The San Carlos Real Estate Week in Review: 4/17/23

The Recap:

Last week was a bit of an inversion in activity compared to the prior 2-3 weeks in that the home sellers in San Carlos outnumbered the home buyers. There were seven new listings that entered the fray last week, but only two homes were put into contract. This lull can more than likely be attributed to the Easter break last week, because it seemed like many buyers were out of town last week taking advantage of the incredible ski conditions in the Sierras.

But don't let the lull fool you. You can see from the sold prices below that the market is once again getting competitive for buyers. Three of the four homes that closed last week were able to fetch premium over their asking price, with one landing over 14% above the list price. That's something we haven't seen in a few months, and it's just adding to the evidence that the housing market in San Carlos is slowly heating back up again. At the risk of repeating myself, if you're on the sidelines waiting for “the bottom”, you're running the risk of missing a great opportunity to get into San Carlos.

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 4/16/2023:

San Carlos SFR Data	4/16/23	Previous Week
Number of Closed Sales:	4	2
Average Sold Price:	$2,554,500	$2,299,500
Median Sold Price:	$2,634,000	$2,299,500
Average % Sold vs Orig List Price:	105%	100%
Average DOM of Closed Sales	12	6
Average $/Sq Foot (Sold)	$1,235	$973
Listings put into Contract:	2	9
Total Homes Pending Sale:	20	22
New Listings:	7	1
Total Active Listings:	26	22
Average Price of Active Listings:	$2,789,836	$2,767,174
Average DOM of Active Listings:	20	23
Average $/Sq Foot (List)	$1,313	$1,343

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)
130 Pearl Avenue	$2,800,000	$2,680,000	+$120,000 (+4.5%)	$1,302	19
2829 Tramanto Drive	$2,800,000	$2,450,000	+$350,000 (+14.3%)	$1,233	8
60 Chilton Avenue	$2,468,000	$2,388,000	+$80,000 (+3.4%)	$1,487	4
103 Mirabel Place	$2,150,000	$2,198,888	-$48,888 (-2.2%)	$919	17

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.