The San Carlos Real Estate Week in Review: 7-19-14.

One trend you may have noticed in the past few weeks of this report is the re-occurrence of red ink in the “Single Family Homes Sold in San Carlos” section, which designates when a home sells for below its asking price.   While there certainly hasn't been a preponderance of homes that are failing to fetch their asking price, there has indeed been an increase in just the past few weeks.  And that's quite noticeable in a year when virtually every home is fetching 10% above the list price — or more.

One may chalk part of this phenomenon up to seasonal slowness in the market.   But this tends to point to a market that is starting to test its upper limits of what buyers are willing to spend.   And while most homes with high desirability factors are still fetching multiple offers and strong prices, some of the homes that have deficiencies (location, condition, etc…) are not simply jumping off the market like they were earlier in the spring.   There are even some nice, new homes that are finding some resistance at the upper end of the price range.  It will be interesting to monitor this trend in the coming weeks.

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 7-19-2014:

San Carlos Housing Data	7-19-14	Prior Week
Closed Sales for the Week:	7	3
Average Sold Price:	$1,342,143	$1,350,296
Average $/Sq Foot (Sold)	$810	$785
Average Percentage Over List Price:	108%	113%
Average DOM of Closed Sales	16	11
No. of Homes Pending Sale:	25	28
No. of Active Listings:	21	17
Average Price of Active Listings:	$1,542,900	$1,522,611
Average DOM of Active Listings:	31	35
Average $/Sq Foot (List)	$671	$736
Active-Pending Ratio:	0.84 : 1	0.64 : 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
154 Garnet Avenue	$1,720,000	$1,500,000	+$220,000 (+14.7%)	4
1601 Arroyo Avenue	$1,650,000	$1,325,000	+$325,000 (+24.5%)	8
3131 Brittan Avenue	$1,470,000	$1,488,000	-$18,000 (-1.2%)	14
240 Lemoore Drive	$1,250,000	$1,525,000	-$275,000 (-18.0%)	56
236 Kelton Avenue	$1,225,000	$1,079,000	+$146,000 (+13.5%)	14
889 Cordilleras Avenue	$1,210,000	$998,950	+$211,050 (+21.1%)	6
960 Cherry Street	$870,000	$799,888	+$70,112 (+8.8%)	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
507 Exeter Way	18	$1,299,000
549 Prospect Street	30	$945,000
1100 Walnut Street	6	$1,199,999
2240 Howard Avenue	8	$1,747,000

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
23 Camborne Avenue	$2,395,000	5BR/4BA	3,304/7,550	Sarah Ravella, Intero
3230 La Mesa Drive	$1,500,000	3BR/2.5BA	2,600/10,098	Philip Watson, Coldwell Banker
1079 Sunset Drive	$1,449,900	4BR/2.5BA	2,700/6,150	Damon Holst, Intero
2740 Milano Way	$1,385,000	4BR/3BA	2,110/8,532	Melanie Smith, Coldwell Banker
578 Cedar Street	$1,290,000	4BR/2BA	2,084/6,500	Miwan Kim, Prima Investment Group
109 Club Drive	$1,175,000	3BR/3BA	1,530/10,320	Donna Colangelo, Intero
976 Holly Street	$786,000	2BR/1BA	1,040/5,850	Bob Bredel, 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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