The San Carlos Real Estate Week in Review: 4/24/23

The Recap:

The buying behavior last week succinctly captured what is happening in the San Carlos market — not very many homes are going into contract in comparison to the overall inventory, but those that do go under contract are doing so pretty quickly. Just look at last week's numbers: Only four homes went pending, but three of those four barely lasted a full week on the market.

Yet on the flip side, there are still 28 homes with an average days-on-market of nearly a month that are still looking for new owners. This is a strong indicator that home buyers are still being very value conscious and deliberate in their decision making, despite indications that prices are starting to increase again. But they aren't jumping at homes that don't meet their feature/value expectations as they did when the market was at its peak.

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 4/23/2023:

San Carlos SFR Data	4/23/23	Previous Week
Number of Closed Sales:	7	4
Average Sold Price:	$2,157,000	$2,554,500
Median Sold Price:	$2,200,000	$2,634,000
Average % Sold vs Orig List Price:	102%	105%
Average DOM of Closed Sales	11	12
Average $/Sq Foot (Sold)	$1,239	$1,235
Listings put into Contract:	4	2
Total Homes Pending Sale:	17	20
New Listings:	6	7
Total Active Listings:	28	26
Average Price of Active Listings:	$2,767,597	$2,789,836
Average DOM of Active Listings:	26	20
Average $/Sq Foot (List)	$1,318	$1,313

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)
3457 La Mesa Drive	$2,650,000	$2,499,000	+$151,000 (+6.0%)	$1,152	6
1316 Rosewood Avenue	$2,575,000	$2,788,000	-$213,000 (-7.6%)	$1,351	38
135 Manor Drive	$2,200,000	$2,099,000	+$101,000 (+4.8%)	$1,078	0
919 Tamarack Avenue	$2,200,000	$2,100,000	+$100,000 (+4.8%)	$1,325	6
412 Sycamore Street	$2,125,000	$2,070,000	+$55,000 (+2.7%)	$1,313	13
30 Maple Way	$2,100,000	$1,995,000	+$105,000 (+5.3%)	$1,243	8
1063 Hall Street	$1,249,000	$1,249,000	$0 (0%)	$1,213	7

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.