The San Carlos Real Estate Week in Review: 1/2/23

The Recap:

Happy 2023 to everyone! The latest round of storms over the weekend appeared to do quite a bit of damage throughout San Carlos, especially the downtown area. Hopefully nobody else experienced serious issues, but this is a good reminder to make sure your single biggest investment is ready for weather like this. An ounce of prevention is worth a pound of cure, as the saying goes.

2022 is now in the rear view mirror, and what a wild year it was in the San Carlos real estate market. It was almost like two distinctly different years crammed into one, and I'll dive into more detail about that in the year-end review later this week, but suffice it say that the year started off with a bang and ended with a whimper. There were no new listings to report, only a couple of homes closed escrow, and we are starting the year with a paltry inventory of only 12 homes for sale in the entire city. Quite a few homes were taken off the market for the holidays, so expect to see the inventory bump up in January just from those listings reappearing.

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 1/1/2023:

San Carlos SFR Data	1/1/23	Previous Week
Number of Closed Sales:	2	4
Average Sold Price:	$1,642,500	$2,159,972
Median Sold Price:	$1,642,500	$2,094,944
Average % Sold vs Orig List Price:	89%	96%
Average DOM of Closed Sales	63	21
Average $/Sq Foot (Sold)	$1,160	$1,226
Listings put into Contract:	2	1
Total Homes Pending Sale:	11	11
New Listings:	0	0
Total Active Listings:	12	18
Average Price of Active Listings:	$2,809,250	$2,696,667
Average DOM of Active Listings:	53	45
Average $/Sq Foot (List)	$1,332	$1,263

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)
6 Coleman Court	$2,035,000	$2,100,000	-$65,000 (-3.1%)	$1,183	56
343 Fairfield Drive	$1,250,000	$1,560,000	-$310,000 (-19.9%)	$1,136	70

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.