The San Carlos Real Estate Week in Review: 6/19/23
June 19, 2023
The Recap:
Hey everyone! I hope all of the Dads out there had a very Happy Father's Day. Just a reminder – If you read this post each week from your email, you need to click through to the site to see the actual data tables since they do not come through in the email version of the post.
Sales activity in San Carlos remained surprisingly brisk for mid-June. Eight homes were put into contract last week, while four listings opted to test the the summer market. There was some good news on the economic front as the Federal Reserve opted to not raise their interest rates in what would have been the 11th consecutive increase in rates. There's still a possibility, and even a likelihood, of rate increases in future months. But for now, this creates a great buying environment for home shoppers since rates will likely dip a bit between now and the next rate increase.
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 6/18/2023:| San Carlos SFR Data | 6/18/23 | Previous Week |
|---|---|---|
| Number of Closed Sales: | 8 | 5 |
| Average Sold Price: | $2,643,500 | $2,346,000 |
| Median Sold Price: | $2,455,000 | $2,250,000 |
| Average % Sold vs Orig List Price: | 103% | 103% |
| Average DOM of Closed Sales | 24 | 5 |
| Average $/Sq Foot (Sold) | $1,250 | $1,437 |
| Listings put into Contract: | 8 | 7 |
| Total Homes Pending Sale: | 22 | 22 |
| New Listings: | 4 | 2 |
| Total Active Listings: | 23 | 24 |
| Average Price of Active Listings: | $2,566,203 | $2,787,986 |
| Average DOM of Active Listings: | 35 | 36 |
| Average $/Sq Foot (List) | $1,267 | $1,437 |
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) |
|---|---|---|---|---|---|
| 1935 Belle Avenue | $3,850,000 | $4,188,000 | -$338,000 (-8.1%) | $1,446 | 88 |
| 936 Heather Drive | $3,550,000 | $3,198,000 | +$352,000 (+11.0%) | $1,464 | 10 |
| 125 Bay View Drive | $3,100,000 | $3,098,000 | +$2,000 (+0.0%) | $906 | 10 |
| 1080 Porto Marino Drive | $2,600,000 | $2,385,000 | +$215,000 (+11.0%) | $1,333 | 7 |
| 1373 Elm Street | $2,310,000 | $2,499,000 | -$189,000 (-7.6%) | $1,222 | 50 |
| 2818 Roland Avenue | $2,171,000 | $1,899,000 | +$272,000 (+14.3%) | $1,161 | 5 |
| 1967 Saint Francis Way | $1,967,000 | $1,698,000 | +$269,000 (+15.8%) | $1,137 | 6 |
| 2641 San Carlos Avenue | $1,600,000 | $1,795,000 | -$195,000 (-10.9%) | $1,333 | 21* |
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.
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