The San Carlos Real Estate Week in Review: 8/8/22
August 8, 2022
The Recap:
The numbers below tell the tale of a market that is catching its collective breath. The addition of 5 new listings pushed the inventory of single-family homes for sale in San Carlos up to 41 as of this morning. The average days on market for these active listing is a nearly 1 month, so it's obvious that the rate of homes being purchased in San Carlos is dropping. Another phenomenon that we're not accustomed to seeing in San Carlos is the price reduction, and that has now happened on about 25% of the homes that are still on the market.
If you were looking for a time to purchase a home without the gut-wrenching experience of multiple offers, there haven't been more favorable conditions like these in a long time.
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 8/7/2022:| San Carlos SFR Data | 8/7/22 | Previous Week |
| Number of Closed Sales: | 3 | 2 |
| Average Sold Price: | $2,691,667 | $3,040,00 |
| Median Sold Price: | $2,500,000 | $3,040,00 |
| Average % Sold vs Orig List Price: | 89% | 103% |
| Average DOM of Closed Sales | 42 | 10 |
| Average $/Sq Foot (Sold) | $1,265 | $1,519 |
| Listings put into Contract: | 3 | 5 |
| Total Homes Pending Sale: | 10 | 10 |
| New Listings: | 5 | 7 |
| Total Active Listings: | 41 | 38 |
| Average Price of Active Listings: | $2,625,762 | $2,704,323 |
| Average DOM of Active Listings: | 29 | 27 |
| Average $/Sq Foot (List) | $1,330 | $1,360 |
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) |
| 139 Windsor Drive | $3,250,000 | $4,150,000 | -$900,000 (-21.7%) | $914 | 78 |
| 1500 Cordilleras Avenue | $2,325,000 | $2,595,000 | -$270,000 (-10.4%) | $1,91 | 42 |
| 1339 Geneva Avenue | $2,500,000 | $2,499,950 | +$50 (+0.0%) | $1,289 | 6 |
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) |
| 1500 Cordilleras Avenue | $2,350,000 | 42 |
| 891 Heather Drive | $2,995,000 | 20 |
| 63 Exeter Avenue | $2,295,000 | 62 |
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 |
| 228 Crestview Drive | $3,300,000 | 5BR/4BA | 3,200/9,006 | $1,031 | Keller Williams |
| 2064 Eucalyptus Avenue | $2,198,000 | 3BR/2BA | 1,400/5,000 | $1,570 | Corcoran |
| 3395 Melendy | $1,998,000 | 3BR/2BA | 1,690/8,250 | $1,182 | Lazar Homes |
| 73 Hilltop Drive | $1,799,000 | 3BR/1.5BA | 2,350/5,500 | $766 | Sothebys |
| 2540 Howard Avenue | $1,589,000 | 2BR/1BA | 1,020/6,815 | $1,558 | Sothebys |
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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