The San Carlos Real Estate Week in Review: 10/30/2017.

For the second week in a row, we are seeing the results of the unprecedented listing surge we experienced in San Carlos in September. There were 13 homes that changed hands last week, and while it wasn't at the 20% average premium that we saw two weeks ago, they still fetched an impressive 10% lift over the asking price. This is still an amazing feat when one considers how many listings were on the market at this time in September, and how fast things were changing.

Activity was surprisingly slow otherwise in the San Carlos real estate market.  Only one new listing hit the market, and buyers only put two homes into contract, which effectively dropped the inventory of available homes down to 10. But even more interesting is that a full 40% of the is available inventory has been sitting for over 3 weeks, while another 40% is sitting right around 2 weeks.  The average number of days on the market for all listings in San Carlos is sitting at 22 days, which is a number we're not accustomed to seeing. Either buyers are thumbing their collective noses at what's currently on the market, or they're turning their attention away from home buying now that we're almost into November. This next week should tell us quite a bit about which is truly is.

The condo and townhouse market in San Carlos has been virtually non-existent the past two weeks. Currently, there is only one unit for sale in the entire city!

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 10/29/2017:

San Carlos SFR Data	10/29/17	Prior Week
Closed Sales for the Week:	13	9
Average Sales Price:	$1,849,823	$1,965,111
Median Sales Price:	$1,750,000	$1,755,000
Average % Sold vs List Price:	110%	120%
Average DOM of Closed Sales	9	10
Average $/Sq Foot (Sold)	$988	$934
No. of New Listings:	1	2
Total # of Active Listings:	10	11
Average Price of Active Listings:	$2,192,984	$2,269,803
Average DOM of Active Listings:	22	23
Average $/Sq Foot (List)	$894	$899
Total # of Homes Pending Sale:	26	37
Active-Pending Ratio:	0.38 : 1	0.30 : 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)
1028 Rosewood Avenue	$2,705,000	$2,598,000	+$107,000 (+4.1%)	4
3426 Brittan Avenue	$2,475,000	$2,295,000	+$180,000 (+7.8%)	14
1648 Walnut Street	$2,216,000	$2,198,000	+$18,000 (+0.8%)	12
860 Crestview Drive	$2,000,000	$1,895,000	+$105,000 (+5.5%)	9
870 Sunset Drive	$1,800,000	$1,699,000	+$101,000 (+5.9%)	9
1412 Howard Avenue	$1,765,000	$1,589,000	+$176,000 (+11.1%)	9
668 Dartmouth Avenue	$1,750,000	$1,588,000	+$162,000 (+10.2%)	9
108 Windsor Drive	$1,750,000	$1,669,000	+$81,000 (+4.9%)	13
858 Orange Avenue	$1,700,000	$1,450,000	+$250,000 (+17.2%)	13
255 Ruby Avenue	$1,661,700	$1,448,000	+$213,700 (+14.8%)	9
2472 San Carlos Avenue	$1,525,000	$1,398,000	+$127,000 (+9.1%)	13
2333 Howard Avenue	$1,500,000	$1,475,000	+$25,000 (+1.7%)	8
942 Montgomery Street	$1,200,000	$899,000	+$301,000 (+33.5%)	4

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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
1031 Sunset Drive	41	$1,248,000
452 Wellington Drive	13	$1,688,000

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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
2642 San Carlos Avenue	$1,595,000	3BR/2BA	1,570/11,450	Cheryl Price, Alain Pinel Realtors

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