The San Carlos Real Estate Week in Review: 3-22-14.
March 24, 2014
For home buyers in this market hoping to make San Carlos their new zip code, this week's report will seem somewhat analogous to driving past a car accident on the freeway: You really want to look at it, but you might be sorry once you did. The sold figures that are posted below will probably take a little bit of starch out of even the most die-hard home buyers, while at the same time making every homeowner in San Carlos feel like they hit the lottery.
Some of the recorded sales below are simply breathtaking, with premiums of over 40% paid to secure these listings. But these huge differentials aren't solely caused by the listings being under-priced to begin with. The average price per square foot of the 8 sales that closed last week was $873 — an incredible price for San Carlos, and more akin to what you would have seen in Menlo Park a few months ago (they're now at $1,000/square foot.) So no matter how you look at it, it's getting very expensive to live in San Carlos.
Here are the details 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 3-22-2014:
| San Carlos Housing Data | 3-22-14 | Prior Week |
|---|---|---|
| Closed Sales for the Week: | 8 | 5 |
| Average Sold Price: | $1,401,688 | $1,727,600 |
| Average $/Sq Foot (Sold) | $873 | $747 |
| Sold Price vs Orig List Price: | 119% | 111% |
| Average DOM of Closed Sales | 8 | 9 |
| No. of Homes Pending Sale: | 27 | 28 |
| No. of Active Listings: | 11 | 14 |
| Average Price of Active Listings: | $1,318,273 | $1,355,429 |
| Average DOM of Active Listings: | 15 | 11 |
| Average $/Sq Foot (List) | $622 | $706 |
| Active-Pending Ratio: | 0.41 : 1 | 0.50 : 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 |
|---|---|---|---|---|
| 2089 Eaton Avenue | $1,855,000 | $1,449,000 | +$406,000 (+28.0%) | 7 |
| 917 Rosewood Avenue | $1,728,000 | $1,179,000 | +$549,000 (+46.6%) | 9 |
| 2457 Melendy Drive | $1,500,000 | $1,449,000 | +$51,000 (+3.5%) | 9 |
| 2545 Eaton Avenue | $1,367,000 | $1,180,000 | +$187,000 (+15.8%) | 1 |
| 3280 Brittan Avenue | $1,358,000 | $1,388,888 | -$30,888 (-2.2%) | 15 |
| 201 Edgehill Drive | $1,200,500 | $849,000 | +$351,500 (+41.4%) | 8 |
| 1505 Belmont Avenue | $1,105,000 | $975,000 | +$130,000 (+13.3%) | 11 |
| 304 Cedar Street | $1,100,000 | $939,000 | +$161,000 (+17.1%) | 5 |
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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San Carlos Homes Pending Sale for the Week:
The following homes went into contract his week. Click on the address to see more details:
| Address | DOM (days) | List Price |
|---|---|---|
| 115 Sheldon Avenue | 11 | $949,000 |
| 1906 Saint Francis Way | 8 | $1,419,000 |
| 1989 Belle Avenue | 8 | $1,195,000 |
| 2321 Eaton Avenue | 7 | $1,099,000 |
| 115 Barford Avenue | 7 | $1,550,000 |
| 2511 Melendy Drive | 28 | $1,699,000 |
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. Click on the address of each home to get the complete details.
| Address | List Price | BR/BA | Sq Ft (home/lot) | Listed By |
|---|---|---|---|---|
| 2444 Melendy Drive | $1,399,000 | 3BR/2.5BA | 2,390/7,497 | Vivienne Kelvin, Realty World |
| 41 Walton Street | $1,298,000 | 3BR/2BA | 1,650/6,700 | Greg Celotti, Alain Pinel Realtors |
| 942 McCue Avenue | $869,000 | 3BR/2BA | 1,596/5,150 | Bryan Jacobs, RealSmart Properties |
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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