The San Carlos Real Estate Week in Review: 5/15/23

The Recap:

Home buying activity remained strong last week in the San Carlos real estate market. All of the five homes that were put into contract were on the market for a week or less, and five of the six homes that closed escrow last week enjoyed 6-figure premiums over the list price. Both of these are strong indicators of a market that continues to heat up as the year progresses.

A number of the homes that have been on the market for a number of weeks have reduced their list prices to get back into play as we enter the latter half of May. If this is year follows the normal buy/sell cycle, buying activity will start to decrease when we hit June. Weddings, graduations, and vacations all compete for the mind share of home buyers this time of year, so it's important for sellers to set the hook in the remaining weeks of the Spring 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 5/14/2023:

San Carlos SFR Data	5/14/23	Previous Week
Number of Closed Sales:	6	6
Average Sold Price:	$2,807,500	$2,779,883
Median Sold Price:	$2,837,500	$2,554,500
Average % Sold vs Orig List Price:	109%	104%
Average DOM of Closed Sales	9	7
Average $/Sq Foot (Sold)	$1,295	$1,146
Listings put into Contract:	5	5
Total Homes Pending Sale:	16	17
New Listings:	6	6
Total Active Listings:	26	25
Average Price of Active Listings:	$2,858,333	$2,883,869
Average DOM of Active Listings:	27	29
Average $/Sq Foot (List)	$1,306	$1,287

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)
181 Coventry Court	$4,250,000	$3,795,000	+$455,000 (+12.0%)	$1,518	7
228 Club Drive	$3,050,000	$2,598,000	+$452,000 (+17.4%)	$1,329	7
198 Cedar Street	$3,000,000	$2,895,000	+$105,000 (+3.6%)	$1,269	27
777 Cordilleras Avenue	$2,675,000	$2,398,000	+$277,000 (+11.6%)	$1,068	3
45 Shelford Avenue	$2,120,000	$1,949,000	+$171,000 (+8.8%)	$1,457	8
253 Edgehill Drive	$1,750,000	$1,750,000	$0 (0%)	$1,129	4

San Carlos Single-Family Homes Pending Sale

The following single-family homes were put into contract in San Carlos last week. Click on the address of each home to see more details and photos:

Address	List Price	DOM (days)
883 Cordilleras Avenue	$3,750,000	0
872 Bauer Drive	$2,388,000	7
521 Vista Avenue	$2,598,000	7
1967 Saint Francis Way	$1,698,000	6
120 Plymouth Avenue	$3,050,000	7

San Carlos New Single-Family Home Listings

Below are the new listings that hit the market this past week in San Carlos. Click on the address of each home to see more details and photos:

Address	List Price	BR/BA	Sq Ft (home/lot)	$/Square Foot	Listed By
2527 1/2 Graceland Avenue	$3,488,000	5BR/3.5BA	3,947/11,670	$884	Guide
936 Heather Drive	$3,188,000	4BR/3BA	2,425/20,611	$1,319	Christies
1022 Rosewood Avenue	$2,495,000	3BR/2BA	2,160/9,800	$1,155	Better Homes
347 Devonshire Boulevard	$2,098,000	3BR/2BA	1,980/12,075	$1,060	Christies
2818 Roland Avenue	$1,899,000	4BR/2BA	1,870/5,280	$1,016	Coldwell Banker
2071 Arroyo Avenue	$1,750,000	2BR/1BA	1,060/5,000	$1,650	RealSmart

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.