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 Data8/7/22Previous Week
Number of Closed Sales:32
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 Sales4210
Average $/Sq Foot (Sold)$1,265$1,519
Listings put into Contract:35
Total Homes Pending Sale:1010
New Listings:57
Total Active Listings:4138
Average Price of Active Listings:$2,625,762$2,704,323
Average DOM of Active Listings:2927
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.
AddressSold PriceOrig. ListPremium Over List$/sq footDOM (days)
139 Windsor Drive$3,250,000$4,150,000-$900,000 (-21.7%)$91478
1500 Cordilleras Avenue$2,325,000$2,595,000-$270,000 (-10.4%)$1,9142
1339 Geneva Avenue$2,500,000$2,499,950+$50 (+0.0%)$1,2896

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)
1500 Cordilleras Avenue$2,350,00042
891 Heather Drive$2,995,00020
63 Exeter Avenue$2,295,00062

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
228 Crestview Drive$3,300,0005BR/4BA3,200/9,006$1,031Keller Williams
2064 Eucalyptus Avenue$2,198,0003BR/2BA1,400/5,000$1,570Corcoran
3395 Melendy$1,998,0003BR/2BA1,690/8,250$1,182Lazar Homes
73 Hilltop Drive$1,799,0003BR/1.5BA2,350/5,500$766Sothebys
2540 Howard Avenue$1,589,0002BR/1BA1,020/6,815$1,558Sothebys

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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