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 Data | 12/4/22 | Previous Week |
| Number of Closed Sales: | 5 | 3 |
| Average Sold Price: | $2,564,600 | $2,089,333 |
| Median Sold Price: | 2,500,000 | $2,300,000 |
| Average % Sold vs Orig List Price: | 96 | 95% |
| Average DOM of Closed Sales | 23 | 17 |
| Average $/Sq Foot (Sold) | $1,270 | $1,354 |
| Listings put into Contract: | 2 | 2 |
| Total Homes Pending Sale: | 13 | 16 |
| New Listings: | 3 | 2 |
| Total Active Listings: | 26 | 24 |
| Average Price of Active Listings: | $2,819,726 | $2,533,235 |
| Average DOM of Active Listings: | 43 | 15 |
| Average $/Sq Foot (List) | $1,311 | $1,335 |
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) |
| 1345 Geneva Avenue | $3,800,000 | $3,998,000 | -$198,000 (-5.0%) | $1,558 | 10 |
| 864 Bauer Drive | $2,598,000 | $2,59,8000 | $0 (0%) | $1,237 | 3 |
| 3317 Melendy Drive | $2,500,000 | $2,795,000 | -$295,000 (-10.6%) | $808 | 74 |
| 2726 Debbie Court | $2,100,000 | $2,189,000 | -$89,000 (-4.1%) | $1,024 | 22 |
| 2071 Arroyo Avenue | $1,825,000 | $1,800,000 | +$25,000 (+1.4%) | $1,722 | 4 |
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) |
| 2708 Brittan Avenue | $1,998,000 | 14 |
| 980 Springfield Drive | $1,495,000 | 38 |
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 |
| 65 Cedar Street | $2,698,000 | 4BR/3BA | 1,830/7,700 | $1,474 | Bayshore |
| 1689 Brittan Avenue | $2,188,000 | 3BR/2BA | 1,620/5,800 | $1,351 | RE/MAX |
| 957 Hall Street | $1,825,000 | 3BR/2BA | 1,400/4,700 | $1,304 | Sothebys |
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: