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

January 23, 2023

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The Recap:

There were some encouraging signs last week in the San Carlos real estate market. Certainly, the listing activity picked up from the previous week with 5 new listings entering the market, although one of those is a re-listings from last year. This is good news because it indicates that sellers are confident enough to sell in this new market of higher interest rates. I'm having discussions with a number of sellers who definitely plan to list their homes this Spring, so it's evident that it's not going to be crickets in the first half of this year, like numerous news articles are predicting.

Despite the higher interest rates and all of the hype about layoffs, there are still more buyers in this market than there are homes for sale, and that fundamental disparity will keep the market moving forward in 2023.

Here are the 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 1/22/2023:
San Carlos SFR Data1/22/23Previous Week
Number of Closed Sales:15
Average Sold Price:$1,835,000$2,492,000
Median Sold Price:$1,835,000$2,130,000
Average % Sold vs Orig List Price:94%95%
Average DOM of Closed Sales3351
Average $/Sq Foot (Sold)$1,169$1,289
Listings put into Contract:22
Total Homes Pending Sale:108
New Listings:53
Total Active Listings:129
Average Price of Active Listings:$2,547,450$2,665,000
Average DOM of Active Listings:2531
Average $/Sq Foot (List)$1,391$1,389

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)
628 Alameda$1,835,000$1,950,000-$115,000 (-5.9%)$1,16933

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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