The San Carlos Real Estate Week in Review: 8-3-13.
August 4, 2013
San Carlos Real Estate Summary.
It still amazes me how much over the asking price buyers are willing to go for the right home. This week captures what has been essentially happening most of the year — buyers are obliterating the asking prices of homes in competitive bids. This week, 1039 Hewitt Drive blew the lid off its list price by over $305,000 after getting over a dozen offers. And not to be overlooked, the buyers of 1719 White Oak Way paid a healthy $225,000 premium to make sure they go this house. Overall, the homes that closed escrow this week fetched an average of 115% of the asking price. That's pretty amazing.
This just serves as a stark reminder to home buyers to bring their A-game to the table if they're going to make San Carlos their next address, because the market is still incredibly strong.
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 8-3-2013:
| San Carlos Housing Data | 8-3-13 | Prior Week |
|---|---|---|
| Closed Sales for the Week: |
5 | 10 |
| Average Sold Price |
$1,260,000 | $1,445,800 |
| Average $/Sq Foot (Sold) |
$750 | $700 |
| Sold Price vs Orig List (%) | 115% | 118% |
| Average DOM of Closed Sales | 11 | 13 |
| No. of Homes Pending Sale: | 27 | 25 |
| Inventory of Active Listings: |
27 | 31 |
| Average Price of Active Listings: | $1,560,585 | $1,417,251 |
| Average DOM of Active Listings: | 36 | 27 |
| Average $/Sq Foot (List) | $617 | $617 |
| Active-Pending Ratio: |
1.0 : 1 | 1.2 : 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 |
|---|---|---|---|---|
| 1039 Hewitt Drive | $1,705,000 | $1,399,888 | +305,112 (+21.8%) |
13 |
| 1719 White Oak Way | $1,475,000 | $1,250,000 | +$225,000 (+18.0%) |
8 |
| 2217 Brittan Avenue | $1,100,000 | $998,000 | +102,000 (+10.2%) |
7 |
| 1016 Walnut Street | $1,035,000 | $1,035,000 | $0 (0%) |
16 |
| 2429 San Carlos Avenue | $985,000 | $799,000 | +$186,000 (+23.3%) |
17 |
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 |
|---|---|---|
| 30 Vine Street | 12 | $889,000 |
| 2079 Arroyo Avenue | 16 | $825,000 |
| 1010 Cherry Street | 12 | $799,000 |
| 2460 San Carlos Avenue | 13 | $725,000 |
| 72 Bayport Court | 10 | $889,950 |
| 1414 Cordilleras Avenue | 7 | $995,000 |
| 2813 Brittan Avenue | 13 | $1,049,000 |
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 |
|---|---|---|---|---|
| 240 Hillcrest Road | $2,199,000 | 4BR/3.5BA | 5,010/7,800 | Bette Carr-Walton, Walton & Walton |
| 2640 Howard Avenue | $1,349,950 | 4BR/2.5BA | 1,580/5,650 | John Sieling, Today Sothebys |
| 2457 Melendy Drive | $1,319,000 | 4BR/2.5BA | 2,050/8,136 | Arpad Racz, Atlas Realty |
| 74 Vine Street | $1,100,000 | 4BR/2.5BA | 1,670/7,750 | John P Lee, MRL Group |
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:
“This just serves as a stark reminder to home buyers to bring their A-game to the table if they’re going to make San Carlos their next address, because the market is still incredibly strong.”
or perhaps it is just an indicator that in an overheated market – buyers should not bring their game at all.
There are those who are doing just that as well.