The San Carlos Real Estate Week in Review: 12/5/22

December 5, 2022


The Recap:

We are now in final month of 2022 and in a normal year, things would have already begun to start winding down in the San Carlos real estate market. But this is not a normal year, which is causing both buyers and sellers to rethink the traditional real estate calendar. Most sellers at this point of the year would just wait until Spring to put their home on the market, since it's usually so much quieter this time of year. But with the very real possibility of mortgage rates rising yet again, it now becomes a battle of just time and not the time of the year. Another increase by the Federal Reserve may very likely bump up home mortgage rates again, which will put further downward pressure on home prices.

Because of this dynamic, you can expect to see new listings test the December market as sellers look to beat the rate increase. There are two very nice homes that will hit the market this week — one in White Oaks, and the other on an amazing flat lot with bay views in Beverly Terrace. Contact me for more details on either of these homes.

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 12/4/2022:
San Carlos SFR Data12/4/22Previous Week
Number of Closed Sales:53
Average Sold Price:$2,564,600$2,089,333
Median Sold Price:2,500,000$2,300,000
Average % Sold vs Orig List Price:9695%
Average DOM of Closed Sales2317
Average $/Sq Foot (Sold)$1,270$1,354
Listings put into Contract:22
Total Homes Pending Sale:1316
New Listings:32
Total Active Listings:2624
Average Price of Active Listings:$2,819,726$2,533,235
Average DOM of Active Listings:4315
Average $/Sq Foot (List)$1,311$1,335

864 Bauer Drive

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)
1345 Geneva Avenue$3,800,000$3,998,000-$198,000 (-5.0%)$1,55810
864 Bauer Drive$2,598,000$2,59,8000$0 (0%)$1,2373
3317 Melendy Drive$2,500,000$2,795,000-$295,000 (-10.6%)$80874
2726 Debbie Court$2,100,000$2,189,000-$89,000 (-4.1%)$1,02422
2071 Arroyo Avenue$1,825,000$1,800,000+$25,000 (+1.4%)$1,7224

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)
2708 Brittan Avenue$1,998,00014
980 Springfield Drive$1,495,00038
65 Cedar Street

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
65 Cedar Street$2,698,0004BR/3BA1,830/7,700$1,474Bayshore
1689 Brittan Avenue$2,188,0003BR/2BA1,620/5,800$1,351RE/MAX
957 Hall Street$1,825,0003BR/2BA1,400/4,700$1,304Sothebys

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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