The San Carlos Real Estate Week in Review: 5/28/2018.

Happy Memorial Day!  I hope everyone takes some time today to enjoy the stellar weather, and to reflect on what today is truly all about.

The general feeling of malaise in the local real estate market continued in the week heading into Memorial Day Weekend.  While the closed sales figures below convey a robust sales environment, it's important to remember that these are contracts that were executed 21-30 days ago, and they belie the sudden slowdown in activity that we've seen over the past two weeks. Some of this is to be expected this time of year with graduations, weddings, and vacation plans.  And there's always a certain amount of “buyer fatigue” that sets in around the month of May as buyers who have been battling for a home since January simply hit the wall put their home search on hold for the summer.

Whatever the reason, the activity over the past two weeks has been slower than normal. Only two new listings entered the market, and four homes went into contract.  The average number of days on the market for active listings has now jumped up to 38 days, a figure which is slightly skewed by two listings that have languished for over 90 days on the market, but nevertheless confirm a somewhat stagnant behavior in the market.

This activity this coming week should provide us with a pretty good indication as to whether the slowdown is something that is just seasonal, or perhaps the sign of larger changes in the marketplace.

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 5/27/2018:

San Carlos SFR Data	5/27/18	Prior Week
Closed Sales for the Week:	10	5
Average Sales Price:	$1,832,800	$2,241,167
Median Sales Price:	$1,739,000	$2,230,000
Average % Sold vs List Price:	114%	109%
Average DOM of Closed Sales	8	12
Average $/Sq Foot (Sold)	$1,186	$1,036
No. of New Listings:	2	7
Total # of Active Listings:	15	17
Average Price of Active Listings:	$2,360,611	$2,309,533
Average DOM of Active Listings:	38	29
Average $/Sq Foot (List)	$1,004	$1,017
Total # of Homes Pending Sale:	24	30
Active-Pending Ratio:	0.71: 1	0.57 : 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	$/Sq foot	DOM (days)
1985 Eaton Avenue	$2,575,000	$2,575,000	$0 (0%)	$1,922	0
15 Anchor Lane	$2,350,000	$1,997,000	+$353,000 (+17.7%)	$1,004	18
718 Cedar Street	$1,965,000	$1,599,000	+$366,000 (+22.9%)	$1,116	6
1801 Elm Street	$1,900,000	$1,650,000	+$250,000 (+15.2%)	$1,275	0
1107 Royal Lane	$1,790,000	$1,679,000	+$111,000 (+6.6%)	$622	1
907 Montgomery Street	$1,688,000	$1,388,000	+$300,000 (+21.6%)	$948	12
761 Orange Avenue	$1,650,000	$1,448,750	+$201,250 (+13.9%)	$1,366	6
305 Arundel Road	$1,600,000	$1,399,000	+$201,000 (+14.4%)	$935	21
996 Springfield Drive	$1,560,000	$1,289,000	+$271,000 (+21.0%)	$1,300	8
1015 Holly Street	$1,250,000	$1,025,000	+$225,000 (+22.0%)	$1,374	12

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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
741 Tamarack Avenue	11	$1,599,950
2708 Brittan Avenue	8	$1,499,950
460 Phelps Road	9	$2,148,000
191 Kelton Avenue	10	$2,498,000

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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
354 Devonshire Boulevard	$1,998,000	4BR/2BA	1,940/18,928	Russel Boyd, Better Homes
1951 Elizabeth Street	$1,895,000	4BR/3BA	2,060/5,440	Helen Miller, Alain Pinel Realtors

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