The San Carlos Real Estate Week in Review: 4/20/2020.

The Recap.

The numbers below tell several interesting and somewhat different stories about what is happening in the San Carlos real estate market.  First, some sellers are still opting to put their homes on the market during the pandemic, despite the onerous restrictions on how the homes can be shown and marketed.  This past week alone there were eight single family homes that listed in San Carlos, which is an increase from five the week before.  Eight is a pretty decent weekly number in a normal market, let alone one that is operating on life support.

The second interesting data point is the number of homes that went to pending status last week.  Buyers were obviously venturing out during the week, and six of the available homes in San Carlos were put into contract.  That is a surprisingly strong number, and it certainly implies that a non-trivial percentage of the local population is bullish on our economy in the long game.

The final number that brings things somewhat back to reality, though,  is the number of homes that closed escrow this week –  zero.   Closed sales data usually lags behind the pending sales data by about 30 days, for obvious reasons.  So up until last week, you were seeing home sales data from contracts that were executed mostly before the shutdown occurred on March 17 — just over a month ago.  Now, you will start to truly see the effects of the pandemic on closed sales, as the number of home sales starts to trend downward quite dramatically — and this is during the prime buying season when the numbers are normally going the opposite direction.  I examined the data for both San Carlos and the entire county, and the drop-off is significant.   I will post some graphs at the end of this month to show exactly how the pandemic has crippled our real estate market.

So for now, it will be interesting to watch the data and see how the local market struggles through this unprecedented environment.

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 4/19/2020:

San Carlos SFR Data	4/19/20	Prior Week
Number of Closed Sales:	0	3
Average Sales Price:	$0	$1,977,667
Median Sales Price:	$0	$2,108,000
Average % Sold vs List Price:	0%	103%
Average DOM of Closed Sales	–*	5
Average $/Sq Foot (Sold)	$0	$1,218
No. of New Listings:	8	5
Total # of Active Listings:	18	15
Average Price of Active Listings:	$2,458,500	$2,403,467
Average DOM of Active Listings:	–*	–*
Average $/Sq Foot (List)	$1,036	$997
Total # of Homes Pending Sale:	13	5
Active-Pending Ratio:	1.4 : 1	3.0 : 1

*DOM figures are frozen until SIP is lifted.

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)
—	$–	$–	$– (0)	$–	0

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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)
700 Best Court	$2,998,000	—
327 Fairfield Drive	$1,995,000	—
524 Emerald Avenue	$1,725,000	—
347 Devonshire Boulevard	$1,749,000	—
147 Wildwood Avenue	$2,100,000	—
1 Maple Way	$1,668,000	—

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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
1725 Eaton Avenue	$3,595,000	4BR/4.5BA	2,846/7,426	Sarah Ravella, Golden Gate Sothebys
55 Roslyn Avenue	$2,695,000	4BR/4.5BA	2,885/6,000	Brian Ayer, Golden Gate Sothebys
2428 Melendy Drive	$2,498,000	4BR/3BA	2,170/11,000	BWG Partners, Compass
442 De Anza Avenue	$2,398,000	4BR/2.5BA	2,664/7,425	Holly Noto, Coldwell Banker
2125 Eaton Avenue	$2,350,000	3BR/2BA	1,760/9,350	John Shroyer, Golden Gate Sothebys
640 Prospect Street	$1,750,000	3BR/2.5BA	2,310/2,450	Patty Dwyer Group, Compass
524 Emerald Avenue	$1,725,000	3BR/1BA	1,450/5,500	Sternsmith Group, Compass
125 Garnet Avenue	$1,650,000	3BR/1BA	1,360/6,200	John Shroyer, Golden Gate Sothebys

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