The San Carlos Real Estate Week in Review: 10-11-14.
October 13, 2014
We are effectively at the mid-point of the Fall real estate market in San Carlos, square in between the Labor Day and Thanksgiving weekends. The market has taken on a bit more of a relaxed vibe than the craziness and intensity that we witnessed during the Spring market. As we discussed last week, certain homes that don't necessarily have all of the boxes checked for today's buyers are taking a bit of a haircut to get into contract. Homes that have the “right stuff” are still selling quickly, and in a competitive environment. But the number of offers on each deal seems to be more reasonable than what we witnessed earlier this year. That trend certainly continued last week.
This should be good news for home buyers who have weathered the storm of 2014, but may still be reluctant to step back into the fray. The second half of the Fall market should present some great opportunities to pick up a home before the market kicks into hibernation mode for the winter. The big challenge over the coming weeks, however, will be re-building the inventory to give buyers something to choose from. As of this morning, there are only 11 single-family homes for sale in the entire city, and that number will likely drop further as the week progresses.
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 10-11-2014:
| San Carlos Housing Data | 10-11-14 | Prior Week |
|---|---|---|
| Closed Sales for the Week: | 5 | 9 |
| Average Sold Price: | $1,387,00 | $1,537,667 |
| Average $/Sq Foot (Sold) | $728 | $810 |
| Average Sold – Percentage Of List Price: | 104% | 99% |
| Average DOM of Closed Sales | 12 | 32 |
| No. of Homes Pending Sale: | 26 | 26 |
| No. of Active Listings: | 12 | 15 |
| Average Price of Active Listings: | $1,525,407 | $1,364,393 |
| Average DOM of Active Listings: | 43 | 34 |
| Average $/Sq Foot (List) | $657 | $734 |
| Active-Pending Ratio: | 0.46 : 1 | 0.58: 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 |
|---|---|---|---|---|
| 1721 Cedar Street | $1,560,000 | $1,624,000 | -$64,000 (-3.9%) | 15 |
| 460 Phelps Road | $1,525,000 | $1,499,900 | +$25,100 (+1.7%) | 10 |
| 75 Bayport Court | $1,376,000 | $1,049,000 | +$327,000 (+31.2%) | 11 |
| 107 Winding Way | $1,300,000 | $1,349,000 | -$49,000 (-3.6%) | 11 |
| 23 Willow Glen Way | $1,175,000 | $1,175,000 | $0 (0%) | 13 |
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.
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 |
|---|---|---|
| 950 Cherry Street | 31 | $745,000 |
| 1725 Eaton Avenue | 12 | $998,000 |
| 1528 Cordilleras Avenue | 4 | $1,089,000 |
| 309 Portofino Drive | 13 | $1,299,000 |
| 419 Emerald Avenue | 7 | $1,289,000 |
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.
(Click the “Homes Pending Sale” sign below to see ALL the homes that are Pending Sale in San Carlos.)
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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 |
|---|---|---|---|---|
| 3394 Melendy Drive | $1,749,000 | 4BR/3BA | 2,335/7,350 | Robert, Real Estate eBroker |
| 55 Sequoia Court | $1,699,000 | 4BR/2.5BA | 2,610/5,096 | Chris Frangos, Keller Williams |
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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Posted in:
timing is everything…but as long as inventory stays low, prices will remain relatively high.
Some agents need to seriously consider the presentation of a property before simply placing that sign in the front yard.