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 Data7/16/23Previous Week
Number of Closed Sales:55
Average Sold Price:$2,217,683$2,602,000
Median Sold Price:$2,021,416
Average % Sold vs Orig List Price:101%111%
Average DOM of Closed Sales1810
Average $/Sq Foot (Sold)$1,135$1,309
Listings put into Contract:52
Total Homes Pending Sale:1414
New Listings:35
Total Active Listings:1720
Average Price of Active Listings:$3,266,111$2,916,833
Average DOM of Active Listings:4638
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:
AddressSold PriceOrig. ListOver/Under List$/sq footDOM (days)
212 Bay View Drive$2,712,000$2,400,000+$312,000 (+13.0%)$1,3177
38 Cobblestone Lane$2,700,000$2,998,000-$298,000 (-9.9%)$82325
1416 Magnolia Avenue$2,021,416$1,795,000+$226,416 (+12.6%)$1,5316
347 Devonshire Boulevard$1,980,000$2,098,000-$118,000 (-5.6%)$1,00032
135 Chesham Avenue$1,675,000$1,800,000-$125,000 (-6.9%)$1,00320
38 Cobblestone Lane

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:
AddressList PriceDOM (days)
135 Mesa Verde Way$2,800,0000*
1107 Cedar Street$2,049,00011
120 Northam Avenue$1,788,0006
123 Lyndhurst Avenue$2,498,0007
1357 Walnut Street$1,568,0006

*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:
AddressList PriceBR/BASq Ft (home/lot) $/Square FootListed By
518 Canyon Vista Way$5,295,0004BR/4.5BA3,460/22,977$1,530Compass
355 Oakview Drive$2,298,0003BR/2BA1,883/8,800$1,220Intero
1550 Brittan Avenue$1,995,0003BR/2BA2,010/5,000$993Kenny
518 Canyon Vista Way

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.
AddressList PriceBR/BASq Ft (home/lot) $/Square FootListed By
108 Queens Court$6,595,0005BR/4.5BA5,485/23,376$1,202Compass
2133 Greenwood Avenue$2,295,0002BR/2BA1,463/6,298$1,569Compass
2238 Brittan Avenue$1,488,0002BR/1BA1,080/5,005$1,376Compass

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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