The San Carlos Real Estate Week in Review: 10/17/22

October 17, 2022


The Recap:

This week's data is indicative of a market that has been pumping the brakes for a few weeks. There was only one sale to close in San Carlos, and it did so at 16% below its asking price. Only 4 homes were put into contract, so the inventory of homes for sale is still sitting relatively fat at 32 homes for sale.

Based on last week's inflation index reports, there will very likely be another increase in interest rates when the Fed meets again in November. That will put even more pressure on buyers to get into contract before the lending institutions react in kind and raise their rates again.

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 10/16/2022:
San Carlos SFR Data10/16/22Previous Week
Number of Closed Sales:16
Average Sold Price:$1,900,000$2,354,167
Median Sold Price:$1,900,000$2,262,500
Average % Sold vs Orig List Price:84%97%
Average DOM of Closed Sales12713
Average $/Sq Foot (Sold)$1,180$1,351
Listings put into Contract:45
Total Homes Pending Sale:2320
New Listings:39
Total Active Listings:3234
Average Price of Active Listings:$2,596,115$2,671,991
Average DOM of Active Listings:3737
Average $/Sq Foot (List)$1,311$1,311

1950 Brittan 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)
1950 Brittan Avenue$1,900,000$2,250,000-$350,000 (-15.6%)$1,180127

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)
1341 Saint Francis Way$2,450,00027
470 Emerald Avenue$2,150,00063
290 Oakview Drive$3,099,00027
2096 Birch Avenue$2,400,0007
213 Kelton Avenue

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
1925 Howard Avenue$2,125,0003BR/2BA1,381/4,560$1,556Whearley & Company
213 Kelton Avenue$1,988,0003BR/1BA1,340/4,650$1,484Ektra
1929 Cedar Street$1,988,0003BR/2BA1,320/4,480$1,506Compass

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.

Posted in:

Leave a Comment