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