The San Carlos Real Estate Week in Review: 11-9-13.
November 11, 2013
Entry-Level Insanity.
There doesn't seem to be anything that can hold back the entry-level market in San Carlos right now. To give you an idea of how much that particular segment of the market has grown this past year, the definition of an “entry-level” home San Carlos used to be one that was priced at $1M or less. Now, it's safe to say the upper boundary of the entry-level home in San Carlos is about $1.5M — which is about the going rate for the benchmark clean, updated 3BR home in the flats.
The sales numbers below illustrate this point very well. For the 6 homes that were listed for under $1.5M, they all sold with multiple offers in about 10 days, and got an average of 115% of the asking price. For the two homes that were listed above $1.5M, they fetched 93% of their asking price, while taking nearly 41 days to sell. That is an amazing contrast, and serves to illustrate just how competitive the lower end of the market still is in San Carlos.
Here are the numbers for 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 11-9-2013:
| San Carlos Housing Data | 11-9-13 | Prior Week |
|---|---|---|
| Closed Sales for the Week: |
8 | 4 |
| Average Sold Price |
$1,391,385 | $1,462,000 |
| Average $/Sq Foot (Sold) |
$752 | $720 |
| Sold Price vs Orig List (%) | 106% | 104% |
| Average DOM of Closed Sales | 19 | 39 |
| No. of Homes Pending Sale: | 21 | 22 |
| Inventory of Active Listings: |
13 | 17 |
| Average Price of Active Listings: | $1,606,923 | $1,384,056 |
| Average DOM of Active Listings: | 48 | 37 |
| Average $/Sq Foot (List) | $636 | $651 |
| Active-Pending Ratio: |
0.62 : 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 | Days on Market |
|---|---|---|---|---|
| 14 Estrada Place | $2,300,000 | $2,599,000 | -$299,000 (-11.5%) |
82 |
| 124 Chesham Avenue | $1,642,000 | $1,659,000 | -$13,000 (-0.8%) |
12 |
| 209 Devonshire Boulevard | $1,600,000 | $1,289,000 | +$311,000 (+24.9%) |
8 |
| 1518 Eaton Avenue | $1,345,000 | $1,295,000 | +$50,000 (+3.9%) |
9 |
| 1089 Porto Marino Drive | $1,301,680 | $1,199,000 | +$102,680 (+8.7%) |
17 |
| 1137 Woodland Avenue | $1,112,000 | $889,000 | +$223,000 (+25.1%) |
9 |
| 1100 Orange Avenue | $929,000 | $799,000 | +$130,000 (+16.3%) |
11 |
| 1224 Howard Avenue | $905,000 | $799,000 | +$106,000 (+13.3%) |
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.
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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 |
|---|---|---|
| 2641 San Carlos Avenue | 10 | $689,000 |
| 315 Old County Road | 29 | $710,000 |
| 220 Winding Way | 10 | $649,000 |
| 1036 San Remo Way | 17 | $1,150,000 |
| 753 Walnut Street | 35 | $1,095,000 |
| 8 Portofino Court | 11 | $1,599,000 |
| 185 Cedar Street | 7 | $949,950 |
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 |
|---|---|---|---|---|
| 1409 Cordilleras Avenue | $1,795,000 | 4BR/3BA | 2,277/6,760 | John Shroyer, Today Sothebys |
| 3157 La Mesa Drive | $1,679,000 | 4BR/2BA | 1,900/7,800 | Susan Wang, Coldwell Banker |
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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