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

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.

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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)
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.

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

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