The San Carlos Real Estate Week in Review: 8/28/23
August 28, 2023
The Recap:
Let the Fall real estate market begin! Last week was indeed a busy one in the San Carlos real estate market. As I have predicted in numerous articles on this site, the traditional Fall market now starts a week or two before Labor Day weekend, not afterward as it has in the past. School seems to start in mid-August for most students, so vacations are ending sooner and buyers are back in the market sooner.
Nine new listings entered the market last week, and eight of the existing inventory were put into contract. I had two different listings open this past weekend and the traffic was solid both days. Buyers are definitely out in numbers, and while we are not yet back to the crazy market of a year ago, the pace of the buying activity is definitely picking up. And this is despite mortgage interest rates which are stubbornly stuck in the mid 7% range.
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 8/27/2023:| San Carlos SFR Data | 8/27/23 | Previous Week |
|---|---|---|
| Number of Closed Sales: | 2 | 3 |
| Average Sold Price: | $4,225,001 | $2,206,667 |
| Median Sold Price: | $4,225,001 | $2,195,000 |
| Average % Sold vs Orig List Price: | 109% | 103% |
| Average DOM of Closed Sales | 20 | 9 |
| Average $/Sq Foot (Sold) | $1,396 | $1,224 |
| Listings put into Contract: | 8 | 6 |
| Total Homes Pending Sale: | 20 | 14 |
| New Listings: | 9 | 8 |
| Total Active Listings: | 22 | 22 |
| Average Price of Active Listings: | $2,695,864 | $2,622,438 |
| Average DOM of Active Listings: | 24 | 23 |
| Average $/Sq Foot (List) | $1,171 | $1.152 |
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) |
|---|---|---|---|---|---|
| 1955 Carmelita Drive | $5,450,000 | $5,600,000 | -$150,000 (-2.7%) | $1,548 | 34 |
| 793 Cedar Street | $3,000,002 | $2,500,000 | +$500,002 (+20.0%) | $1,245 | 6 |
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) |
|---|---|---|
| 2331 Brittan Avenue | $1,749,000 | 11 |
| 239 Shelford Avenue | $2,098,800 | 10 |
| 861 Sunset Drive | $2,200,000 | 7 |
| 1655 Alameda | $1,775,000 | 8 |
| 44 Sequoia Court | $2,695,000 | 8 |
| 2413 Graceland Avenue | $1,849,000 | 16 |
| 112 Exeter Avenue | $1,948,000 | 7 |
| 20 Chilton Avenue | $1,948,000 | 1 |
*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 |
|---|---|---|---|---|---|
| 112 Belvedere Avenue | $2,748,000 | 4BR/3BA | 2,161/4,600 | $1,272 | Redfin |
| 2056 White Oak Way | $2,588,000 | 3BR/2BA | 2,071/6,780 | $1,249 | Coldwell Banker |
| 1016 Sunset Drive | $2,550,000 | 3BR/2.5BA | 2,680/13,400 | $951 | Christies |
| 1191 Buckland Avenue | $2,478,000 | 4BR/2BA | 2,338/7,425 | $1,060 | Coldwell Banker |
| 3340 Melendy Drive | $2,200,000 | 3BR/2.5BA | 2,263/8,400 | $1,303 | Berkshire Hathaway |
| 2812 Tramanto Drive | $2,200,000 | 4BR/2BA | 1,650/8,040 | $1,271 | Compass |
| 20 Chilton Avenue | $1,999,000 | 3BR/2BA | 1,720/6,960 | $1,303 | Gateway |
| 928 Lupin Way | $1,988,000 | 4BR/3BA | 2,170/5,500 | $916 | Anew Elite |
| 327 Chesham Avenue | $1,625,000 | 2BR/2BA | 961/6,612 | $1,691 | Lazar Homes |
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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