The San Carlos Real Estate Week in Review: 12/3/2018.

December 3, 2018

In trend that has been developing over the past few weeks, more than half of the homes that sold in San Carlos last week closed at prices that were below the original list price.  This, combined with numerous recent price reductions and cancellations, is very indicative of the relatively tepid real estate market that we're seeing as 2018 draws to a close.

Inventory remained nearly unchanged this week, with 20 homes being available for sale. The average number of days on the market for these homes now sits at an unusually high level of nearly 40 days.  Homes in the higher price ranges ($3M and up) are taking especially long to sell, which is probably to be expected since the high end of the real estate market always shows the signs of a weakening market first.

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 12/2/2018:

San Carlos SFR Data 12/2/18 Prior Week
Number of Closed Sales: 8 6
Average Sales Price: $1,868,500 $1,859,500
Median Sales Price: $1,715,000 $1,759,500
Average % Sold vs List Price: 99% 97%
Average DOM of Closed Sales 25 36
Average $/Sq Foot (Sold) $938 $1,088
No. of New Listings: 1 1
Total # of Active Listings: 20 21
Average Price of Active Listings: $2,628,150 $2,508,804
Average DOM of Active Listings: 39 36
Average $/Sq Foot (List) $1,210 $1,198
Total # of Homes Pending Sale: 19 25
Active-Pending Ratio: 1.1 : 1 0.8 : 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)
229 Frances Lane (5BR/4.5BA) $2,700,000 $2,798,000 -$98,000 (-3.5%) $711 43
1189 Elm Street (3BR/3BA) $2,318,000 $2,050,000 +$268,000 (+13.1%) $1,252 3
215 Lemoore Drive (3BR/2BA) $1,800,000 $2,095,000 -$295,000 (-14.1%) $874 22
105 Beverly Drive (3BR/3BA) $1,760,000 $1,670,000 +$90,000 (+3.4%) $1,035 16
2805 San Simeon Way (4BR/2BA) $1,670,000 $1,823,281 -$153,281 (-8.4%) $1,092 24
525 Vista Avenue (3BR/3BA) $1,600,000 $1,495,000 +$105,000 (+7.0%) $687 8
376 Ridge Road (4BR/2BA) $1,570,000 $1,599,000 -$29,000 (-1.8%) $882 48
964 Sunset Drive (3BR/2.5BA) $1,530,000 $1,680,000 -$150,000 (-8.9%) $975 35

__________________________________________________________________

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
351 Chesham Avenue 21 $1,699,000
378 De Anza Avenue 7 $1,595,000

____________________________________________________________________

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
135 Madera Avenue $2,985,000 4BR/4BA 3,260/10,000 Joyce & Tatum, Dwell

\

____________________________________________________________________

Posted in:

Leave a Comment