The San Carlos Real Estate Week in Review: 10/23/2017.

Eye-popping closing prices made up the big story from last week in the San Carlos real estate market. Of the 9 homes that closed escrow during the past 7 days, 4 of them fetched premiums of $400,000 or more over their relative asking prices.  The average premium paid over the list price was a whopping 20%, which is about double what we normally see — and this was during period when we had an abnormally high blip in inventory! Nothing seems to be slowing this market down.

Home buyers have continued to chip away at the available inventory in San Carlos, and as of this morning there are only 11 single-family homes for sale — about 1/3 of what we had just a few weeks ago. It didn't help matters that only two new listings popped up last week, but pickings are going to be a bit slim for a while until more listings start hitting the market again.

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 10/22/2017:

San Carlos SFR Data	10/22/17	Prior Week
Closed Sales for the Week:	9	5
Average Sales Price:	$1,965,111	$1,889,600
Median Sales Price:	$1,755,000	$1,830,000
Average % Sold vs List Price:	120%	112%
Average DOM of Closed Sales	10	9
Average $/Sq Foot (Sold)	$934	$979
No. of New Listings:	2	8
Total # of Active Listings:	11	17
Average Price of Active Listings:	$2,269,803	$2,056,876
Average DOM of Active Listings:	23	17
Average $/Sq Foot (List)	$889	$890
Total # of Homes Pending Sale:	37	39
Active-Pending Ratio:	0.30 : 1	0.44 : 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)
5 Porto Marino Lane	$2,330,000	$1,898,000	+$432,000 (+22.8%)	11
90 Dartmouth Avenue	$2,250,000	$1,788,000	+$462,000 (+25.8%)	11
739 Orange Avenue	$2,210,000	$1,849,888	+$360,112 (+19.5%)	8
3230 Melendy Drive	$2,200,000	$1,749,000	+$451,000 (+25.8%)	9
101 Belvedere Avenue	$1,755,000	$1,535,000	+$220,000 (+14.3%)	7
16 Madrona Street	$1,751,000	$1,599,950	+$151,050 (+9.4%)	9
146 Rockridge Road	$1,750,000	$1,295,000	+$455,000 (+35.1%)	7
2273 Howard Avenue	$1,730,000	$1,395,000	+$335,000 (+24.0%)	8
253 Devonshire Boulevard	$1,710,000	$1,598,000	+$112,000 (+7.0%)	20

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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
1645 Elm Street	17	$1,898,000
2667 Thornhill Drive	32	$1,495,000
1320 Hull Drive	7	$1,528,000
3180 Brittan Avenue	10	$1,498,000
1343 Eaton Avenue	7	$1,733,000
2423 Saint Francis Way	7	$1,799,000
58 Club Drive	8	$1,798,000

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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
2549 San Carlos Avenue	$1,849,000	3BR/2BA	1,800/11,450	Tom Stone, Coldwell Banker
366 Oakview Drive	$1,599,950	3BR/3BA	1,920/5,500	David Blewett, Intero

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