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.
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San Carlos Single-Family Residences Sold:
229 Frances Lane
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 |
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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 |
|---|---|---|
| 351 Chesham Avenue | 21 | $1,699,000 |
| 378 De Anza Avenue | 7 | $1,595,000 |
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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 |
|---|---|---|---|---|
| 135 Madera Avenue | $2,985,000 | 4BR/4BA | 3,260/10,000 | Joyce & Tatum, Dwell |
(Click the “Homes For Sale” sign below to see ALL of the homes currently for Sale in San Carlos.)
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Condos and Townhomes Sold in San Carlos
Below are the condos/townhouses that closed escrow this past week. Click on the address of each home to see more details and photos.
| Address | Sold Price | Orig. List | Difference | DOM (days) |
|---|---|---|---|---|
| 10 Mayflower Lane | $1,525,000 | $1,595,000 | -$70,000 (-4.4%) | 50 |
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Condo/Townhouse Pending Sale this Week.
The following condos/townhouses went into contract this week. Click on the address of each home to see more details and photos.
| Address | DOM (days) | List Price |
|---|---|---|
| 12 Tulip Lane | 66 | $1,499,000 |
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New Condo/Townhouse Listings in San Carlos:
The following condo/townhouses listed this past week. Click on the address of each home to see more details and photos.
| Address | List Price | BR/BA | Sq Feet | Listed By |
|---|---|---|---|---|
| — | $– | — | — | — |
Disclaimer: The “San Carlos Week in Review” series is a summary of new listings and home sales in San Carlos for the prior week. The data provided in this report is strictly for informational purposes only, and should not imply that the author was involved in either side of the transaction unless explicitly stated otherwise. The source of this data is the Multiple Listing Service (MLS), so the author is in no way responsible for the accuracy of the data from this source.
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