The San Carlos Real Estate Week in Review: 10/10/22

October 10, 2022

The Recap:

Once again this past week, there were as many homes that sold below their respective asking price than above in San Carlos. Since these were all contracts that were signed roughly a month ago, it really highlights the rapid transition that we were seeing in the market then, and we are still seeing right now as some sellers are forced to reset their expectation on the value of their home.

This past week also saw a big jump in the number of new listings, including one listing that tops $7M (see below) bringing the total inventory of homes for sale back up to 33.

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 10/10/2022:
San Carlos SFR Data10/10/22Previous Week
Number of Closed Sales:66
Average Sold Price:$2,354,167$2,640,360
Median Sold Price:$2,262,500$2,806,500
Average % Sold vs Orig List Price:97%104%
Average DOM of Closed Sales1319
Average $/Sq Foot (Sold)$1,351$1,181
Listings put into Contract:55
Total Homes Pending Sale:2021
New Listings:93
Total Active Listings:3431
Average Price of Active Listings:$2,671,991$2,561,180
Average DOM of Active Listings:3738
Average $/Sq Foot (List)$1,311$1,295

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)
3308 Melendy Drive$3,100,000$3,298,000-$198,000 (-6.0%)$1,2557
228 Crestview Drive$2,800,000$3,300,000-$500,000 (-15.2%)$87536
66 Chestnut Street$2,500,000$2,425,000+$75,000 (+3.1%)$1,4620
127 Wildwood Avenue$2,025,000$1,998,000+$27,000 (+1.4%)$1,6747
916 Elm Street$1,900,000$1,749,000+$151,000 (+8.6%)$1,7766
3395 Melendy Drive$1,800,000$1,998,000-$198,000 (-9.9%)$1,06524

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)
130 Pearl Avenue$2,299,0000
2312 Howard Avenue$2,400,0000
2071 Arroyo Avenue$1,800,0004
3317 Melendy Drive$2,595,00074
760 Sunset Drive$2,295,00022

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
1880 Carmelita Drive$7,250,0006BR/6BA4,736/21,500$1,531Sothebys
224 Fairmont Avenue$2,970,0004BR/2.5BA1,945/5,550$1,527Urban Properties
15 Krista Lane$2,695,0004BR/3BA2,640/14,375$1,021Compass
348 Laurel Street$2,495,0004BR/1.5BA1,900/10,400$1,313Compass
2096 Birch Avenue$2,400,0003BR/2BA1,627/5,000$1,475Coldwell Banker
1221 Crestview Drive$2,388,0003BR/2.5BA2,300/8,352$1,038Keller Williams
1630 Hull Drive$1,998,0003BR/1.5BA1,590/7,320$1,257Intero
1630 Hull Drive$1,998,0003BR/1.5BA1,590/7,320$1,257Intero
2350 San Carlos Avenue$1,795,0002BR/1BA1,010/6,446$1,777Real Estate Experts

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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