The San Carlos Real Estate Week in Review: 8-24-13.

Affordable Options.

There are lots of interesting gems to be found in the numbers below which reflect last week's real estate activity in San Carlos.  The first one to touch on is affordability.  There was a nice push of new listings again last week, which is keeping the inventory of new homes over the 30 mark.   But what was particularly interesting about last week was the affordability factor.  Of the 11 homes to debut on the market, 64% of them were under the $1M mark.  This will give first time buyers a level of choice that they haven't had all year.

The other interesting number is the active/pending ratio.  This number has been mired at ridiculously low levels all year, well under the 1 mark.   But this past week, it surged to the highest point this year at 1.7.   This ratio is a good measure of buying vs listing activity, and looking at the numbers below for last week it shouldn't be a surprise to see this number surge — 11 new listings compared to only 3 homes going into contract.   1.7 is not an abnormally high number, but it's an indication that the pace of selling activity is slowing somewhat in San Carlos.

The third number that jumps out is $1,202.   That's the price per square foot that the house on 1324 Oakhurst Avenue fetched when it closed escrow this week.  Shocking?  Not when you consider that the home sits on a nearly 10,000 sq foot flat lot on a fantastic San Carlos street.   This just drives home the point I made in this post about lot values in San Carlos — sometimes the dirt drives the value of the sale, and the structure is just an afterthought.  This sale was a perfect example of that scenario.

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 8-24-2013:

San Carlos Housing Data	8-24-13	Prior Week
Closed Sales for the Week:	7	5
Average Sold Price	$1,100,143	$1,278,857
Average $/Sq Foot (Sold)	$808	$709
Sold Price vs Orig List (%)	112%	108%
Average DOM of Closed Sales	11	12
No. of Homes Pending Sale:	18	21
Inventory of Active Listings:	31	25
Average Price of Active Listings:	$1,421,575	$1,543,754
Average DOM of Active Listings:	29	35
Average $/Sq Foot (List)	$630	$651
Active-Pending Ratio:	1.7 : 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
1324 Oakhurst Avenue	$1,551,000	$1,349,000	+$202,000 (+15.0%)	3
810 Buckland Avenue	$1,260,000	$899,000	+$361,000 (+40.2%)	10
1544 School Street	$1,100,000	$1,025,950	+$74,050 (+7.2%)	18
74 Vine Street	$1,100,000	$1,100,000	$0 (0%)	9
242 Park Avenue	$960,000	$899,000	+$61,000 (+6.8%)	12
30 Vine Street	$880,000	$889,000	-$9,000 (-1.0%)	12
2460 San Carlos Avenue	$850,000	$725,000	+$125,000 (+17.2%)	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.

(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 to see more details:

Address	DOM (days)	List Price
2349 Eaton Avenue	66	$1,100,000
835 Orange Avenue	5	$1,388,000
1724 Greenwood Avenue	8	$1,098,000

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
369 Club Drive	$1,788,000	4BR/5BA	7,735/2 acres	Robert Stafford, Stafford Realty
462 Emerald Avenue	$1,175,000	3BR/2BA	1,710/5,500	Mary Duvall, Coldwell Banker
3363 Melendy Drive	$1,349,000	4BR/3.5BA	3,400/7,480	Eddie Azzopardi, Realty World
170 Hillcrest Road	$1,049,000	3BR/2BA	1,704/7,381	Justine Ford, Today Sothebys
260 Beverly Drive	$989,000	2BR/2BA	1,400/8,000	Stephanie Lashkoff, Ace Real Estate
212 Windsor Drive	$899,000	2BR/2BA	1,462/8,325	Gary Bulanti, Alain Pinel Realtors
1434 Cordilleras Avenue	$850,000	3BR/2BA	1,600/4,400	Tom Stone, Coldwell Banker
333 Hill Way	$750,000	3BR/2BA	1,020/5,014	Steve Tenbroeck, Alain Pinel Realtors
953 Lupin Way	$749,000	2BR/2BA	1,400/5,500	Amy Anderson, Intero
339 Cedar Street	$739,000	2BR/1BA	870/5,700	John Donahue, Coldwell Banker
76 Alameda de las Pulgas	$638,000	1BR/1BA	1,010/5,300	Howard Clark, Dumas & Company

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
757 Elm Street #14	$540,000	$599,950	-$59,950 (-10.0%)	71

(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)
1001 Laurel Street #104	11
618 Walnut Street #307	12
3331 La Mesa Drive #10	10
222 Laurel Street #307	9
19 Trillium Lane	74

(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
1199 Royal Lane	$1,075,000	4BR/2.5BA	2,880	Christine Lee, Alain Pinel Realtors
3352 La Mesa Drive #18	$679,000	3BR/2BA	1,239	Sean Clar, RE/MAX

(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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