The San Carlos Real Estate Week in Review: 9/25/2017.

The pipeline of single-family home listings continued to gush almost unabated again last week in San Carlos. Another 12 listings were put into the fray, which brought the total for September 2017 up to 42.  This is the largest number of listings for any September since 2008, and there's still a full week left in the month!

Last week we questioned how the buying population would react to the sudden influx of new listings.  When this very same thing happened in March of 2016, it noticeably cooled the market down for the better of that year.  But so far in September, this has not been the case. There were actually more homes to go pending last week (13) than there were new listings (12), and many of these deals reported strong multiple offers. So there's still a lot of money flying around in this market.

But that does not mean that everything that's listed is going to sell. Despite the strong sales this past week, our inventory is still sitting at 26 homes, which is considerably higher than recent levels.  When the inventory of homes spikes like this, it's the “fringe” homes that tend to suffer the most.  Those are the homes that are in less desirable condition, location, or price range than the core of the market. Buyers are less likely to settle for less when they believe that more desirable inventory may be coming on line. So the normal rules that apply to making your house as attractive as possible to buyers are more important than ever now.

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 9/24/2017:

San Carlos SFR Data	9/24/17	Prior Week
Closed Sales for the Week:	3	5
Average Sales Price:	$1,753,333	$1,734,100
Median Sales Price:	$1,700,000	$1,700,000
Average % Sold vs List Price:	117%	101%
Average DOM of Closed Sales	15	39
Average $/Sq Foot (Sold)	$1,119	$1,028
No. of New Listings:	12	17
Total # of Active Listings:	26	22
Average Price of Active Listings:	$1,761,496	$1,837,357
Average DOM of Active Listings:	10	22
Average $/Sq Foot (List)	$930	$993
Total # of Homes Pending Sale:	30	21
Active-Pending Ratio:	0.87 : 1	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)
217 Clifton Avenue	$1,950,000	$1,895,000	+$55,000 (+2.9%)	31
40 Amber Court	$1,800,000	$1,750,000	+$50,000 (+2.9%)	6
2443 San Carlos Avenue	$1,510,000	$1,049,000	+$461,000 (+43.9%)	9

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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
858 Orange Avenue	13	$1,450,000
1412 Howard Avenue	9	$1,589,000
3230 Melendy Drive	9	$1,749,000
270 Dartmouth Avenue	9	$1,698,000
870 Sunset Drive	0	$1,699,000
2139 Greenwood Avenue	14	$2,998,000
3210 Brittan Avenue	10	$1,499,950
146 Rockridge Road	7	$1,295,000
2333 Howard Avenue	8	$1,475,000
119 Oakview Drive	8	$1,475,000
16 Madrona Street	9	$1,599,950
135 Lynton Avenue	102	$2,595,000
942 Montgomery Street	4	$899,000

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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
813 Rutherdale Avenue	$2,300,000	4BR/3BA	2,660/8,820	Donna Colangelo, Intero
860 Crestview Drive	$1,895,000	4BR/3BA	2,000/12,371	David Young, Coldwell Banker
1382 Geneva Avenue	$1,798,000	3BR/2BA	1,810/5,920	John Shroyer, Today Sothebys
1180 Elm Street	$1,698,000	3BR/2BA	1,650/4,800	Brian Ayer, Golden Gate Sothebys
108 Windsor Drive	$1,669,000	3BR/3BA	1,890/6,005	Vic Aenlle, Coldwell Banker
1091 Porto Marino Drive	$1,598,000	4BR/3BA	2,350/12,600	Doug Gonzalez, Coldwell Banker
668 Dartmouth Avenue	$1,588,000	3BR/2BA	2,020/6,132	Sharon Kariya, Coldwell Banker
101 Belvedere Avenue	$1,535,000	3BR/1.5BA	1,670/6,600	Laura Bertolacci, Dwell Realtors
1817 Brittan Avenue	$1,498,000	3BR/2BA	1,700/6,000	Alan Wang, Keller Williams
2273 Howard Avenue	$1,395,000	3BR/2BA	1,380/4,920	Susan Woods, Coldwell Banker
942 Montgomery Street	$899,000	2BR/1BA	910/5,000	Anthony Ciardella, Beale Properties
1018 Montgomery Street	$895,000	2BR/1BA	830/2,500	Scott Brady, MultiSource

 

(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)
655 Prospect Street	$1,100,000	$998,000	+$112,000 (+11.2%)	7
3352 La Mesa Drive #7	$875,000	$875,000	$0(0%)	0

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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
3347 Brittan Avenue #1	13	$879,000
101 Elm Street #202	12	$899,000

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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
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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 no way responsible for the accuracy of the data from this source.