The San Carlos Real Estate Week in Review: 6/4/2018.

June 4, 2018

The activity in the San Carlos real estate market picked up somewhat last week, but mostly on the listing side of the table. Eight new listings jumped into the fray, while a somewhat less deliberate buyer pool took only three of the existing homes into contract. That net difference pushed the inventory of homes for sale up to 20 in San Carlos as we head into the first full week of June.

It's interesting to look at the different days on market averages in the table below.  Despite a robust 8% average premium over the asking price, the homes that closed escrow last week took an average of 17 days to get into contract, which is skewed slightly by one particular listing, but still longer than normal for San Carlos homes.  These listings were all taken into contract in either late April or the first week of May. For the existing inventory, the average days on market is still hovering around the 1-month mark despite the injection of 8 new listings into the mix.

These two different data points provide some evidence behind the sensation we've been feeling that the market has cooled  somewhat since early May, and that it's starting to take slightly longer for homes to sell even in red-hot San Carlos.

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 6/3/2018:

San Carlos SFR Data 6/3/18 Prior Week
Closed Sales for the Week: 8 10
Average Sales Price: $2,303,750 $1,832,800
Median Sales Price: $2,225,000 $1,739,000
Average % Sold vs List Price: 108% 114%
Average DOM of Closed Sales 17 8
Average $/Sq Foot (Sold) $1,020 $1,186
No. of New Listings: 8 2
Total # of Active Listings: 20 15
Average Price of Active Listings: $2,284,269 $2,360,611
Average DOM of Active Listings: 32 38
Average $/Sq Foot (List) $996 $1,004
Total # of Homes Pending Sale: 18 24
Active-Pending Ratio: 1.1: 1 0.71 : 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.


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)
124 Wilshire Court $2,950,000 $2,950,000 $0 (0%) $984 15
112 Winding Way $2,610,000 $2,498,000 +$112,000 (+4.5%) $942 12
2515 Nanette Drive $2,400,000 $1,988,888 +$411,112 (+20.1%) $1,263 15
198 Cedar Street $2,250,000 $2,099,000 +$151,000 (+7.2%) $951 10
2932 Sherwood Drive $2,200,000 $2,298,000 -$98,000 (-4.3%) $957 46
450 Erlin Drive $2,125,000 $2,088,000 +$37,000 (+1.8%) $711 16
55 Pine Avenue $2,015,000 $1,799,000 +$216,000 (+12.0%) $1,061 14
2708 Brittan Avenue $1,880,000 $1,499,950 +$380,050 (+25.3%) $1,288 8


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
141 Beverly Drive 8 $1,599,000
353 Wellington Drive 13 $1,428,888
108 Brook Street 15 $1,248,000


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
1979 Eaton Avenue $1,998,888 3BR/3BA 1,370/7,500 Ronda O'Leary, Alain Pinel Realtors
54 Madera Avenue $1,995,000 3BR/3BA 1,940/5,952 Craig Smith, Intero
163 Highland Avenue $1,888,000 3BR/2.5BA 1,890/6,050 Hazel Connell, Alain Pinel Realtors
112 Chesham Avenue $1,888,000 3BR/3BA 2,300/7,250 Greg Celotti, Alain Pinel Realtors
2227 Carmelita Drive $1,795,000 3BR/2BA 1,750/5,830 John Esplana, Keller Williams
148 Chestnut Street $1,695,000 3BR/2BA 1,680/5,550 Elaine White, Coldwell Banker
2700 Eaton Avenue $1,595,000 3BR/1.5BA 1,520/5,000 C. Joseph Stein, Realty World
539 Hillcrest Road $1,388,000 3BR/2BA 1,360/5,800 David Young, Coldwell Banker


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