The San Carlos Real Estate Week in Review: 8/3/2020.
August 3, 2020
The Recap.
For the second straight week in San Carlos, more homes sold below their respective original list price than above. 7 of the 11 homes that closed escrow this week didn't fetch their original list price. I don't believe this is an indication that prices are starting to drop in the San Carlos market as much as it is a reflection of more a conservative and “transparent” pricing strategy that was adopted at the outset of the shelter in place.
On that topic, it's apparent that as the market has settled into the pandemic economy, some agents are becoming comfortable again with pricing their listings on the aggressive side in hopes of garnering multiple offers. This isn't happening with every listing, but it is happening with much more frequency than back in April and May. This underscores the importance of working with an agent who has a keen understanding of home values in San Carlos so that you know which pricing strategy is being employed by the seller.
The inventory of homes for sale dropped slightly this week, but it still relatively high. With only 8 new listings hitting the market last week, the inventory of homes for sale in San Carlos sits at 29 as of this morning.
Here are the sales numbers from last week:
At A Glance
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 8/2/2020:| San Carlos SFR Data | 8/2/20 |
|
| Number of Closed Sales: | 11 | 14 |
| Average Sold Price: | $2,284,955 | $2,187,429 |
| Median Sold Price: | $1,918,000 | $1,932,500 |
| Average % Sold vs Orig List Price: | 99% | 101% |
| Average DOM of Closed Sales | 19 | 14 |
| Average $/Sq Foot (Sold) | $1,089 | $1,128 |
| Listings put into Contract: | 9 | 7 |
| Total Homes Pending Sale: | 29 | 32 |
| New Listings: | 8 | 12 |
| Total Active Listings: | 29 | 32 |
| Average Price of Active Listings: | $2,472,024 | $2,347,059 |
| Average DOM of Active Listings: | 34 | 31 |
| Average $/Sq Foot (List) | $1,039 | $1,065 |
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) |
| 72 Coronado Avenue | $3,355,000 | $3,198,000 | +$157,000 (+4.9%) | $928 | 12 |
| 1013 Rosewood Avenue | $3,350,000 | $3,180,000 | +$170,000 (+5.3%) | $1,223 | 5 |
| 345 Oakview Drive | $3,308,000 | $3,380,000 | -$72,000 (-2.1%) | $1,240 | 27 |
| 2233 Brittan Avenue | $2,300,000 | $2,348,000 | -$48,000 (-2.0%) | $1,061 | 11 |
| 2764 Bromley Drive | $2,100,000 | $1,999,000 | +$101,000 (+5.1%) | $1,078 | 10 |
| 3024 Brittan Avenue | $1,918,000 | $1,998,000 | -$80,000 (-4.0%) | $1,072 | 10 |
| 1343 Chestnut Street | $1,888,000 | $1,948,000 | -$60,000 (-3.1%) | $1,151 | 11 |
| 346 Cedar Street | $1,850,000 | $1,950,000 | -$100,000 (-5.1%) | $1,168 | 32 |
| 1532 Belmont Avenue | $1,775,000 | $1,898,000 | -$123,000 (-6.5%) | $1,044 | 45 |
| 230 Pearl Avenue | $1,733,000 | $1,925,000 | -$192,000 (-10.0%) | $684 | 44 |
| 2467 San Carlos Avenue | $1,557,500 | $1,449,000 | +$108,500 (+7.5%) | $1,331 | 5 |
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) |
| 983 Sylvan Drive | $1,200,000 | 6 |
| 116 Hillcrest Road | $1,780,000 | 12 |
| 89 Ensenada Road | $1,895,000 | 17 |
| 2044 Saint Francis Way | $1,398,000 | 8 |
| 2740 Bromley Drive | $2,625,000 | 21 |
| 125 Coventry Court | $2,598,000 | 7 |
| 2909 Brittan Avenue | $1,949,000 | 17 |
| 1671 Belmont Avenue | $1,900,000 | 25 |
| 907 Woodland Avenue | $2,235,000 | 10 |
New San Carlos Single-Family Home Listings
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 |
| 173 Coventry Court | $3,299,923 | 4BR/3BA | 2,290/15,400 | DonnaMarie Baldwin, Compass |
| 3230 La Mesa Drive | $2,998,000 | 4BR/2.5BA | 2,600/10.098 | Amy Anderson, Keller Williams |
| 147 Rockridge Road | $2,400,000 | 3BR/2BA | 1,960/7,100 | Sue Walsh, Compass |
| 94 Club Drive | $2,398,000 | 4BR/2.5BA | 2,940/11,250 | Mary Abolmoluki, Coldwell Banker |
| 1026 Elm Street | $2,298,000 | 3BR/2BA | 1,910/6,000 | Michael Horwitz, Coldwell Banker |
| 10 Primrose Lane | $1,698,000 | 3BR/2BA | 1,500/6,900 | Jim Minkey, Golden Gate Sothebys |
| 1983 Brittan Avenue | $1,575,000 | 3BR/1BA | 1,010/4,400 | Carrie Du Bois, Golden Gate Sothebys |
| 517 Wellington Drive | $1,574,888 | 3BR/2.5BA | 1,671/5,940 | David Blewett, 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.
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