The San Carlos Real Estate Week in Review: 7/25/22

July 25, 2022

Week-in-Review

The Recap:

We are heading into the last full week of what has been a particularly lazy July in the San Carlos real estate market. For the second week in a row, only 1 home was put into contract during the entire week. This means that buyers are either not around, or they are being especially deliberate with their decision making process in this new market. Either way, the inventory of listings continues to creep upward.

The active to pending ratio, which compares the number of active listings to the number of homes pending sale, is commonly used to gauge the months of inventory that are on the market. When the San Carlos market is in a really busy phase, that ratio is more often below 1, signifying that homes are going into contract at a faster rate than new listings can arrive to replenish the inventory. Today, that ratio sits at 5.1, which is just quantitative evidence of the slowness of the market that we are already feeling.

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 7/24/2022:
San Carlos SFR Data7/24/22Previous Week
Number of Closed Sales:54
Average Sold Price:$2,216,990$2,550,000
Median Sold Price:$2,235,000$2,550,000
Average % Sold vs Orig List Price:105%96%
Average DOM of Closed Sales1519
Average $/Sq Foot (Sold)$1,615$1,197
Listings put into Contract:11
Total Homes Pending Sale:711
New Listings:410
Total Active Listings:3634
Average Price of Active Listings:$2,714,837$2,188,278
Average DOM of Active Listings:2320
Average $/Sq Foot (List)$1,339$1,303

2008 Howard Avenue

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)
2008 Howard Avenue$2,800,000$2,495,000+$305,000 (+12.2%)$1,6778
860 Cedar Street$2,430,000$2,468,000-$38,000 (-1.5%)$1,60910
2043 Saint Francis Way$2,250,000$2,198,000+$52,000 (+2.4%)$1,4589
1365 Geneva Avenue$2,235,000$1,998,000+$237,000 (+11.9%)$1,7742
975 Chestnut Street$2,099,950$2,099,950$0 (0%)$1,62821
549 Prospect Street$1,700,000$1,699,000+$1,000 (+0%)$1,56036

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)
1 Lewis Ranch Road$4,898,0004
3317 Melendy Drive

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
3317 Melendy Drive$2,795,0004BR/2BA3,090/11,200$905Compass
5 Maple Way$2,699,0005BR/4BA2,820/5,000$957Anchor
2403 Howard Avenue$2,495,0003BR/2BA1,690/7,500$1,476Kleebauer Properties
946 Montgomery Street$1,688,0003BR/2BA1,518/5,000$1,112Keller Williams

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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