The San Carlos Real Estate Week in Review: 9/4/23

September 4, 2023


The Recap:

Happy Labor Day! I hope everyone is enjoying the last holiday weekend of the summer. It feels quiet around town, both downtown and in the open houses. This weekend ranks as one of the biggest travel weekends with over 50% of people nationwide hitting the road to somewhere, so that quietness is to be expected this weekend.

There are currently 24 single-family homes for sale in San Carlos heading into our first full week of September. The next two weeks will determine much of how the last third of 2023 is going to shape up. There will either be a nice surge of new listings which will propel the market to a decent finish — or, inventory will remain tight as homeowners wait for interest rates to drop before they sell. But barring an unforeseen avalanche of new activity, 2023 will go down as one of the weakest performing years in the real estate market in the past decade.

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 9/3/2023:
San Carlos SFR Data9/3/23Previous Week
Number of Closed Sales:62
Average Sold Price:$2,448,333$4,225,001
Median Sold Price:$2,370,000$4,225,001
Average % Sold vs Orig List Price:102%109%
Average DOM of Closed Sales3320
Average $/Sq Foot (Sold)$1,259$1,396
Listings put into Contract:48
Total Homes Pending Sale:1820
New Listings:59
Total Active Listings:2422
Average Price of Active Listings:$2,577,370$2,695,864
Average DOM of Active Listings:3124
Average $/Sq Foot (List)$1,166$1,171

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)
650 Wellington Drive$3,700,000$3,450,000+$250,000 (+7.2%)$1,2137
119 Leslie Drive$3,100,000$3,100,000$0 (0%)$1,1650*
20 Barbara Lane$2,520,000$2,350,000+$170,000 (+7.2%)$1,3145
1912 White Oak Way$2,220,000$2,375,000-$155,000 (-6.5%)$1,094169
305 Manzanita Avenue$2,050,000$2,098,000-$48,000 (-2.3%)$1,1452
956 Cherry Street$1,100,000$1,050,000+$50,000 (+4.8%)$1,48614

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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