The San Carlos Real Estate Week in Review: 1/30/23

The Recap:

The inventory of homes for sale in San Carlos remains scarce as we finish the first month of the new year. There are only 12 single-family homes for sale in the entire city. But San Carlos is not alone in that respect. Belmont, our similar-sized neighbor to the north, has only 3 homes on the market and Redwood City is at only about 2/3 of their normal inventory with 45 (bear in mind that Redwood City has 3x the population of San Carlos).

This will help keep prices somewhat stable as opposed to a market with a glut of inventory. But it does not give buyers a whole lot choose from, and that can keep some buyers on the sidelines who would otherwise be ideal buyers in this market.

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 1/29/2023:

San Carlos SFR Data	1/29/23	Previous Week
Number of Closed Sales:	1	1
Average Sold Price:	$2,100,000	$1,835,000
Median Sold Price:	$2,100,000	$1,835,000
Average % Sold vs Orig List Price:	75%	94%
Average DOM of Closed Sales	55	33
Average $/Sq Foot (Sold)	$950	$1,169
Listings put into Contract:	2	2
Total Homes Pending Sale:	11	10
New Listings:	2	5
Total Active Listings:	12	12
Average Price of Active Listings:	$2,629,487	$2,547,450
Average DOM of Active Listings:	30	25
Average $/Sq Foot (List)	$1,361	$1,391

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)
237 Hillcrest Road	$2,100,000	$2,789,000	-$689,000 (-24.7%)	$1,169	55

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.