The San Carlos Real Estate Week in Review: 5-17-14.
May 19, 2014
The rush for sellers to get their homes on the market continued again last week in San Carlos, with 10 new listings making their market debut. This has to be an encouraging sign to home buyers, as for the second consecutive week are sitting with inventory levels in excess of 20 homes, and good choices in all of the price ranges.
Based on informal poll that I took with fellow agents, it seems as if the increased inventory (not only in San Carlos but also in surrounding communities) has served to temper the degree and number of multiple offers that we have grown accustomed to seeing this year. A number of homes that we figured would garner 5-6 offers only got 2. This can be attributed to seasonal slowing in the market, buyer fatigue, or simply that there are finally more homes to choose from and the same buyers aren't just battling over the same places.
Whatever the cause, the market condition for home buyers right now in San Carlos is simply the best that it as been this entire year — more inventory, and fewer offers. If you're still in the hunt for a home, stick with it for the next few weeks. Your perseverance may finally pay off.
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 5-17-2014:
| San Carlos Housing Data | 5-17-14 | Prior Week |
|---|---|---|
| Closed Sales for the Week: | 5 | 14 |
| Average Sold Price: | $1,591,400 | $1,378,271 |
| Average $/Sq Foot (Sold) | $902 | $768 |
| Average Percentage Over List Price: | 110% | 115% |
| Average DOM of Closed Sales | 11 | 10 |
| No. of Homes Pending Sale: | 20 | 18 |
| No. of Active Listings: | 23 | 20 |
| Average Price of Active Listings: | $1,562,117 | $1,644,844 |
| Average DOM of Active Listings: | 13 | 10 |
| Average $/Sq Foot (List) | $714 | $756 |
| Active-Pending Ratio: | 1.15 : 1 | 1.1 : 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 |
|---|---|---|---|---|
| 105 Mirabel Place | $1,860,000 | $1,900,000 | -$40,000 (-2.1%) | 0 |
| 123 Rockridge Road | $1,700,000 | $1,399,000 | +$301,000 (+21.5%) | 8 |
| 1308 Orange Avenue | $1,550,000 | $1,399,000 | +$151,000 (+10.7%) | 38 |
| 230 Kelton Avenue | $1,522,000 | $1,500,000 | +$22,000 (+1.5%) | 1 |
| 524 Emerald Avenue | $1,325,000 | $1,049,000 | +$276,000 (+26.3%) | 10 |
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 |
|---|---|---|
| 1944 Eucalyptus Avenue | 12 | $1,695,000 |
| 19 Camborne Avenue | 11 | $1,800,000 |
| 798 Cedar Street | 10 | $1,225,000 |
| 1343 Chestnut Street | 7 | $1,249,000 |
| 50 Hilltop Drive | 13 | $1,999,000 |
| 600 Knoll Drive | 8 | $1,980,000 |
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 |
|---|---|---|---|---|
| 58 Hillcrest Road | $2,349,000 | 4BR/3.5BA | 3,680/9,406 | Chuck Gillooley, Alain Pinel Realtors |
| 112 Arundel Road | $1,999,000 | 4BR/3.5BA | 3,184/7,870 | John Shroyer, Today Sothebys |
| 2133 Brittan Avenue | $1,519,000 | 4BR/2.5BA | 2,401/6,250 | Melanie Smith, Coldwell Banker |
| 154 Garnet Avenue | $1,500,000 | 4BR/2.5BA | 2,250/5,290 | Jeanine Roza, Coldwell Banker |
| 1944 Eaton Avenue | $1,385,000 | 3BR/2BA | 1,700/5,500 | Tim Earley, Coldwell Banker |
| 850 Regent Court | $1,350,000 | 4BR/3BA | 2,128/10,375 | Trish Ward, Keller Williams |
| 80 Hartford Avenue | $1,280,800 | 3BR/2BA | 1,550/7,200 | Scott Philip, Svetlana Raleigh |
| 119 Brook Street | $1,249,000 | 3BR/2BA | 1,410/7,540 | Hiep Nguyen, Intero |
| 304 Elm Street | $1,198,000 | 4BR/2BA | 1,580/7,800 | Bob Bredel, Today Sothebys |
| 843 Cedar Street | $998,000 | 3BR/2.5BA | 1,450/5,733 | John Shroyer, 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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