The San Carlos Real Estate Week in Review: 10/24/22

October 24, 2022

Week-in-Review-5

The Recap:

The sold data below pretty much illustrates what is happening in the San Carlos real estate market right now. Every home that closed last week sold below its original list price — in some cases well below. Except for those few times where only one home sold in a given week, this is the first time that I can recall seeing so much red ink in the sales column since starting this column 15 years ago. But that is the reality of the real estate market today — homes are indeed selling, but prices are dropping, and in big steps. This isn't to say that every home that sells will take a haircut. There were two homes that went pending this past week that not only got multiple offers, but also garnered small premiums above their respective asking prices. But that's going to be the exception for a few weeks until this market finds a balance point.

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 10/23/2022:
San Carlos SFR Data10/23/22Previous Week
Number of Closed Sales:81
Average Sold Price:$2,4025,625$1,900,000
Median Sold Price:$2,175,000$1,900,000
Average % Sold vs Orig List Price:91%84%
Average DOM of Closed Sales43127
Average $/Sq Foot (Sold)$1,045$1,180
Listings put into Contract:54
Total Homes Pending Sale:2023
New Listings:53
Total Active Listings:3132
Average Price of Active Listings:$2,721,071$2,596,115
Average DOM of Active Listings:4137
Average $/Sq Foot (List)$1,260$1,311

150 Dolton 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. ListOver/Under List$/sq footDOM (days)
150 Dolton Avenue$3,350,000$3,699,950-$349,950 (-9.5%)$99770
914 Crestview Drive$2,850,000$3,000,000-$150,000 (-5.0%)$94724
1030 Crestview Drive$2,700,000$2,945,000-$245,000 (-8.3%)$1,10235
2653 San Carlos Avenue$2,395,000$2,200,000-$195,000 (-8.1%)$93649
130 Pearl Avenue$2,150,000$2,299,000-$149,000 (-6.5%)$1,0007
2701 Eaton Avenue$2,100,000$2,299,888-$199,888 (-8.7%)$1,06668
2721 Victoria Manor$1,995,000$2,548,800-$553,800 (-21.7%)$1,27978
132 Winding Way$1,900,000$1,988,000-$88,000 (-4.4%)$1,03010

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)
348 Laurel Street$2,495,00012
1574 Gover Lane$2,395,00028
1925 Howard Avenue$2,150,0007
1929 Cedar Street$1,988,0007
15 Krista Lane$2,695,00012
46 Club Drive

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
60 Ensenada Road$4,250,0005BR/5BA3,566/8,110$1,191Sothebys
46 Club Drive$3,100,0005BR/2.5BA2,737/7.150$1,136Coldwell Banker
205 Timothy Drive$2,795,0003BR/2.5BA2,130/8,008$1,312Sereno
237 Hillcrest Road$2,789,0004BR/3BA2,210/7,050$1,262Sothebys
980 Springfield Drive$1,549,5003BR/2BA1,480/6,215$1,047Intero

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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