000||$0 (0%)
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.)
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|
|438 De Anza Avenue||19||$899,000|
|1383 Chestnut Street||8||$925,000|
|1341 Central Avenue||11||$1,078,000|
|430 Erlin Drive||10||$999,000|
|744 Tamarack Avenue||12||$1,020,000|
|131 Alberta Avenue||12||$879,000|
|372 Beverly Drive||7||$1,149,000|
|785 Buckland Avenue||7||$1,449,000|
|1500 Cordilleras Avenue||9||$965,000|
|233 Devonshire Boulevard||7||$1,289,000|
|275 Club Drive||7||$869,950|
|2036 Saint Francis Way||9||$1,195,000|
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.)
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|
|860 Regent Court||$1,598,000||5BR/3BA||2,710/8,400||Val Vandervort, Keller Williams|
|1265 Eaton Avenue||$1,255,000||3BR/2.5BA||1,850/7,000||Tom Neel, Coldwell Banker|
|248 Edgehill Drive||$1,199,000||4BR/3BA||2,180/4,653||Marc Romer, RE/MAX|
|2349 Eaton Avenue||$1,050,000||3BR/2BA||1,530/5,760||David Young, Coldwell Banker|
|973 Alameda||$802,000||3BR/1.5BA||1,050/5,123||Gregory Van Hauser, Taylor Properties|
|2429 San Carlos Avenue||$799,000||3BR/2BA||1,320/7,000||Larry Panozzo, Today Sothebys|
Note: The listing data provided above is strictly for informational purposes only, and should not imply that the author is the listing agent.
(Click the “Homes For Sale” sign below to see ALL of the homes currently for Sale in San Carlos.)
Condos and Townhomes Sold in San Carlos:
Below are the condos/townhouses that sold this past week. Click on the address for all of the details:
|Address||Sold Price||Orig. List||Difference||DOM|
|–||$-||$-|| +$0 (+0%)
(Click the “Condos Sold” button below to see all of the condos and townhomes that have recently sold in San Carlos)
Condo/Townhouse Pending Sales in San Carlos
The following condos/townhouses are now pending sale:
|3331 Brittan Avenue #11||13|
(Click the “Condos Pending Sale” button below to see all of the condos and townhomes that are pending sale in San Carlos)
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|
|19 Trillium Lane||$989,000||2BR/2.5BA||1,709||Thomas Lunkley, SC Properties|
(Click the “Condos for Sale” button below to see all of the condos and townhomes that are currently for sale in San Carlos)
Want Your Info Sooner?
(The “San Carlos Week in Review” series is a summary of new listings and home sales in San Carlos for the prior week.)