The San Carlos Real Estate Week in Review: 10/10/2016.

October 10, 2016

What a difference a week makes! Just a week ago when we were looking at these numbers we were sitting on at least 20 homes for sale for the third consecutive week, as sellers were putting their homes on the market in waves. Suddenly, last week the pipeline dried up with only one listing hitting the market. But home buyers remained very active, snapping up eight homes out of the inventory, and suddenly we wake up on Monday morning with an inventory of 12 single family homes for sale in all of San Carlos. This is the lowest level we have hit in quite a few weeks, and is a jarring reminder how quickly the tide can turn in this market. It's conceivable that this number could drop below 10 before the end of the week.

The inventory of townhouses and condos nearly matches the level of single-family homes, which is somewhat of a rarity considering the sheer disparity in the number of each in San Carlos. It was also interesting to note that all three townhouses that closed escrow this week had to take price reductions in order to sell. That's also not something we are accustomed to seeing in this 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 (SFR) in San Carlos. This data is for the 7-day period ending Sunday 10/9/2016:

San Carlos SFR Data 10/9/16 Prior Week
Closed Sales for the Week: 7 3
Average Sold Price: $1,773,571 $1,797,650
Average $/Sq Foot (Sold) $938 $820
Average % List Price: 106% 103%
Average DOM of Closed Sales 10 13
Total # of Homes Pending Sale: 32 31
No. of New Listings: 1 5
Total # of Active Listings: 12 20
Average Price of Active Listings: $2,179,158 $1,866,520
Average DOM of Active Listings: 26 17
Average $/Sq Foot (List) $814 $822
Active-Pending Ratio: 0.38 : 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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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)
840 Bauer Court $2,475,000 $2,580,000 -$105,000 (-4.1%) 12
8 El Sereno Drive $2,150,000 $1,998,000 +$152,000 (+7.6%) 13
151 Windsor Drive $1,800,000 $1,799,000 +$1,000 (+0.0%) 9
225 Alberta Avenue $1,700,000 $1,698,000 +$2,000 (+0.1%) 9
79 Wessex Way $1,680,000 $1,349,999 +$330,001 (+0.1%) 13
2428 San Carlos Avenue $1,345,000 $1,288,000 +$57,000 (+0.7%) 10
1525 Greenwood Avenue $1,265,000 $1,150,000 +$115,000 (+10.0%) 9

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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
529 Sycamore Street 11 $1,300,000
1833 Brittan Avenue 18 $998,000
1381 Alameda de las Pulgas 14 $1,475,00
1300 Magnolia Avenue 11 $1,498,000
274 Vine Street 4 $1,549,000
924 Elm Street 27 $1,650,000
1436 Cordilleras Avenue 22 $1,249,500
2444 San Carlos Avenue 9 $1,149,000

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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
1079 Hewitt Drive $1,468,000 3BR/2BA 1,650/8,590 Dan McGuire, Broker

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