The San Carlos Real Estate Week in Review: 3/21/2016.
March 21, 2016
For the second straight week, a strong push in new listings has lifted the inventory of single-family homes for sale in San Carlos upward. With 7 new listings hitting the market last week and only 4 going into contract, there are now 20 single-family homes for sale in San Carlos. While this is still certainly a fraction of what we would normally see at this time of year, it's still at a level that we haven't crossed in quite a few months. Inventory has languished in teens for so long that it seems noteworthy when it crosses the 20-mark.
The condo and townhouse inventory is also growing significantly. As of this morning, there are 11 units for sale across San Carlos, and more coming online this week. Again, this is not a staggering number by historical standards, but when you consider that only 3 weeks ago there was not a single unit for sale, this marks a significant upward push in new inventory.
The continued push in listings may take a temporary breather this week, however, since Easter Sunday is this coming weekend. It's one of those years where Easter actually falls within March. But regardless of when Easter falls, it's always a tough weekend to have the first open house since a big portion of the buying population is preoccupied that weekend. Because of this, some sellers may opt to wait an additional week.
The other noteworthy statistic this week is that the average asking price of a single-family home in San Carlos has once again crossed the $2,000,000 mark (this calculation even excludes the $19M listing on Alameda, since that would really skew the data.) This is certainly helped by the fact that 3 of the 7 new listings to debut this past week are asking over $2M.
Home sellers in San Carlos (and their agents) are obviously growing more comfortable with listing their homes above $2,000,000. At this time in 2015, only 5% of the homes that listed since the beginning of the year started at a price above $2,000,000.
So far in 2016 with roughly the same number of listings, that number is a whopping 27%. That's some serious price growth in just one year.
Here is a look at last week's numbers:
Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 3/20/2016:
|San Carlos Housing Data||3/20/16||Prior Week|
|Closed Sales for the Week:||3||4|
|Average Sold Price:||$1,568,333||$1,695,000|
|Average $/Sq Foot (Sold)||$891||$852|
|Average Sold as Percentage Of List Price:||103%||96%|
|Average DOM of Closed Sales||6||27|
|Total # of Homes Pending Sale:||12||10|
|No. of New Listings:||6||5|
|Total # of Active Listings:||20||17|
|Average Price of Active Listings:||$2,023,299||$1,989,727|
|Average DOM of Active Listings:||18||19|
|Average $/Sq Foot (List)||$844||$814|
|Active-Pending Ratio:||1.7 : 1||1.7 : 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.
San Carlos Single-Family Homes Sold:
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||DOM (days)|
|184 Lyndhurst Avenue||$1,745,000||$1,549,950||+$195,050 (+12.6%)||9|
|1124 Royal Lane||$1,510,000||$1,510,000||$0 (0%)||0|
|2348 Howard Avenue||$1,450,000||$1,495,000||-$45,000 (-3.0%)||8|
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. The source of this data is the Multiple Listing Service (MLS). Author is in now way responsible for the accuracy of the data from this source.
San Carlos Single-Family Homes Pending Sale:
The following single-family homes went into contract in San Carlos this past week. Click on the address of each home to see more details and photos:
|Address||DOM (days)||List Price|
|190 Dolton Avenue||32||$2,475,000|
|1552 Chestnut Street||10||$1,395,000|
|541 Vista Avenue||13||$1,529,950|
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|
|150 Dolton Avenue||$2,750,000||4BR/2.5BA||3,360/19,166||Mark Martinho, Vabrato|
|293 Club Drive||$2,295,000||4BR/3BA||2,499/65,000||Alex Lehr, Lehr Real Estate|
|2866 Roland Avenue||$2,278,000||4BR/4BA||2,499/6,000||Laura Bertolacci, Dwell Realtors|
|125 Chestnut Street||$1,650,000||3BR/2BA||1,920/6,325||Christine Morgan, RE/MAX|
|2608 Thornhill Drive||$1,395,000||4BR/2.5BA||1,720/5,602||Bryan Jacobs, RealSmart Properties|
|51 Bayport Court||$1,388,000||4BR/3BA||1,830/5,358||Gina Haggarty, RealSmart Properties|
|1324 Cordilleras Avenue||$1,250,000||2BR/1BA||1,170/6,000||Orla Sater, Intero|
Note: The listing data provided above is strictly for informational purposes only, and should not imply that the author is the listing agent. This data is pulled from the Multiple listing service, and the author is in no way responsible for the accuracy of the data provided herein.
(Click the “Homes For Sale” sign below to see ALL of the homes currently for Sale in San Carlos.)
Condos and Townhomes Sold in San Carlos:
Below are the condos/townhouses that closed escrow this past week. Click on the address of each home to see more details and photos.
|Address||Sold Price||Orig. List||Difference||DOM (days)
|28 Tulip Lane||$1,234,500||$1,249,000|| -$14,500 (-1.2%)
|3335 La Mesa Drive #3||$617,000||$597,000|| +$20,000 (+3.4%)
Condo/Townhouse Pending Sale this Week.
The following condos/townhouses went into contract this week. Click on the address of each home to see more details and photos.
|Address||DOM (days)||List Price|
|1700 San Carlos Avenue #101||20||$649,000|
New Condo/Townhouse Listings in San Carlos:
The following condo/townhouses listed this past week. Click on the address of each home to see more details and photos.
|Address||List Price||BR/BA||Sq Feet||Listed By|
|656 Walnut Street #402||$1,300,000||2BR/2BA||1,688||Steve Pierce, Zane MacGregor|
|1625 San Carlos Avenue #A||$1,299,000||3BR/3BA||2,030||Anna Karpie, Keller Williams|
|4 Marigold Lane||$1,295,000||2BR/2.5BA||2,040||Eddie Azzopardi, Realty World|
|633 Elm Street #118||$949,000||2BR/2BA||1,096||Anthony Reeser, Grobecker Real Estate|
|3376 La Mesa Drive #5||$719,000||2BR/2BA||1,040||Laura Bertolacci, Dwell Realtors|
|775 Chestnut Street #17||$614,000||1BR/1BA||903||Laura Bertolacci, Dwell Realtors|
(The “San Carlos Week in Review” series is a summary of new listings and home sales in San Carlos for the prior week.)