The San Carlos Real Estate Week in Review: 2/6/23

The Recap:

The good news this past week in the San Carlos real estate market is that home buyers appear to be getting back into the market in earnest. Five homes were put into contract last week in San Carlos and three of them had only been on the market for a week. There was another home in the Oak Park neighborhood that didn't even make it to market because an eager buyer snapped it up during the listing preparation phase.

This was actually considered normal behavior over the past 15 years while the market climbed, but it's not something we've seen in the past 6 months. It's too early to tell if this is a legitimate trend back upward, or just a bounce in a year that will probably have a fair share of bounces, but there are some indications in the numbers that the free-fall in the local market may be indeed ending.

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 2/5/2023:

San Carlos SFR Data	2/5/23	Previous Week
Number of Closed Sales:	2	1
Average Sold Price:	$1,812,500	$2,100,000
Median Sold Price:	$1,812,500	$2,100,000
Average % Sold vs Orig List Price:	86%	75%
Average DOM of Closed Sales	60	55
Average $/Sq Foot (Sold)	$1,015	$950
Listings put into Contract:	5	2
Total Homes Pending Sale:	14	11
New Listings:	3	2
Total Active Listings:	10	12
Average Price of Active Listings:	$2,555,195	$2,629,487
Average DOM of Active Listings:	33	30
Average $/Sq Foot (List)	$1,335	$1,361

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)
1221 Crestview Drive	$2,000,000	$2,388,000	-$388,000 (-16.2%)	$870	89
957 Hall Street	$1,625,000	$1,825,000	-$200,000 (-11.0%)	$1,161	31

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.