The San Carlos Real Estate Week in Review: 6/27/2016.

The Scoop.

The first half of 2016 will wrap up this week, and it has been another very interesting start to the real estate year.  But interesting is simply par for the course for the real estate market in San Carlos. While home prices have continued to push to all-time highs, there is clearly a sign that the market is starting to push back on what has seemed like unabated growth for the past 5 years. We will touch on many of these stats in the half-yearly wrap up later this week.

One of the statistics that we will look at is the number of price reductions that have occurred in the local market, which has increased significantly this year compared to 2015. Looking at this past week as an example, two homes had to take significant price reductions to sell, while three others were only able to fetch the asking price. That's quite a bit different from the normal 7-10% lift over the asking price that we've grown accustomed to seeing. More to follow on these trends…

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 6/26/2016:

San Carlos Housing Data	6/26/16	Prior Week
Closed Sales for the Week:	9	7
Average Sold Price:	$1,683,833	$1,949,286
Average $/Sq Foot (Sold)	$841	$956
Average Sold as Percentage Of List Price:	99%	107%
Average DOM of Closed Sales	19	10
Total # of Homes Pending Sale:	32	33
No. of New Listings:	6	8
Total # of Active Listings:	23	24
Average Price of Active Listings:	$1,993,249	$1,846,447
Average DOM of Active Listings:	30	30
Average $/Sq Foot (List)	$883	$875
Active-Pending Ratio:	0.72 : 1	0.73 : 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)
2866 Roland Avenue	$2,300,000	$2,278,000	+$22,000 (+1.0%)	33
128 Hillcrest Road	$2,149,000	$2,149,000	$0 (+0%)	14
417 Sycamore Street	$1,900,000	$1,699,000	+$201,000 (+11.8%)	7
131 Coronado Avenue	$1,749,000	$1,749,000	$0 (+0%)	27
115 Los Vientos Way	$1,670,000	$2,199,000	-$529,000 (-24.1%)	27
1567 Greenwood Avenue	$1,560,000	$1,488,888	+$71,112 (+4.8%)	19
1338 Woodland Avenue	$1,491,500	$1,600,000	-$108,500 (-6.8%)	33
1363 Chestnut Street	$1,235,000	$1,195,000	+$40,000 (+3.3%)	12
1028 Inverness Drive	$1,100,000	$1,100,000	$0 (+0%)	0

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
163 Los Vientos Way	103	$3,300,000
1341 Alameda de las Pulgas	84	$1,355,000
2424 San Carlos Avenue	14	$1,149,950
3 Graceland Avenue	8	$1,598,000
1044 Hewitt Drive	23	$1,749,000
115 Northam Avenue	7	$1,595,000
1460 Cordilleras Avenue	36	$1,698,000
2230 Saint Francis Way	1	$1,299,000

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
840 Bauer Court	$2,580,000	4BR/3.5BA	2,550/13,700	Teresa Lin, Coldwell Banker
833 Cordilleras Avenue	$2,495,000	5BR/3.5BA	2,767/7,897	Joyce and Tatum, Dwell Realtors
2108 Eaton Avenue	$1,950,000	4BR/3BA	2,690/6,151	Sam Kaykin, Today Sothebys
3251 La Mesa Drive	$1,899,950	4BR/2BA	2,151/17,498	David Blewett, Intero
154 Garnet Avenue	$1,850,000	4BR/2.5BA	2,250/5,290	Annette Smith, Dreyfus Sothebys
2230 Saint Francis Way	$1,299,000	3BR/1BA	1,360/5,502	Tom Stone, Coldwell Banker

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.)

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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)
2 Sorrel Lane	$1,200,000	$1,128,000	+$72,000 (+6.4%)	13
731 Chestnut Street #104	$945,000	$880,000	+$65,000 (+7.4%)	16

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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
222 Laurel Street #106	9	$389,000

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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
2 Tulip Lane	$1,398,000	2BR/2BA	1,990	Eddie Azzopardi, Realty World
641 Cedar Street #303	$1,328,000	3BR/2BA	1,988	Denise Villeneuve, Intero
3358 La Mesa Drive #11	$849,000	2BR/2BA	1,040	Sean Clar, RE/MAX

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(The “San Carlos Week in Review” series is a summary of new listings and home sales in San Carlos for the prior week.)