The San Carlos Real Estate Week in Review: 3/23/2020.

The Recap.

Happy first week of Spring!  We are now a full week into the mandatory Bay Area shelter-in-place order, and the effect on the local real estate market has been crippling, to say the least.  All open houses and property showings have been deemed “non-essential” activities by the State of California, which essentially makes the act of buying and selling homes impossible, unless agents ope to circumvent the ordinance (which is still happening with surprising frequency.)

The inventory of homes in San Carlos dropped significantly last week, but not because that many homes were put into contract.  Quite a few sellers have opted to withdraw their homes from the market for the duration of the shutdown since they can't legally be shown to buyers, and there's no value in racking up the days on the market.

Most of the statistics that you see in this weekly post will likely dwindle to a trickle this week, as only the homes that were in escrow before the shutdown took effect can proceed forward.  Consequently, the Week in Review series may take a short hiatus (the first in 13 years!) until there are meaningful stats to report again.

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 3/22/2020:

San Carlos SFR Data	3/22/20	Prior Week
Number of Closed Sales:	4	5
Average Sales Price:	$2,215,722 (-11.3%)	$2,499,400
Median Sales Price:	$1,981,000 (-18.2%)	$2,422,000
Average % Sold vs List Price:	95%	98%
Average DOM of Closed Sales	47	10
Average $/Sq Foot (Sold)	$1,243 (+21.6%)	$1,022
No. of New Listings:	3	5
Total # of Active Listings:	11	16
Average Price of Active Listings:	$2,524,455 (+1.5%)	$2,486,611
Average DOM of Active Listings:	54	55
Average $/Sq Foot (List)	$996	$1,006
Total # of Homes Pending Sale:	11	11
Active-Pending Ratio:	1.0 : 1	1.5 : 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)
200 Sycamore Street	$3,200,888	$3,298,888	-$98,000 (-3.0%)	$1,127	58
845 Somerset Court	$2,112,000	$2,590,000	-$478,000 (-18.5%)	$1,265	112
19 Garden Lane	$1,850,000	$1,850,000	$0 (0%)	$1,331	10
539 Hillcrest Road	$1,700,000	$1,650,000	+$50,000 (+3.0%)	$1,250	6

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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)
200 Sycamore Street	$3,298,888	58
287 Alberta Avenue	$1,798,000	6

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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
164 Mesa Verde Way	$3,250,000	4BR/3BA	3,120/11,480	Robert Applegate, Intero
147 Wildwood Avenue	$2,200,000	3BR/2BA	1,710/5,715	Scott Orich, Flyhomes
1250 Central Avenue	$1,769,000	3BR/2BA	1,490/5,500	Eric Berggren, Coldwell Banker

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