The San Carlos Real Estate Week in Review: 3-1-15.

Last week was one of those weeks that makes San Carlos home buyers sit back and take a deep breath…or pour a strong drink.

Some of the home sales that closed last week were so far above the asking price, that it must feel like a punch in the gut for buyers trying to land a home in this market. Of the 12 homes that closed escrow, 6 of them fetched $200,000 or more over the asking price.  Two of them landed premiums of $300,000 or more.  That would be less discouraging if one could chalk this performance up to the fact that the homes might have been simply priced too far below their market value.  But with one notable exception below that was ridiculously under-priced, it's hard to find fault where the other 11 were marketed. It's simply a stark statement to the strength and resolve of the typical San Carlos home buyer in this market.

Until more inventory arrives, this is what the battlefield in San Carlos is going to look like.

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 3-1-2015:

San Carlos Housing Data	3-1-15	Prior Week
Closed Sales for the Week:	12	5
Average Sold Price:	$1,643,167	$1,506,000
Average $/Sq Foot (Sold)	$865	$891
Average Sold – Percentage Of List Price:	114%	110%
Average DOM of Closed Sales	10	11
No. of Homes Pending Sale:	17	24
No. of Active Listings:	10	10
Average Price of Active Listings:	$1,456,895	$1,388,200
Average DOM of Active Listings:	10	10
Average $/Sq Foot (List)	$787	$806
Active-Pending Ratio:	0.59 : 1	0.42: 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
240 Lemoore Drive	$2,450,000	$2,228,000	+$162,000 (+7.3%)	8
2140 Elizabeth Street	$2,000,000	$1,795,000	+$205,000 (+11.4%)	9
1017 Walnut Street	$1,775,000	$1,549,000	+$226,000 (+14.6%)	2
149 Lynton Avenue	$1,775,000	$1,687,000	+$88,000 (+5.2%)	10
1445 Greenwood Avenue	$1,725,000	$1,449,000	+$276,000 (+19.0%)	8
287 Alberta Avenue	$1,605,000	$1,379,000	+$226,000 (+16.4%)	13
17 Granite Court	$1,550,000	$1,600,000	-$50,000 (-3.1%)	13
1911 Belle Avenue	$1,500,000	$1,525,000	-$25,000 (-1.6%)	14
753 Tamarack Avenue	$1,500,000	$1,158,000	+$342,000 (+29.5%)	8
205 Clifton Avenue	$1,440,000	$1,049,000	+$391,000 (+37.3%)	7
6 Maple Way	$1,283,000	$1,199,000	+$84,000 (+7.0%)	0
109 Arundel Road	$1,115,000	$925,000	+$190,000 (+20.1%)	24

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
278 Vine Street	2	$1,298,000
941 Lupin Way Lower	21	$1,350,000
953 Lupin Way Lower	14	$1,099,000
68 Madera Avenue	6	$1,299,000
7 Krista Lane	12	$1,488,000

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
1021 Walnut Street	$1,798,000	4BR/3BA	3,250/6,000	Joanne Jordan, Coldwell Banker
100 Dundee Lane	$1,795,000	4BR/3BA	2,520/7,996	Bob Bredel, Dwell Realtors
4 Camborne Avenue	$1,499,950	4BR/2.5BA	2,315/9,347	Donna Colangelo, Intero
1938 Brittan Avenue	$1,299,000	3BR/1BA	1,210/5,000	Josefina Junsay, Realty One

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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