The San Carlos Real Estate Week in Review: 7/25/22
July 25, 2022
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 Data | 7/24/22 | Previous Week |
Number of Closed Sales: | 5 | 4 |
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 Sales | 15 | 19 |
Average $/Sq Foot (Sold) | $1,615 | $1,197 |
Listings put into Contract: | 1 | 1 |
Total Homes Pending Sale: | 7 | 11 |
New Listings: | 4 | 10 |
Total Active Listings: | 36 | 34 |
Average Price of Active Listings: | $2,714,837 | $2,188,278 |
Average DOM of Active Listings: | 23 | 20 |
Average $/Sq Foot (List) | $1,339 | $1,303 |
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) |
2008 Howard Avenue | $2,800,000 | $2,495,000 | +$305,000 (+12.2%) | $1,677 | 8 |
860 Cedar Street | $2,430,000 | $2,468,000 | -$38,000 (-1.5%) | $1,609 | 10 |
2043 Saint Francis Way | $2,250,000 | $2,198,000 | +$52,000 (+2.4%) | $1,458 | 9 |
1365 Geneva Avenue | $2,235,000 | $1,998,000 | +$237,000 (+11.9%) | $1,774 | 2 |
975 Chestnut Street | $2,099,950 | $2,099,950 | $0 (0%) | $1,628 | 21 |
549 Prospect Street | $1,700,000 | $1,699,000 | +$1,000 (+0%) | $1,560 | 36 |
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) |
1 Lewis Ranch Road | $4,898,000 | 4 |
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 |
3317 Melendy Drive | $2,795,000 | 4BR/2BA | 3,090/11,200 | $905 | Compass |
5 Maple Way | $2,699,000 | 5BR/4BA | 2,820/5,000 | $957 | Anchor |
2403 Howard Avenue | $2,495,000 | 3BR/2BA | 1,690/7,500 | $1,476 | Kleebauer Properties |
946 Montgomery Street | $1,688,000 | 3BR/2BA | 1,518/5,000 | $1,112 | Keller 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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