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 Data8/2/20
    Prior Week
Number of Closed Sales:1114
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 Sales1914
Average $/Sq Foot (Sold)$1,089$1,128
Listings put into Contract:97
Total Homes Pending Sale:2932
New Listings:812
Total Active Listings:2932
Average Price of Active Listings:$2,472,024$2,347,059
Average DOM of Active Listings:3431
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.
AddressSold PriceOrig. ListDifference$/sq footDOM (days)
72 Coronado Avenue$3,355,000$3,198,000+$157,000 (+4.9%)$92812
1013 Rosewood Avenue$3,350,000$3,180,000+$170,000 (+5.3%)$1,2235
345 Oakview Drive$3,308,000$3,380,000-$72,000 (-2.1%)$1,24027
2233 Brittan Avenue$2,300,000$2,348,000-$48,000 (-2.0%)$1,06111
2764 Bromley Drive$2,100,000$1,999,000+$101,000 (+5.1%)$1,07810
3024 Brittan Avenue
$1,918,000$1,998,000-$80,000 (-4.0%)$1,07210
1343 Chestnut Street$1,888,000$1,948,000-$60,000 (-3.1%)$1,15111
346 Cedar Street$1,850,000$1,950,000-$100,000 (-5.1%)$1,16832
1532 Belmont Avenue$1,775,000$1,898,000-$123,000 (-6.5%)$1,04445
230 Pearl Avenue$1,733,000$1,925,000-$192,000 (-10.0%)$68444
2467 San Carlos Avenue$1,557,500$1,449,000+$108,500 (+7.5%)$1,3315

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:
AddressList Price DOM (days)
983 Sylvan Drive
116 Hillcrest Road$1,780,00012
89 Ensenada Road$1,895,00017
2044 Saint Francis Way$1,398,0008
2740 Bromley Drive$2,625,00021
125 Coventry Court$2,598,0007
2909 Brittan Avenue$1,949,00017
1671 Belmont Avenue$1,900,00025
907 Woodland Avenue$2,235,00010

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:
AddressList PriceBR/BASq Ft (home/lot) Listed By
173 Coventry Court$3,299,9234BR/3BA2,290/15,400DonnaMarie Baldwin, Compass
3230 La Mesa Drive$2,998,0004BR/2.5BA2,600/10.098Amy Anderson, Keller Williams
147 Rockridge Road$2,400,0003BR/2BA1,960/7,100Sue Walsh, Compass
94 Club Drive
$2,398,0004BR/2.5BA2,940/11,250Mary Abolmoluki, Coldwell Banker
1026 Elm Street
$2,298,0003BR/2BA1,910/6,000Michael Horwitz, Coldwell Banker
10 Primrose Lane$1,698,0003BR/2BA1,500/6,900Jim Minkey, Golden Gate Sothebys
1983 Brittan Avenue$1,575,0003BR/1BA1,010/4,400Carrie Du Bois, Golden Gate Sothebys
517 Wellington Drive$1,574,8883BR/2.5BA1,671/5,940David 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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