The San Carlos Real Estate Week in Review: 5/29/23

The Recap:

I hope everyone is enjoying their Memorial Day Weekend holiday break! As expected, the pace of new listings dropped significantly from the yearly-high output that we saw the prior week. It was expected because this is a weekend where many buyers take advantage of the three day weekend to duck out of town, so sellers don't want their first open house weekend to be wasted over a holiday.

But Memorial Day Weekend also marks the beginning of our tradition summer. Even though some schools are in session, many people look to get jump start on the summer break, and that void of home buyers is always felt this time of year. Consequently, if you're sticking around for the summer, this is one of the best chances to purchase a home without the intense competition that you'll normally feel in the Spring and Fall markets.

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 5/28/2023:

San Carlos SFR Data	5/28/23	Previous Week
Number of Closed Sales:	4	5
Average Sold Price:	$2,492,500	$2,202,200
Median Sold Price:	$2,300,000	$2,025,000
Average % Sold vs Orig List Price:	104%	96%
Average DOM of Closed Sales	11	13
Average $/Sq Foot (Sold)	$1,373	$1,050
Listings put into Contract:	6	9
Total Homes Pending Sale:	23	21
New Listings:	5	17
Total Active Listings:	36	37
Average Price of Active Listings:	$2,794,188	$2,699,315
Average DOM of Active Listings:	26	23
Average $/Sq Foot (List)	$1,308	$1,309

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)
883 Cordilleras Avenue	$3,800,000	$3,750,000	+$50,000 (+1.3%)	$1,248	0*
872 Bauer Drive	$2,850,000	$2,388,000	+$462,000 (+19.3%)	$1,295	7
https://www.whiteoaksblog.com/1640-Hull-Drive	$1,750,000	$1,798,888	-$48,888 (-2.7%)	$1,101	20
1277 Greenwood Avenue	$1,570,000	$1,618,000	-$48,000 (-3.0%)	$1,847	18

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.