The San Carlos Real Estate Week in Review: 3/8/2021.

The Recap.

Buyers in this market are finding out the hard way that homes are selling very quickly, often after just the first showing.  All 5 homes that were put into contract last week didn't last more than 7 days on the market.   My listing at 2834 Brittan Avenue sold in only 6 days.  1506 Gover Lane and 33 Maple Way both sold in 7 days, and 12 Wildwood Avenue sold after only 2 days on the market.  This underscores how intense and competitive the current real estate market is for buyers, especially in the entry-level market.  Buyers in the $2M range are absolutely slugging it out trying to land a house in a market that has virtually no inventory, and the sales prices are reflecting this desperation.  Just watch the closed sales figures over the next few weeks on this site, and you'll see just how this market imbalance has driven prices higher than even the most bullish market watchers could have predicted.

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 3/7/2021:

San Carlos SFR Data	3/7/2021	Previous Week
Number of Closed Sales:	6	8
Average Sold Price:	$2,401,500	$2,501,360
Median Sold Price:	$2,287,500	$2,350,440
Average % Sold vs Orig List Price:	101%	111%
Average DOM of Closed Sales	13	11
Average $/Sq Foot (Sold)	$907	$1,234
Listings put into Contract:	5	4
Total Homes Pending Sale:	30	32
New Listings:	7	6
Total Active Listings:	15	14
Average Price of Active Listings:	$2,657,326	$2,466,071
Average DOM of Active Listings:	23	29
Average $/Sq Foot (List)	$1,191	$1,180

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)
38 Pine Avenue	$3,126,000	$2,880,000	+$246,000 (+8.5%)	$1,049	7
984 Alameda	$2,608,000	$2,625,000	-$17,000 (-0.6%)	$838	10
953 Alameda	$2,450,000	$2,098,000	+$352,000 (+16.8%)	$1,256	2
1180 Alameda	$2,125,000	$2,250,000	-$125,000 (-5.6%)	$872	27
1130 Royal Lane	$2,100,000	$1,925,000	+$175,000 (+9.1%)	$827	11
2 Coleman Court	$2,000,000	$2,500,000	-$500,000 (-20.0%)	$599	23

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)
87 Bayport Court	$2,399,999	6
2384 Brittan Avenue	$1,898,000	6
33 Maple Way	$1,895,000	7
1506 Gover Lane	$2,100,000	7
12 Wildwood Avenue	$2,288,000	2

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)	$/Square Foot	Listed By
3363 Melendy Drive	$3,495,000	4BR/3.5BA	3,400/7,480	$1,028	Mariana Pappalardo, Compass
235 Pearl Avenue	$3,299,000	4BR/3.5BA	2,388/6,100	$1,269	Mariana Pappalardo, Compass
267 Garnet Avenue	$3,298,000	5BR/3.5BA	2,770/6,600	$1,191	Gary Bulanti, Compass
1029 Hewitt Drive	$2,749,888	4BR/3BA	2,253/10,240	$1,221	Dave Blewett, Intero
35 Elston Court	$2,465,000	3BR/2BA	2,550/6,300	$967	Jamie Roberts, Sereno
12 Wildwood Avenue	$2,288,000	3BR/2BA	1,670/7,874	$1,370	Alan Canas, Coldwell Banker
18 Hilltop Drive	$1,980,000	3BR/2.5BA	1,950/5,100	$1,015	Mariana Pappalardo, Compass

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.