The San Carlos Real Estate Week in Review: 6/1/2020.
June 1, 2020
Each week that we gradually open up the economy, the real estate market seems to get just a little bit busier. 7 new listings hit the market in last week in San Carlos, and even though only 2 homes were officially put into contract, that somewhat belies the activity level that's taking place. At least two of the 25 active listings will go pending today, and showing activity on many other San Carlos listings has been brisk, to say the least.
It's interesting to note that all 5 of the homes that sold last week closed at prices below their original list price. Seeing an entire column of red ink isn't something that I recall seeing on this post since the Recession, but I wouldn't take this as evidence that prices are starting to plummet, although there seems to be resistance by buyers to writing offers way above the list price. Consequently, sellers are pricing their homes more “transparently”, or closer to where they think the home will ultimately sell. This is in marked contrast to the method we've grown used to of pricing the home slightly low to generate multiple offers. While the latter strategy works fine in an escalating market, it's often too risky in a nervous and twitchy market that we are living with right now.
Here are the sales numbers from last week:
This 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 5/31/2020:
|San Carlos SFR Data||5/31/20||Prior Week|
|Number of Closed Sales:||5||8|
|Average Sold Price:||$1,936,900||$2,144,125|
|Median Sold Price:||$1,750,000||$2,199,000|
|Average % Sold vs Orig List Price:||93%||99%|
|Average DOM of Closed Sales||–*||–*|
|Average $/Sq Foot (Sold)||$1,003||$1,100|
|Listings put into Contract:||2||6|
|Total Homes Pending Sale:||14||16|
|Total Active Listings:||25||22|
|Average Price of Active Listings:||$2,540,715||$2,523,949|
|Average DOM of Active Listings:||–*||–*|
|Average $/Sq Foot (List)||$1,062||$1,064|
*DOM figures are frozen until SIP is lifted.
San Carlos Single-Family Residences Sold:
Below is a list of the single-family home contracts that closed escrow this past week in San Carlos. Click on the address of each to see the complete details.
|Address||Sold Price||Orig. List||Difference||$/Sq Foot||DOM (days)|
|1125 Cedar Street||$2,702,500||$2,895,000||-$192,500 (-6.6%)||$1,060||–*|
|1400 Eaton Avenue||$2,060,000||$2,100,000||-$40,000 (-1.9%)||$1,120||–*|
|188 Winding Way||$1,750,000||$1,898,000||-$148,000 (-7.8%)||$841||–*|
|2428 San Carlos Avenue||$1,622,000||$1,775,000||-$153,000 (-8.6%)||$960||–*|
|186 Wildwood Avenue||$1,550,000||$1,695,000||-$145,000 (-8.6%)||$1,033||–*|
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)|
|510 De Anza Avenue||$1,850,000||–*|
|22 Dover Court||$2,159,000||–*|
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|
|2959 Eaton Avenue||$3,498,000||4BR/3BA||4,555/12,414||Greg Celotti, Compass|
|345 Oakview Drive||$3,380,000||4BR/3BA||2,667/7,150||Erika Ameri, Compass|
|1137 Greenbrier Road||$3,199,999||4BR/2.5BA||3,360/11,020||Sam Jafari, RE/MAX|
|1350 Woodland Avenue||$2,150,000||3BR/2BA||1,833/4,040||Chuck Gillooley, Compass|
|244 Shelford Avenue||$2,125,000||3BR/2.5BA||2,235/9,150||John Nelson, Reali|
|825 Buckland Avenue||$1,990,000||3BR/2.5BA||1,550/7,200||Robert Bredel, Dwell|
|1051 Crestview Drive||$1,769,000||3BR/2BA||1,720/10,488||Arlene Sullivan, Coldwell Banker|
(Click the “Homes For Sale” sign below to see ALL of the homes currently for Sale in San Carlos.)
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)|
|1001 Laurel Street #313||$791,000||$848,000||-$57,000 (-6.7%)||–*|
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)|
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|
|3366 Brittan Avenue #4||$980,000||2BR/2BA||1,040||Shirley Kraus, Intero|
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.