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 Data | 10/16/22 | Previous Week |
| Number of Closed Sales: | 1 | 6 |
| 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 Sales | 127 | 13 |
| Average $/Sq Foot (Sold) | $1,180 | $1,351 |
| Listings put into Contract: | 4 | 5 |
| Total Homes Pending Sale: | 23 | 20 |
| New Listings: | 3 | 9 |
| Total Active Listings: | 32 | 34 |
| Average Price of Active Listings: | $2,596,115 | $2,671,991 |
| Average DOM of Active Listings: | 37 | 37 |
| Average $/Sq Foot (List) | $1,311 | $1,311 |
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) |
| 1950 Brittan Avenue | $1,900,000 | $2,250,000 | -$350,000 (-15.6%) | $1,180 | 127 |
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) |
| 1341 Saint Francis Way | $2,450,000 | 27 |
| 470 Emerald Avenue | $2,150,000 | 63 |
| 290 Oakview Drive | $3,099,000 | 27 |
| 2096 Birch Avenue | $2,400,000 | 7 |
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 |
| 1925 Howard Avenue | $2,125,000 | 3BR/2BA | 1,381/4,560 | $1,556 | Whearley & Company |
| 213 Kelton Avenue | $1,988,000 | 3BR/1BA | 1,340/4,650 | $1,484 | Ektra |
| 1929 Cedar Street | $1,988,000 | 3BR/2BA | 1,320/4,480 | $1,506 | Compass |
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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