The San Carlos Real Estate Week in Review: 10/22/2018.
October 22, 2018
There are quite a few closed sales to report this week — 13 in all — in the San Carlos real estate market. This makes sense, since there was flurry of new inventory and buying activity in late August and early September. In a post I wrote last week, I discussed how the market in San Carlos and all along the Peninsula is starting to feel the effects of a slowing market, and one of those effects was a lower premium being paid above the asking price in general. This week's data backs up that perception, with homes fetching only a 3% lift over the asking price on average.
The other interesting development last week was the introduction of some high-end homes into the San Carlos inventory. Of the eight new listings to hit the market, three of them have listing prices over $3,000,000. The home at 108 Queens Court, listed at almost $6.2M, becomes the highest list price on record (per MLS data) for a home in San Carlos after only the Black Mountain Water property, which listed and sold at $9.8M back in 2016. And that parcel was nearly 6 acres.
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 10/21/2018:
| San Carlos SFR Data | 10/21/18 | Prior Week |
|---|---|---|
| Number of Closed Sales: | 13 | 7 |
| Average Sales Price: | $1,994,846 | $1,886,864 |
| Median Sales Price: | $1,870,000 | $1,950,000 |
| Average % Sold vs List Price: | 103% | 107% |
| Average DOM of Closed Sales | 11 | 10 |
| Average $/Sq Foot (Sold) | $1,155 | $1,025 |
| No. of New Listings: | 8 | 6 |
| Total # of Active Listings: | 31 | 30 |
| Average Price of Active Listings: | $2,197,731 | $2,042,639 |
| Average DOM of Active Listings: | 22 | 25 |
| Average $/Sq Foot (List) | $1,034 | $999 |
| Total # of Homes Pending Sale: | 22 | 27 |
| Active-Pending Ratio: | 1.4 : 1 | 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 | $/Sq Foot | DOM (days) |
|---|---|---|---|---|---|
| 1950 Eucalyptus Avenue (5BR/3.5BA) | $3,150,000 | $3,088,000 | +$62,000 (+2.0%) | $1,137 | 9 |
| 26 Beverly Drive (3BR/2.5BA) | $2,385,000 | $2,298,000 | +$87,000 (+3.8%) | $1,305 | 14 |
| 2744 Milano Way (4BR/2.5BA) | $2,225,000 | $1,988,000 | +$237,000 (+11.9%) | $1,159 | 0 |
| 2905 Eaton Avenue (4BR/2BA) | $2,050,000 | $2,000,000 | +$50,000 (+2.5%) | $1,015 | 0 |
| 64 Exeter Avenue (4BR/2BA) | $2,040,000 | $1,895,000 | +$145,000 (+7.7%) | $1,063 | 10 |
| 49 Cedar Street (3BR/2BA) | $1,950,000 | $1,888,000 | +$62,000 (+3.3%) | $985 | 18 |
| 12 Walton Street (3BR/2BA) | $1,870,000 | $1,849,000 | +$21,000 (+1.1%) | $1,127 | 12 |
| 141 Belvedere Avenue (3BR/2BA) | $1,830,000 | $1,672,000 | +$158,000 (+9.4%) | $1,262 | 7 |
| 48 Miramonte Court (3BR/2BA) | $1,810,000 | $1,698,000 | +$112,000 (+6.6%) | $1,382 | 14 |
| 1637 Howard Avenue (3BR/2BA) | $1,800,000 | $1,800,000 | $0 (0%) | $1,176 | 14 |
| 2800 Eaton Avenue (3BR/2BA) | $1,623,000 | $1,638,000 | -$15,000 (-0.9%) | $1,040 | 6 |
| 148 Palm Avenue (3BR/2BA) | $1,600,000 | $1,698,000 | -$98,000 (-5.8%) | $1,221 | 31 |
| 385 Ridge Road (3BR/2.5BA) | $1,600,000 | $1,598,000 | +$2,000 (+0.1%) | $1,143 | 14 |
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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 |
|---|---|---|
| 706 Dartmouth Avenue | 23 | $1,749,000 |
| 59 Northam Avenue | 11 | $2,850,000 |
| 1968 Brittan Avenue | 32 | $1,750,000 |
| 136 Winding Way | 8 | $1,498,000 |
| 655 Bayport Avenue | 43 | $2,299,000 |
| 38 Winding Way | 77 | $2,398,000 |
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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 |
|---|---|---|---|---|
| 108 Queens Court | $6,198,000 | 5BR/4.5BA | 5,485/23,376 | Judy Citron, Alain Pinel Realtors |
| 598 Club Drive | $3,299,000 | 4BR/3BA | 3,087/12,000 | Julie Geyer, RE/MAX |
| 56 Coronado Avenue | $3,295,000 | 4BR/4BA | 3,650/11,000 | Anna Karpie, Keller Williams |
| 3271 Melendy Drive | $2,547,000 | 4BR/3BA | 2,900/9,559 | Bryce Cook, Coldwell Banker |
| 166 Belvedere Avenue | $1,910,000 | 3BR/2BA | 1,680/6,900 | Lena Griffin, LG Realty |
| 2133 Greenwood Avenue | $1,895,000 | 2BR/2BA | 1,280/6,298 | Oliva and Baker, Omarshall |
| 416 Sycamore Street | $1,450,000 | 3BR/2BA | 1,473/5,980 | Alex Lehr, Lehr Real Estate |
| 335 Fairfield Drive | $1,225,000 | 2BR/1BA | 820/5,000 | Julie Geyer, RE/MAX |
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