The San Carlos Real Estate Week in Review: 9/25/23
September 25, 2023
The Recap:
The new listing activity continued on the same clip last week as it has been since the beginning of September. Nine more homes hit the market last week, marking the third week in a row with nine or more new listings. The big difference this past week is that the buying population did not respond in kind. Only two homes were put into contract, and that disparity caused the inventory to rise to 35 homes for sale in San Carlos – the highest level in weeks.
It's too early to tell if last week's lackluster buying rate was just a blip, or if the potential of yet another interest rate hike is scaring buyers out of the market. This coming week's performance should be telltale, as buyers have as large of an inventory of homes to choose from than they've had all year.
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 9/24/2023:| San Carlos SFR Data | 9/24/23 | Previous Week |
|---|---|---|
| Number of Closed Sales: | 3 | 9 |
| Average Sold Price: | $3,600,013 | $2,220,667 |
| Median Sold Price: | $2,900,000 | $2,310,000 |
| Average % Sold vs Orig List Price: | 95% | 102% |
| Average DOM of Closed Sales | 16 | 32 |
| Average $/Sq Foot (Sold) | $1,218 | $1,294 |
| Listings put into Contract: | 2 | 10 |
| Total Homes Pending Sale: | 22 | 23 |
| New Listings: | 9 | 9 |
| Total Active Listings: | 35 | 29 |
| Average Price of Active Listings: | $2,433,730 | $2,409,368 |
| Average DOM of Active Listings: | 27 | 28 |
| Average $/Sq Foot (List) | $1,260 | $1,278 |
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) |
|---|---|---|---|---|---|
| 518 Canyon Vista Way | $5,000,038 | $5,295,000 | -$294,962 (-5.6%) | $1,445 | 29 |
| 226 Frances Lane | $2,900,000 | $2,950,000 | -$50,000 (-1.7%) | $1,032 | 20 |
| 73 Hilltop Drive | $2,900,000 | $3,097,989 | -$197,989 (-6.4%) | $1,176 | 0* |
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) |
|---|---|---|
| 1385 Alameda | $2,399,000 | 5 |
| 1517 Eaton Avenue | $1,766,888 | 12 |
*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 |
|---|---|---|---|---|---|
| 1408 Crestview Drive | $3,249,888 | 4BR/2.5BA | 2,892/11,466 | $1,124 | Intero |
| 17 Walton Street | $2,998,000 | 4BR/3.5BA | 2,750/6,765 | $1,090 | Sothebys |
| 338 Hill Way | $2,995,000 | 4BR/3BA | 2,509/8,000 | $1,193 | Keller Williams |
| 477 Clifton Avenue | $2,688,000 | 4BR/2BA | 1,890/6,800 | $1,422 | eXp |
| 2555 Eaton Avenue | $2,650,000 | 4BR/2.5BA | 2,490/7,625 | $1,064 | Realsmart |
| 148 Exbourne Avenue | $2,598,000 | 4BR/2.5BA | 2,020/7,150 | $1,286 | Intero |
| 1 Maple Way | $2,099,000 | 3BR/2BA | 1,640/5,100 | $1,280 | Green Valley |
| 1318 Magnolia Avenue | $1,499,999 | 3BR/1.5BA | 1,420/8,400 | $1,056 | Inizio |
| 1056 Springfield Drive | $1,375,000 | 2BR/1BA | 820/5,000 | $1,677 | Intero |
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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