The San Carlos Real Estate Week in Review: 1/9/2017.

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:

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
—	$–	—	—	—

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