The San Carlos Real Estate Week in Review: 2/27/2017.

Home buyers outworked the home sellers again this past week in San Carlos. Six active listings were taken into contract, which outpaced the four new listings that hit the market during the same period. This resulted in a net drop of two homes from what was already a very lean inventory list.

That means that going into this morning, there are only seven single-family homes and one condo for sale in all of San Carlos…which is not nearly enough for home buyers to work with. Buyers will need to contend with continued upward price pressure until any kind of significant inventory can be established.

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 2/26/2017:

San Carlos SFR Data	2/26/17	Prior Week
Closed Sales for the Week:	6	5
Average Sold Price:	$2,160,405	$1,527,000
Average % of List Price:	99%	110%
Average DOM of Closed Sales	38	9
Average $/Sq Foot (Sold)	$1,197	$1,058
No. of New Listings:	4	5
Total # of Active Listings:	7	9
Average Price of Active Listings:	$1,788,143	$1,504,211
Average DOM of Active Listings:	8	8
Average $/Sq Foot (List)	$853	$881
Total # of Homes Pending Sale:	20	19
Active-Pending Ratio:	0.35 : 1	0.47 : 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)
86 Madrona Street	$3,235,000	$3,950,000	-$715,000 (-18.1%)	100
596 Club Drive	$2,820,000	$3,400,000	-$580,000 (-17.1%)	57
156 Plymouth Avenue	$2,487,430	$2,500,000	-$12,570 (-0.5%)	0
1348 Cedar Street	$1,930,000	$2,100,000	-$170,000 (-8.1%)	53
102 Palm Avenue	$1,450,000	$1,249,000	+$201,000 (+16.1%)	10
941 Holly Street	$1,040,000	$848,000	+$192,000 (+22.6%)	8

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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
1671 Hull Drive	8	$1,348,000
1616 Chestnut Street	8	$1,645,000
136 Club Drive	22	$1,399,950
1643 Alameda de las Pulgas	9	$849,950
1016 Inverness Drive	13	$1,249,000

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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
154 Garnet Avenue	$1,995,000	4BR/2.5BA	2,250/5,290	Annette Smith, Dreyfus Sothebys
2909 Franciscan Court	$1,788,000	4BR/2BA	2,280/9,006	Miriam Chirko, Coldwell Banker
2711 San Miguel Way	$1,539,000	4BR/2BA	1,800/8,400	Len Moore, Vilmont Investment Properties
172 Lyndhurst Avenue	$1,398,000	3BR/2BA	1,660/7,425	Stanley Lo, Green Banker

 

(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)
10 Chicory Lane	$1,380,000	$1,251,521	+$128,479 (10.3%)	11

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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
1 Sorrel Lane	15	$1,180,000

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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
728 Elm Street #108	$769,000	2BR/2BA	1,124	Daniel Joe, Terrace Realty

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 source1