The San Carlos Real Estate Week in Review: 10/24/22
October 24, 2022
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 Data | 10/23/22 | Previous Week |
| Number of Closed Sales: | 8 | 1 |
| 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 Sales | 43 | 127 |
| Average $/Sq Foot (Sold) | $1,045 | $1,180 |
| Listings put into Contract: | 5 | 4 |
| Total Homes Pending Sale: | 20 | 23 |
| New Listings: | 5 | 3 |
| Total Active Listings: | 31 | 32 |
| Average Price of Active Listings: | $2,721,071 | $2,596,115 |
| Average DOM of Active Listings: | 41 | 37 |
| Average $/Sq Foot (List) | $1,260 | $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 | Over/Under List | $/sq foot | DOM (days) |
| 150 Dolton Avenue | $3,350,000 | $3,699,950 | -$349,950 (-9.5%) | $997 | 70 |
| 914 Crestview Drive | $2,850,000 | $3,000,000 | -$150,000 (-5.0%) | $947 | 24 |
| 1030 Crestview Drive | $2,700,000 | $2,945,000 | -$245,000 (-8.3%) | $1,102 | 35 |
| 2653 San Carlos Avenue | $2,395,000 | $2,200,000 | -$195,000 (-8.1%) | $936 | 49 |
| 130 Pearl Avenue | $2,150,000 | $2,299,000 | -$149,000 (-6.5%) | $1,000 | 7 |
| 2701 Eaton Avenue | $2,100,000 | $2,299,888 | -$199,888 (-8.7%) | $1,066 | 68 |
| 2721 Victoria Manor | $1,995,000 | $2,548,800 | -$553,800 (-21.7%) | $1,279 | 78 |
| 132 Winding Way | $1,900,000 | $1,988,000 | -$88,000 (-4.4%) | $1,030 | 10 |
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) |
| 348 Laurel Street | $2,495,000 | 12 |
| 1574 Gover Lane | $2,395,000 | 28 |
| 1925 Howard Avenue | $2,150,000 | 7 |
| 1929 Cedar Street | $1,988,000 | 7 |
| 15 Krista Lane | $2,695,000 | 12 |
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 |
| 60 Ensenada Road | $4,250,000 | 5BR/5BA | 3,566/8,110 | $1,191 | Sothebys |
| 46 Club Drive | $3,100,000 | 5BR/2.5BA | 2,737/7.150 | $1,136 | Coldwell Banker |
| 205 Timothy Drive | $2,795,000 | 3BR/2.5BA | 2,130/8,008 | $1,312 | Sereno |
| 237 Hillcrest Road | $2,789,000 | 4BR/3BA | 2,210/7,050 | $1,262 | Sothebys |
| 980 Springfield Drive | $1,549,500 | 3BR/2BA | 1,480/6,215 | $1,047 | Intero |
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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