The San Carlos Real Estate Week in Review: 7/17/23
July 17, 2023
The Recap:
It's becoming apparent that since the pandemic completely upended our calendar of life, the real estate market has yet to bounce back to the normal market cycles that we have long grown accustomed to. How else could one explain why it's so busy in July when it's normally one of the slower months of the real estate calendar? The late, wet winter we had probably had an impact on the spring buying season starting a little later. But whatever the reason, the market is still busy and is gaining momentum again.
Five homes were once again put into contract in San Carlos, and that pulled the inventory of homes for sale back down 17 total, which is getting back into that lean range. Of those 17 homes, 12 have been on the market for 3 weeks or longer, so there's not much new inventory for buyers to choose from right now unless we get another surge of new listings in the coming weeks. That may not happen in the month of July, but August should bring another wave of new listings to keep things moving.
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 7/16/2023:| San Carlos SFR Data | 7/16/23 | Previous Week |
|---|---|---|
| Number of Closed Sales: | 5 | 5 |
| Average Sold Price: | $2,217,683 | $2,602,000 |
| Median Sold Price: | $2,021,416 | $2,140,000 |
| Average % Sold vs Orig List Price: | 101% | 111% |
| Average DOM of Closed Sales | 18 | 10 |
| Average $/Sq Foot (Sold) | $1,135 | $1,309 |
| Listings put into Contract: | 5 | 2 |
| Total Homes Pending Sale: | 14 | 14 |
| New Listings: | 3 | 5 |
| Total Active Listings: | 17 | 20 |
| Average Price of Active Listings: | $3,266,111 | $2,916,833 |
| Average DOM of Active Listings: | 46 | 38 |
| Average $/Sq Foot (List) | $1,230 | $1,216 |
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 home to see more details and photos:| Address | Sold Price | Orig. List | Over/Under List | $/sq foot | DOM (days) |
|---|---|---|---|---|---|
| 212 Bay View Drive | $2,712,000 | $2,400,000 | +$312,000 (+13.0%) | $1,317 | 7 |
| 38 Cobblestone Lane | $2,700,000 | $2,998,000 | -$298,000 (-9.9%) | $823 | 25 |
| 1416 Magnolia Avenue | $2,021,416 | $1,795,000 | +$226,416 (+12.6%) | $1,531 | 6 |
| 347 Devonshire Boulevard | $1,980,000 | $2,098,000 | -$118,000 (-5.6%) | $1,000 | 32 |
| 135 Chesham Avenue | $1,675,000 | $1,800,000 | -$125,000 (-6.9%) | $1,003 | 20 |
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) |
|---|---|---|
| 135 Mesa Verde Way | $2,800,000 | 0* |
| 1107 Cedar Street | $2,049,000 | 11 |
| 120 Northam Avenue | $1,788,000 | 6 |
| 123 Lyndhurst Avenue | $2,498,000 | 7 |
| 1357 Walnut Street | $1,568,000 | 6 |
*Days on market that are noted with an asterisk (*) signify that the home was sold off-MLS, or as a Member's Only listing, which is also why there is no active link for the listing.
San Carlos New Single-Family Home Listings
Below are the new listings that hit the MLS 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 |
|---|---|---|---|---|---|
| 518 Canyon Vista Way | $5,295,000 | 4BR/4.5BA | 3,460/22,977 | $1,530 | Compass |
| 355 Oakview Drive | $2,298,000 | 3BR/2BA | 1,883/8,800 | $1,220 | Intero |
| 1550 Brittan Avenue | $1,995,000 | 3BR/2BA | 2,010/5,000 | $993 | Kenny |
San Carlos Off-Market and Coming Soon Listings
The following San Carlos homes are either for sale off of the MLS, or are coming soon. Contact me directly if you have any questions about these homes.| Address | List Price | BR/BA | Sq Ft (home/lot) | $/Square Foot | Listed By |
|---|---|---|---|---|---|
| 108 Queens Court | $6,595,000 | 5BR/4.5BA | 5,485/23,376 | $1,202 | Compass |
| 2133 Greenwood Avenue | $2,295,000 | 2BR/2BA | 1,463/6,298 | $1,569 | Compass |
| 2238 Brittan Avenue | $1,488,000 | 2BR/1BA | 1,080/5,005 | $1,376 | Compass |
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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