The San Carlos Real Estate Week in Review: 9/11/23
September 11, 2023
The Recap:
What year are we in again?? This past week, 10 new single-family listings hit the market in San Carlos, and 8 of them — or 80% — had list prices under $2,000,000. You'd probably have to go back to nearly 2010 to see something like that, especially considering that the average price for a single-family home in San Carlos is still north of $2,000,000 despite all of the downward pressure due to high interest rates. But if your budget is under $2M, you have a LOT of homes to choose from this week!
The other newsworthy information is fact that 10 listings hit the market in the first place. As I predicted last week, the week after Labor Day is usually a launch point for many sellers and this week did not disappoint. Now, it's up to the buyers to absorb some of this new inventory. This week should be very telling.
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 9/10/2023:| San Carlos SFR Data | 9/10/23 | Previous Week |
|---|---|---|
| Number of Closed Sales: | 3 | 6 |
| Average Sold Price: | $1,970,000 | $2,448,333 |
| Median Sold Price: | $1,830,000 | $2,370,000 |
| Average % Sold vs Orig List Price: | 114% | 102% |
| Average DOM of Closed Sales | 8 | 33 |
| Average $/Sq Foot (Sold) | $946 | $1,259 |
| Listings put into Contract: | 6 | 4 |
| Total Homes Pending Sale: | 22 | 18 |
| New Listings: | 10 | 5 |
| Total Active Listings: | 28 | 24 |
| Average Price of Active Listings: | $2,387,028 | $2,577,370 |
| Average DOM of Active Listings: | 28 | 31 |
| Average $/Sq Foot (List) | $1,290 | $1,166 |
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) |
|---|---|---|---|---|---|
| 970 Crestview Drive | $2,530,000 | $1,995,000 | +$535,000 (+26.8%) | $904 | 11 |
| 2 Ensenada Road | $1,830,000 | $1,798,000 | +$32,000 (+1.8%) | $1,096 | 13 |
| 1025 Walnut Street | $1,550,000 | $1,550,000 | $0 (0%) | *838 | 0* |
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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