The San Carlos Real Estate Week in Review: 4/18/22

April 18, 2022

The Recap:

In an environment where eye-popping premiums being paid for San Carlos homes is becoming a weekly event, this past week still stands out. The average overbid for homes that sold last week was 24%. Even though this number was skewed by one ridiculously under-priced listing, there were still some really strong sales that show that this market is not running out of steam any time soon.

Inventory remains abnormally low for this time of year, with only 10 homes for sale in the entire city, which is playing a big part in why homes are still selling so far above the asking price. If the open house traffic this past weekend was any indication, there are still far more buyers than there are sellers in this market — and that will likely keep prices stable in the face of inflation and rising interest rates.

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 4/17/2022:
San Carlos SFR Data4/17/22Previous Week
Number of Closed Sales:710
Average Sold Price:$3,555,714$3,267,350
Median Sold Price:$3,600,000$3,105,500
Average % Sold vs Orig List Price:124%112%
Average DOM of Closed Sales115
Average $/Sq Foot (Sold)$1,568$1,403
Listings put into Contract:611
Total Homes Pending Sale:2224
New Listings:64
Total Active Listings:109
Average Price of Active Listings:$3,290,000$3,052,432
Average DOM of Active Listings:1010
Average $/Sq Foot (List)$1,425$1,384

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. ListPremium Over List$/sq footDOM (days)
2721 Clifford Avenue$5,300,000$4,895,000+$405,000 (+8.3%)$1,0608
233 Molton Avenue$3,760,000$3,199,000+$561,000 (+17.5%)$1,7554
205 Bayview Drive$3,600,000$2,999,888+$600,112 (+20.0%)$1,5874
22 Shratton Avenue$3,600,000$2,789,999+$810,001 (+29.0%)$1,24614
875 Heather Drive$3,310,000$3,280,000-$190,000 (-5.4%)$1,90226
237 Timothy Drive$3,050,000$2,950,000+$100,000 (+3.4%)$1,2017
30 Kenton Avenue$2,270,000$1,179,000+$1,091,000 (+92.5%)$2,22515

San Carlos Single-Family Homes Pending Sale

The following single-family homes were put into contract in San Carlos last week. Click on the address of each home to see more details and photos:
AddressList PriceDOM (days)
1067 Hewitt Drive$2,788,0007
919 Lupin Way$2,698,0004
70 Hartford Avenue$3,488,88811
92 Bayview Drive$2,699,0006
1383 Rosewood Avenue$1,650,00013
1022 Cherry Street$1,548,0007
893 Cordilleras Avenue

San Carlos New 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) $/Square FootListed By
139 Windsor Drive$4,150,0004BR/4.5BA3,554/5,832$1,168Compass
133 Plymouth Avenue$3,098,0004BR/3BA2,501/5,600$1,239Sereno
2415 Eaton Avenue$2,898,0003BR/2BA1,925/8,778$1,505Sereno
893 Cordilleras Avenue$2,888,0003BR/2BA1,905/6,343$1,516Compass
21 Robin Way$2,298,0003BR/2BA1,720/5,000$1,336Intero
1333 Cedar Street$2,180,0002BR/1BA1,160/5,700$1,879Compass

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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