The San Carlos Real Estate Week in Review: 9/4/2017.

Happy Labor Day weekend to everyone! For once, the real estate market wasn't the hottest topic in town as the temperatures rose to severely uncomfortable levels over the weekend. I think it's a safe bet that the percentage of homes in San Carlos that have air conditioning will notch up perceptibly after this latest heat wave.

Labor Day marks the traditional start of the fall real estate market. Understandably, the activity in the week leading up to Labor Day was relatively light as only two listings decided to their open house debuts over the holiday weekend. That in combination with the four homes that went into contract has driven the inventory down to 9 homes for sale in the entire city. And that will likely drop even further before next weekend.

But I believe this is a temporary condition, and that there will be a renewed surge in inventory as we head into September.  I have two San Carlos listings that I will be rolling out this month, and from the activity level that I see with stagers, inspectors, and other agents, I believe we are in for a very busy fall season.  So whether you plan to buy or sell between now and Thanksgiving, it would be sound advice to pay very close attention to the market in the coming weeks.

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 9/3/2017:

San Carlos SFR Data	9/3/17	Prior Week
Closed Sales for the Week:	4	3
Average Sales Price:	$1,910,688	$1,835,667
Median Sales Price:	$1,518,875	$1,607,000
Average % Sold vs List Price:	109%	114%
Average DOM of Closed Sales	25	11
Average $/Sq Foot (Sold)	$796	$1,007
No. of New Listings:	2	4
Total # of Active Listings:	9	11
Average Price of Active Listings:	$2,120,000	$1,871,818
Average DOM of Active Listings:	25	22
Average $/Sq Foot (List)	$1,047	$1,021
Total # of Homes Pending Sale:	18	18
Active-Pending Ratio:	0.50 : 1	0.61 : 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)
1340 Orange Avenue	$3,225,000	$2,980,000	+$245,000 (+8.2%)	6
3236 Brittan Avenue	$1,520,000	$1,699,000	-$179,000 (-10.5%)	28
2120 Saint Francis Way	$1,517,750	$1,148,500	+$369,250 (+32.2%)	47
2 Daffodil Lane	$1,380,000	$1,399,999	-$19,999 (-1.40%)	17

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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
1447 Alameda	10	$1,329,000
2443 San Carlos Avenue	9	$1,049,000
517 Cedar Street	93	$2,100,000
217 Clifton Avenue	31	$1,895,000

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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
55 Hilltop Drive	$3,169,000	5BR/4BA	3,384/6,818	Pete Vece, Today Sothebys
6 Cypress Court	$1,749,000	4BR/2.5BA	2,260/9,660	Bob Bredel, Dwell Realtors

(Click the “Homes For Sale” sign below to see ALL of the homes currently for Sale in San Carlos.)

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