The San Carlos Real Estate Week in Review: 9/2/2019.

September 2, 2019

happy-labor-day

Happy Labor Day to everyone!  August is now in the books, and home sellers are probably glad the summer is over.  This week's closed sales figures pretty much capture what has been happening throughout most of the summer in the San Carlos real estate market.  2/3 of the homes that sold last week did not get their original asking price, which has become a common occurrence this summer. Two of these homes had to take significant 6-figure cuts in order to sell.  Looking back over the last 4 weeks, a full 56% of the homes that sold in San Carlos did not achieve their intended list price, which is actually considered to be a normal number in a balanced real estate market, but very uncharacteristic of the market we've become accustomed to here in San Carlos.

But all is not lost for home sellers.  Last week, eight of the active listings were put into contract, which shows that buyers are coming back into the market after the summer break.  This pulled the inventory of single-family homes for sale in San Carlos back down to 19.  This coming week marks the traditional beginning of the compressed fall market, so look for an increase in listing and sales activity as seller and buyers alike look to lock up their sales in the next 60 days.

Here are the sales numbers from last week:

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 9/1/2019:

San Carlos SFR Data 9/1/19 Prior Week
Number of Closed Sales: 6 8
Average Sales Price: $1,976,667 $2,643,625
Median Sales Price: $1,930,000 $2,617,500
Average % Sold vs List Price: 95% 98%
Average DOM of Closed Sales 51 21
Average $/Sq Foot (Sold) $1,051 $1,035
No. of New Listings: 3 8
Total # of Active Listings: 19 28
Average Price of Active Listings: $2,185,196 $2,042,776
Average DOM of Active Listings: 33 33
Average $/Sq Foot (List) $962 $952
Total # of Homes Pending Sale: 16 12
Active-Pending Ratio: 1.2 : 1 2.3 : 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 Open House List

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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.

321 Clifton Avenue

321 Clifton Avenue

Address Sold Price Orig. List Difference $/Sq Foot DOM (days)
321 Clifton Avenue (5BR/3.5BA) $2,600,000 $2,695,000 -$95,000 (-3.5%) $741 44
1088 Hewitt Drive (4BR/3BA) $2,470,000 $2,349,000 +$121,000 (+5.2%) $1,247 7
300 Chestnut Street (3BR/3BA) $1,960,000 $2,395,000 -$435,000 (-18.2%) $812 55
1101 Cordilleras Avenue (3BR/2.5BA) $1,900,000 $2,259,000 -$359,000 (-15.9%) $1,044 142
30 Hilltop Drive (3BR/2BA) $1,700,000 $1,750,000 -$50,000 (-15.9%) $965 53
1008 Riverton Drive (2BR/1BA) $1,230,000 $1,175,000 +$55,000 (+4.7%) $1,500 3

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San Carlos Single-Family Homes Pending Sale:

The following single-family homes went into contract in San Carlos last week. Click on the address of each home to see more details and photos:

Address List Price DOM (days)
2921 Brittan Avenue $1,998,000 11
412 Sycamore Street $1,698,000 11
961 Hall Street $1,198,000 7
6 Arch Lane $1,898,000 39
416 Winding Way $1,398,000 12
19 Bay View Drive $2,650,000 7
61 Hilltop Drive $1,599,000 16
1385 Alameda de las Pulgas $1,825,000 21

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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.

2225 Eaton Avenue

2225 Eaton Avenue

Address List Price BR/BA Sq Ft (home/lot) Listed By
2225 Eaton Avenue $3,700,000 5BR/4BA 3,784/9,920 Art Sharif, Sothebys
434 Hill Way $2,500,000 4BR/2.5BA 2,702/4,950 Michael Robles, Coldwell Banker
240 Windsor Drive $1,968,000 3BR/2.5BA 2,120/7,600 Sue Mitchell, Today Sothebys

(Click the “Homes For Sale” sign below to see ALL of the homes currently for Sale in San Carlos.)

Homes 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)
772 Walnut Street #12 $931,000 $922,000 +$9,000 (+1.0%) 7

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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 List Price DOM (days)
3374 Brittan Avenue #13 $1,325,000 19
1432 San Carlos Avenue #4 $1,089,000 40

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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
400 Portofino Drive #1 $1,050,000 2BR/2BA 1,570 Janie Barman, Compass

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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