The San Carlos Real Estate Week in Review: 2-22-15.

February 23, 2015

The continued strength of the San Carlos housing market was very evident this past week with some of the closing prices that are posted below.  Two of the homes that closed fetched $250,000 over their asking prices.  On top of that, there was a $1,000,000 sale in the Greater East Side neighborhood, which hasn't happened that often in the past, but will probably start to happen with more frequency as finding any house in San Carlos for under $1,000,000 is becoming that much more elusive.

There is a sense in the real estate community that this Spring will be a strong season for listings, which will be good for the entire market.  Even though this lopsided market clearly favors the sellers, it's so far tilted in that direction that it's actually scaring some buyers out of the market — which is not good for either side. No matter how many listings hit the market this Spring, there will still be far more buyers than there are homes to put them in. But a market with decent inventory is more healthy than what we are slugging through right now.

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 2-22-2015:

San Carlos Housing Data 2-22-15 Prior Week
Closed Sales for the Week: 5 3
Average Sold Price: $1,506,000 $1,593,333
Average $/Sq Foot (Sold) $891 $632
Average Sold – Percentage Of List Price: 110% 113%
Average DOM of Closed Sales 11 55
No. of Homes Pending Sale: 24 23
No. of Active Listings: 10 10
Average Price of Active Listings: $1,388,200 $1,331,500
Average DOM of Active Listings: 10 47
Average $/Sq Foot (List) $806 $753
Active-Pending Ratio: 0.42 : 1 0.43: 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
999 Orange Avenue $1,750,000 $1,498,000 +$252,000 (+16.8%) 13
875 Heather Drive $1,700,000 $1,650,000 +$50,000 (+3.0%) 9
2807 Norburt Lane $1,550,000 $1,299,000 +$251,000 (+19.3%) 10
162 Coronado Avenue $1,515,000 $1,495,000 +$20,000 (+1.3%) 15
1039 Springfield Drive $1,015,000 $939,000 +$76,000 (+8.1%) 7

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 of each home to see more details and photos:

Address DOM (days) List Price
2408 San Carlos Avenue 12 $999,000
1092 Hewitt Drive 13 $1,250,000
2140 Elizabeth Street 9 $1,795,000

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
134 Hillcrest Road $1,950,000 5BR/3BA 2,464/9,628 Christine Morgan, RE/MAX Star Properties
2501 Eaton Avenue $1,499,000 3BR/2.5BA 2,350/11,866 Timothy Auran
68 Madera Avenue $1,299,000 5BR/3BA 2,439/5,550 Aaron Bellings, Vanguard Properties
278 Vine Street $1,298,000 3BR/2BA 1,510/5,000 Bob Bredel, Dwell Realtors
1440 Hull Drive $1,249,000 4BR/2BA 1,680/7,700 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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