The San Carlos Real Estate Week in Review: 6-28-15.
June 29, 2015
There's no doubt about it – the real estate market in San Carlos has certainly cooled down a bit over the past two weeks. The attendance at open houses has been lighter, and homes that are on the market now don't seem to be getting the frenzied response they might have gotten only a month or so ago.
The numbers reflect this slowdown as well. The average days on the market (DOM) of all active single-family residence listings in San Carlos is now at 19 days — certainly not an eternity for most real estate markets, but probably the longest we've seen all year in our local market.
Much of this may be attributed to the traditional seasonal slowing that has been discussed numerous times in this weekly post. But we will be closely watching the market over the summer months to see if there isn't more to this trend. After 3+ years of breakneck growth, there are those who believe the market is due to level off in the coming months as the economic growth tapers, and interest rates finally start to climb.
This reduced competition presents a golden opportunity for buyers who are still diligently looking for a home during the summer months. It's going to be an interesting summer…
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 6-28-2015:
| San Carlos Housing Data | 6-28-15 | Prior Week |
|---|---|---|
| Closed Sales for the Week: | 2 | 7 |
| Average Sold Price: | $1,605,000 | $1,257,857 |
| Average $/Sq Foot (Sold) | $763 | $783 |
| Average Sold as Percentage Of List Price: | 113% | 118% |
| Average DOM of Closed Sales | 55 | 17 |
| No. of Homes Pending Sale: | 22 | 20 |
| No. of New Listings: | 4 | 4 |
| Total # of Active Listings: | 11 | 11 |
| Average Price of Active Listings: | $1,910,535 | $1,846,727 |
| Average DOM of Active Listings: | 19 | 16 |
| Average $/Sq Foot (List) | $737 | $711 |
| Active-Pending Ratio: | 0.50 : 1 | 0.55 : 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 |
|---|---|---|---|---|
| 32 Camborne Avenue | $1,900,000 | $1,699,950 | +$200,050 (+11.8%) | 9 |
| 1385 Alameda de las Pulgas | $1,310,000 | $1,150,000 | +$160,000 (+13.9%) | 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.
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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 |
|---|---|---|
| 54 Madera Avenue | 13 | $1,498,000 |
| 174 Ruby Avenue | 7 | $1,198,000 |
| 1026 Alameda de las Pulgas | 13 | $975,000 |
| 527 Hillcrest Road | 8 | $1,398,000 |
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. _______________________________________________________________________________________
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 |
|---|---|---|---|---|
| 205 Glasgow Lane | $2,395,000 | 4BR/3BA | 2,430/12,141 | Bob Bredel, Dwell Realtors |
| 235 Lemoore Drive | $1,588,888 | 3BR/2BA | 2,030/7,424 | Debbie Wong, Better Homes |
| 2220 San Carlos Avenue | $899,000 | 3BR/2BA | 1,940/6,500 | Val Vandervort, Keller Williams |
| 127 Chesham Avenue | $888,000 | 2BR/1BA | 959/5,700 | Nathan Nunes, Better Homes |
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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