The San Carlos Real Estate Week in Review: 9-21-13.
September 23, 2013
Chugging Along
Last week we tabled the question as to whether the real estate market may be starting to slow a bit from the break-neck pace that we've seen all year. Certainly, last week's numbers were less than stellar in comparison to the rest of the year's seemingly unstoppable numbers. But we also noted that one week's worth of data does not constitute a trend.
The most recent week's data rebounded nicely on almost all fronts. The most telling statistic was that 8 homes went into contract, which shows that buyers are still out there in big numbers. Another good statistic was that 7 new listings hit the market, which indicates that sellers have no trepidation about bring their home on the market in the Fall. This will serve to keep the market chugging along.
The one indicator that was down this past week was the sales price/list price ratio. This has been running at about 110% on average for most of the year. This past week, homes that closed escrow in San Carlos fetched 99% of the asking price on average. It's hard to say whether this is just a function of more realistic asking prices, or if the sales figures are starting to level off, but it's worth keeping an eye on in the coming weeks.
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 9-21-2013:
| San Carlos Housing Data | 9-21-13 | Prior Week |
|---|---|---|
| Closed Sales for the Week: |
6 | 6 |
| Average Sold Price |
$1,131,667 | $1,173,000 |
| Average $/Sq Foot (Sold) |
$688 | $729 |
| Sold Price vs Orig List (%) | 99% | 103% |
| Average DOM of Closed Sales | 18 | 21 |
| No. of Homes Pending Sale: | 29 | 30 |
| Inventory of Active Listings: |
22 | 23 |
| Average Price of Active Listings: | $1,714,770 | $1,445,210 |
| Average DOM of Active Listings: | 37 | 37 |
| Average $/Sq Foot (List) | $547 | $605 |
| Active-Pending Ratio: |
0.76 : 1 | 0.77 : 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 |
|---|---|---|---|---|
| 216 Exeter Avenue | $1,576,000 | $1,638,888 | -$62,888 (-3.8%) |
25 |
| 1724 Greenwood Avenue | $1,290,000 | $1,098,000 | +$192,000 (+17.5%) |
8 |
| 1671 Belmont Avenue | $1,200,000 | $1,099,000 | +$101,000 (+9.2%) |
4 |
| 2640 Howard Avenue | $1,185,000 | $1,349,950 | -$164,950 (-12.2%) |
30 |
| 148 Vine Street | $1,150,000 | $989,000 | +$161,000 (+16.3%) |
8 |
| 1002 Holly Street | $684,000 | $649,950 | +$34,050 (+5.2%) |
11 |
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 |
|---|---|---|
| 346 Cedar Street | 10 | $988,889 |
| 602 De Anza Avenue | 12 | $999,000 |
| 1201 Oak Street | 12 | $879,000 |
| 262 Cedar Street | 9 | $1,079,000 |
| 294 Devonshire Boulevard | 10 | $998,000 |
| 10 Graceland Lane | 35 | $1,289,000 |
| 33 Chestnut Street | 20 | $789,000 |
| 2425 Melendy Drive | 11 | $1,498,000 |
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 |
|---|---|---|---|---|
| 18 Estrada Place | $2,350,000 | 4BR/4BA | 3,935/30,000 | David Young, Coldwell Banker |
| 76 Bay View Drive | $1,675,000 | 4BR/3.5BA | 3,710/7,490 | Carrie Du Bois, Coldwell Banker |
| 2800 Roland Avenue | $1,195,000 | 3BR/2BA | 2,000/5,440 | John Shroyer, Today Sothebys |
| 40 Hartford Avenue | $999,000 | 4BR/3BA | 2,180/7,200 | Justine Ford, Today Sothebys |
| 55 Shelford Avenue | $999,000 | 3BR/2.5BA | 1,990/9,100 | Linda Murphy, Alain Pinel Realtors |
| 3280 Brittan Avenue | $900,000 | 3BR/2BA | 2,020/10,875 | Kristina Patrick, RE/MAX |
| 2133 Brittan Avenue | $749,000 | 2BR/1BA | 1,420/6,250 | Greg Celotti, 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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