The San Carlos Real Estate Week in Review: 1/9/2017.
January 10, 2017
The first full week of the new year did not bring a tidal wave (or even a minor swell) of new listings in San Carlos, as I thought it might. But I still believe that we will start to aggressively build back up the inventory of homes in San Carlos and surrounding communities in January and February, as home sellers start to look at the year that was 2016 and realize that prices indeed leveled off along the Peninsula. As I stated in this article from The Daily Journal, the rate of growth in home prices definitely tapered off from 2015-2016, compared to years of double-digit appreciation in home prices for much of the past decade. This is not to say that home prices are dropping — it simply means that the astronomical year-over-year gains that we have grown accustomed to are giving way to a more balanced real estate market, which will certainly change how we approach the market going forward.
I will outline some of these changes in a presentation that I will post on the site in the next few weeks. The numbers always tell an interesting story, and these are no different. For now, buckle in and get ready for an eventful 2017.
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 1/8/2017:
| San Carlos SFR Data | 1/8/17 | Prior Week |
|---|---|---|
| Closed Sales for the Week: | 2 | 2 |
| Average Sold Price: | $2,892,500 | $1,793,500 |
| Average % List Price: | 94% | 111% |
| Average DOM of Closed Sales | 37 | 9 |
| Average $/Sq Foot (Sold) | $768 | $950 |
| No. of New Listings: | 0 | 0 |
| Total # of Active Listings: | 2 | 1 |
| Average Price of Active Listings: | $2,449,750 | $2,888,000 |
| Average DOM of Active Listings: | 34 | 42 |
| Average $/Sq Foot (List) | $1,495 | $828 |
| Total # of Homes Pending Sale: | 7 | 10 |
| Active-Pending Ratio: | 0.29 : 1 | 0.1: 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 Residences Sold:
138 Queens Court
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) |
|---|---|---|---|---|
| 138 Queens Court | $3,950,000 | $4,095,000 | -$145,000 (-3.5%) | 15 |
| 3313 Melendy Drive | $1,835,000 | $1,998,000 | -$163,000 (-8.2%) | 59 |
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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 |
|---|---|---|
| — | — | $– |
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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 |
|---|---|---|---|---|
| — | $– | — | — | — |
(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) |
|---|---|---|---|---|
| 26 Buttercup Lane | $1,195,000 | $1,100,000 | -$95,000 (-7.9%) |
68 |
| 408 Portofino Drive #4 | $1,028,000 | $1,028,000 | $0 (0%) |
30 |
| 3327 La Mesa Drive #8 | $830,000 | $829,000 | +$1,000 (+0.1%) |
94 |
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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 |
|---|---|---|
| 3319 La Mesa Drive #12 | 12 | $829,000 |
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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 |
|---|---|---|---|---|
| 757 Elm Street #8 | $775,000 | 2BR/1BA | 882 | Joyce Romeo, Dwell Realtors. |
Disclaimer: The “San Carlos Week in Review” series is a summary of new listings and home sales in San Carlos for the prior week. The data provided in this report is strictly for informational purposes only, and should not imply that the author was involved in either side of the transaction unless explicitly stated otherwise. The source of this data is the Multiple Listing Service (MLS), so the author is in now way responsible for the accuracy of the data from this source.
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