The San Carlos Real Estate Week in Review: 3/28/2016.
March 28, 2016
The Scoop.
The Easter weekend had the expected dampening effect on new listings in San Carlos. Only one new home tested the market last week, since most home sellers wisely avoid Easter Sunday as their debut to the market. I fully expect that the pace of new listings will pick up considerably this week, especially the latter part leading into the open house weekend.
Home buyers were not deterred by the holiday weekend, however. Six homes went into contract last week, thus dropping our inventory back down to the mid-teens. Interestingly, two of these listings required reductions from their original list price in order to sell. This has become a more common occurrence in San Carlos the past few weeks, and it's indicative of a market that is a bit more fickle and choosy than perhaps it was at this time last year. It will be interesting to see if this trend continues now that we are in the thick of the Spring market.
Here is a look at last week's numbers:
The 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 3/27/2016:
| San Carlos Housing Data | 3/27/16 | Prior Week |
|---|---|---|
| Closed Sales for the Week: | 1 | 3 |
| Average Sold Price: | $1,510,000 | $1,568,333 |
| Average $/Sq Foot (Sold) | $1,228 | $891 |
| Average Sold as Percentage Of List Price: | 117% | 103% |
| Average DOM of Closed Sales | 12 | 6 |
| Total # of Homes Pending Sale: | 17 | 12 |
| No. of New Listings: | 1 | 6 |
| Total # of Active Listings: | 14 | 20 |
| Average Price of Active Listings: | $2,203,280 | $2,023,299 |
| Average DOM of Active Listings: | 27 | 18 |
| Average $/Sq Foot (List) | $839 | $844 |
| Active-Pending Ratio: | 0.8 : 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.
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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) |
|---|---|---|---|---|
| 1316 Rosewood Avenue | $1,510,000 | $1,288,000 | +$222,000 (+17.2%) | 12 |
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.
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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 |
|---|---|---|
| 2634 Graceland Avenue | 12 | $2,688,000 |
| 2601 Melendy Drive | 13 | $1,525,000 |
| 51 Bayport Court | 7 | $1,388,000 |
| 1324 Cordilleras Avenue | 9 | $1,250,000 |
| 2411 Graceland Avenue | 21 | $1,275,000 |
| 400 Devonshire Boulevard | 26 | $1,750,000 |
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 |
|---|---|---|---|---|
| 1408 Crestview Drive | $1,824,950 | 4BR/2.5BA | 2,650/11,466 | Donna Colangelo, 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.
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