The San Carlos Real Estate Week in Review: 11-29-14.
December 1, 2014
It's kind of ironic that today is Cyber Monday, because there's virtually nothing for sale in the San Carlos real estate market. As of this morning, there are only 6 single-family homes for sale in the entire city, which is spot on to what I predicted last week. It's even worse in the condo/townhouse market — there's only one of them for sale right now. December is not typically a month that sees lots of new listings, so you can expect that inventory is going to stay in the tank until after the first of the year.
On the topic of new listings, it certainly appears now that 2014 will finish with the lowest level of new single-family home listings to hit the market in the past 10 years — unless a flurry of new listings were to hit in the next 31 days. I will post all of the relevant statistics in the annual year-end wrap-up, but that's a significant trend that most certainly had an influence on the direction that housing prices headed in San Carlos in 2014…which, to nobody's surprise, will likely be the highest level on record.
Here are the details from last week:
By the Numbers.
Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the week ending 11-29-2014:
| San Carlos Housing Data | 11-29-14 | Prior Week |
|---|---|---|
| Closed Sales for the Week: | 2 | 8 |
| Average Sold Price: | $1,342,500 | $1,139,750 |
| Average $/Sq Foot (Sold) | $675 | $907 |
| Average Sold – Percentage Of List Price: | 120% | 104% |
| Average DOM of Closed Sales | 11 | 20 |
| No. of Homes Pending Sale: | 20 | 16 |
| No. of Active Listings: | 6 | 18 |
| Average Price of Active Listings: | $1,347,650 | $1,244,799 |
| Average DOM of Active Listings: | 25 | 36 |
| Average $/Sq Foot (List) | $814 | $707 |
| Active-Pending Ratio: | 0.3 : 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 |
|---|---|---|---|---|
| 2041 San Carlos Avenue | $1,560,000 | $1,350,000 | +$210,000 (+15.6%) | 9 |
| 345 Oakview Drive | $1,125,000 | $899,000 | +$226,000 (+25.1%) | 13 |
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San Carlos Homes Pending Sale for the Week:
The following homes went into contract his week. Click on the address of each home to see more details and photos:
| Address | DOM (days) | List Price |
|---|---|---|
| 1322 Central Avenue | 11 | $1,898,000 |
| 128 Garnet Avenue | 10 | $1,050,000 |
| 410 Ridge Road | 11 | $724,950 |
| 179 Bay View Drive | 14 | $1,549,000 |
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 see more details and photos.
| Address | List Price | BR/BA | Sq Ft (home/lot) | Listed By |
|---|---|---|---|---|
| — | $– | — | — | — |
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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