The San Carlos Real Estate Week in Review: 3/20/2017.
March 20, 2017
Another very strong week of real estate sales is in the books for San Carlos. Clearly, the market is forging ahead despite (or perhaps because of) the Federal Reserve's decision to bump the prime rate up again. If you were watching the rates closely, you would have noticed that the interest rates on home mortgages hardly budged when the announcement was made. That's because lenders already anticipated this move, and had it baked into their current rates. But the specter of an upward trend in interest rates seems to have lit a fire under the backside of home buyers. There were six single-family homes that went pending this week, and if you pay attention to this weekly post in the coming weeks and see where some of these home will ultimately close, you'll understand what I am referring to. There were some very strong offers that were accepted this week.
Inventory remains a challenge for home buyers in most of the communities along the Peninsula. San Carlos still only has 10 homes for sale as of last night, and Belmont only has 8 homes on the market. That in itself is creating an environment of aggressive over-bidding that's only going to subside when (or if) the inventory increases enough to alleviate some of this pressure. The next few weeks should be very interesting on that front.
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 3/19/2017:
San Carlos SFR Data | 3/19/17 | Prior Week |
---|---|---|
Closed Sales for the Week: | 7 | 6 |
Average Sold Price: | $1,663,698 | $1,986,167 |
Average % of List Price: | 108% | 112% |
Average DOM of Closed Sales | 9 | 10 |
Average $/Sq Foot (Sold) | $1,062 | $941 |
No. of New Listings: | 5 | 7 |
Total # of Active Listings: | 10 | 11 |
Average Price of Active Listings: | $2,194,195 | $1,789,000 |
Average DOM of Active Listings: | 14 | 11 |
Average $/Sq Foot (List) | $938 | $901 |
Total # of Homes Pending Sale: | 19 | 19 |
Active-Pending Ratio: | 0.53 : 1 | 0.58 : 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) |
---|---|---|---|---|
2031 Birch Avenue | $2,125,000 | $2,198,000 | -$73,000 (-3.3%) | 3 |
1333 Cordilleras Avenue | $2,038,888 | $1,828,000 | +$210,888 (+11.5%) | 12 |
240 Bay View Drive | $1,821,000 | $1,625,000 | +$196,000 (+12.1%) | 8 |
105 Manor Drive | $1,650,000 | $1,498,000 | +$152,000 (+10.1%) | 11 |
136 Club Drive | $1,375,000 | $1,399,950 | -$24,950 (-1.8%) | 22 |
1340 Hull Drive | $1,333,000 | $1,295,000 | +$38,000 (+2.9%) | 22 |
1425 Arroyo Drive | $1,303,000 | $1,050,000 | +$253,000 (+24.1%) | 0 |
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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 |
---|---|---|
28 Fay Avenue | 10 | $1,099,000 |
1041 Cherry Street | 3 | $988,000 |
104 Dundee Lane | 8 | $2,398,000 |
967 McCue Avenue | 7 | $1,199,000 |
1058 Montgomery Street | 10 | $849,000 |
113 Oakview Drive | 8 | $1,550,000 |
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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 |
---|---|---|---|---|
236 Alberta Avenue | $2,848,000 | 6BR/4BA | 3,580/8,800 | Shirley Kraus, Intero |
361 Chesham Avenue | $2,499,950 | 3BR/2BA | 1,530/8,712 | Donna Colangelo, Intero |
293 Club Drive | $2,150,000 | 4BR/3BA | 2,200/65,000 | Monique Lombardelli, Modern Homes |
205 Highland Avenue | $1,549,000 | 3BR/2.5BA | 1,680/6,288 | Irene Weisman, Keller Williams |
1049 Sunset Drive | $1,299,000 | 3BR/3BA | 2,050/5,500 | Robert Miller, Excel Realty |
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Either something is wrong with your website or something is wrong with my iPad. Whenever I look at your open house page I get a map of somewhere else, either Arizona or San Diego area. Also it says no open houses currently. It has been doing this for a couple of weeks now…
Thank you SO MUCH for letting me know about that! I had no idea it was pointing the map to Arizona! It should be fixed now, but please let me know you’re encountering any problems.
Chuck,
No problem. I enjoy your blog and always check it so I know what’s going on in our area as far as real estate is concerned. Just sorry I waited so long to call it to your attention.