The San Carlos Real Estate Week in Review: 9-14-13.
September 16, 2013
Slowing Down?
One of the ways that you can use to gauge the heat of the real estate market is to look at the number of pending sales. One might think that it would be to look at the sold homes, but the homes that are listed as “sold” below actually went pending 3-4 weeks ago, and just closed escrow this past week. The number of pending sales gives you an idea of how many people are writing offers on homes, and by that measure it was a slow week in San Carlos. Only 3 single-family residences went into contract, and not a single condo or townhome took an offer.
Is this a trend? One week's data does not make a trend — it just means it was a slow week. But I am hearing the sentiment more and more often from buyers and agents that the market seems to be cooling down. I'm not totally convinced of that yet — perhaps a few more weeks of consistent data like this will change my mind.
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 9-14-2013:
| San Carlos Housing Data | 9-14-13 | Prior Week |
|---|---|---|
| Closed Sales for the Week: |
5 | 3 |
| Average Sold Price |
$1,173,000 | $1,115,000 |
| Average $/Sq Foot (Sold) |
$729 | $759 |
| Sold Price vs Orig List (%) | 103% | 112% |
| Average DOM of Closed Sales | 21 | 12 |
| No. of Homes Pending Sale: | 30 | 32 |
| Inventory of Active Listings: |
23 | 22 |
| Average Price of Active Listings: | $1,445,210 | $1,458,990 |
| Average DOM of Active Listings: | 37 | 31 |
| Average $/Sq Foot (List) | $605 | $601 |
| Active-Pending Ratio: |
0.77 : 1 | 0.69 : 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 |
|---|---|---|---|---|
| 248 Club Drive | $1,525,000 | $1,579,950 | -$54,950 (-3.5%) |
61 |
| 835 Orange Avenue | $1,500,000 | $1,388,000 | +$112,000 (+8.1%) |
5 |
| 355 Phelps Road | $1,408,000 | $1,310,000 | +$98,000 (+7.5%) |
5 |
| 237 Alberta Avenue | $920,000 | $939,000 | -$19,000 (-2.0%) |
19 |
| 339 Cedar Street | $825,000 | $739,000 | +$86,000 (+11.6%) |
7 |
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 |
|---|---|---|
| 953 Lupin Way | 17 | $849,000 |
| 260 Beverly Drive | 23 | $989,000 |
| 300 De Anza Avenue | 7 | $1,087,000 |
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 |
|---|---|---|---|---|
| 2425 Melendy Drive | $1,498,000 | 3BR/3BA | 2,400/9,301 | Justine Ford, Today Sothebys |
| 262 Cedar Street | $1,079,000 | 3BR/1.5BA | 1,790/5,170 | Greg Celotti, Alain Pinel Realtors |
| 294 Devonshire Boulevard | $998,000 | 2BR/1.5BA | 1,190/16,320 | Heather Hansen, Alain Pinel Realtors |
| 1040 Sylvan Drive | $699,000 | 2R/1BA | 820/5,000 | Jim Minkey, 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.
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