The San Carlos Real Estate Week in Review: 5/9/22
May 9, 2022
The Recap:
Despite all of the economic challenges that are being thrown at the current real estate market, home prices continue to soar in San Carlos and other local communities. 2/3 of the homes that closed escrow last week in San Carlos fetched 6-figure premiums over their asking prices. Granted, there are a few below that were arguably under-priced to significant degree, but there are still a lot of additional home sales yet to be posted that are seeing multiple 6-figure bumps from their list price.
If there is going to be a “leveling off' in this market, you'll start to see it hit the “fringe” homes first — those which have some sort of detriment that would be far more objectionable when we are in a more balance market. These are homes that are on busy streets, or ones that are in rough shape from lack of updating and maintenance, or finally homes that have limited yard space. When those homes start to encounter problems selling, that will be a good sign that the market may be starting to slow down.
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 5/8/2022:| San Carlos SFR Data | 5/8/22 | Previous Week |
| Number of Closed Sales: | 9 | 4 |
| Average Sold Price: | $2,860,111 | $3,338,250 |
| Median Sold Price: | $2,498,000 | $3,339,000 |
| Average % Sold vs Orig List Price: | 113% | 110% |
| Average DOM of Closed Sales | 8 | 6 |
| Average $/Sq Foot (Sold) | $1,483 | $1,550 |
| Listings put into Contract: | 3 | 8 |
| Total Homes Pending Sale: | 22 | 28 |
| New Listings: | 6 | 1 |
| Total Active Listings: | 11 | 7 |
| Average Price of Active Listings: | 2,560,072 | $3,642,000 |
| Average DOM of Active Listings: | 8 | 22 |
| Average $/Sq Foot (List) | $1,418 | $1,369 |
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 | Premium Over List | $/sq foot | DOM (days) |
| 17 Cranfield Avenue | $4,500,000 | $3,998,000 | +$502,000 (+12.6%) | $1,327 | 6 |
| 70 Hartford Avenue | $3,660,000 | $3,488,888 | +$171,112 (+4.9%) | $1,008 | 11 |
| 291 Hyde Park | $3,533,000 | $3,450,000 | +$83,000 (+2.4%) | $1,033 | 9 |
| 100 Wellington Drive | $3,400,000 | $3,298,000 | +$102,000 (+3.1%) | $1,276 | 3 |
| 175 Ruby Avenue | $2,498,000 | $2,400,000 | +$98,000 (+4.1%) | $1,581 | 6 |
| 990 Orange Avenue | $2,325,000 | $2,299,950 | +$25,050 (+1.1%) | $1,550 | 13 |
| 1383 Rosewood Avenue | $2,175,000 | $1,650,000 | +$525,000 (+31.8%) | $1,925 | 13 |
| 2072 Greenwood Avenue | $1,840,000 | $1,298,000 | +$542,000 (+41.8%) | $1,803 | 3 |
| 1022 Cherry Street | $1,810,000 | $1,548,000 | +$262,000 (+16.9%) | $1,839 | 7 |
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:| Address | List Price | DOM (days) |
| 1060 Crestview Drive | $2,199,000 | 11 |
| 229 Park Avenue | $3,799,000 | 10 |
| 875 Orange Avenue | $2,198,000 | 6 |
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:| Address | List Price | BR/BA | Sq Ft (home/lot) | $/Square Foot | Listed By |
| 81 Devonshire Cirlce | $3,795,000 | 5BR/4BA | 2,980/8,895 | $1,273 | Sereno |
| 2622 Thornhill Drive | $3,148,000 | 5BR/4BA | 2,489/5,888 | $1,265 | Sothebys |
| 1621 Cordilleras Avenue | $2,398,000 | 3BR/2BA | 1,580/6,050 | $1,518 | Sereno |
| 233 Ruby Avenue | $2,198,000 | 3BR/2BA | 1,310/4,400 | $1,678 | Sereno |
| 1544 Magnolia Avenue | $1,954,888 | 2BR/1BA | 1,410/6,540 | $1,386 | Strombom Properties |
| 2088 Brittan Avenue | $1,649,000 | 2BR/1BA | 1,020/5,000 | $1,617 | 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.
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