The San Carlos Real Estate Week in Review: 10/2/23
October 2, 2023
The Recap:
Don't look now, but the month of September and the first three quarters of 2023 are now in our rear view mirror. The last week of September finished with a bit of a bang, with some very strong home sales to report. All seven homes that closed escrow last week fetched 6-figure premiums over their respective list prices, or an average of 11% over.
This is a perfect illustration of just how inconsistent this real estate market currently is, because just the week before, every home that closed escrow sold significantly below the list price. It's difficult to predict any kind of a trend in the market with crazy weekly swings like these.
One trend that is not impossible to see is the year-to-date performance in the market compared to previous years, and it's pretty dismal on all counts. Look for my 3rd quarter update later this week on the blog and you'll see what I mean.
Meanwhile, 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 10/1/2023:| San Carlos SFR Data | 10/1/23 | Previous Week |
|---|---|---|
| Number of Closed Sales: | 7 | 3 |
| Average Sold Price: | $2,519,000 | $3,600,013 |
| Median Sold Price: | $2,400,000 | $2,900,000 |
| Average % Sold vs Orig List Price: | 111% | 95% |
| Average DOM of Closed Sales | 7 | 16 |
| Average $/Sq Foot (Sold) | $1,364 | $1,218 |
| Listings put into Contract: | 8 | 2 |
| Total Homes Pending Sale: | 23 | 22 |
| New Listings: | 7 | 9 |
| Total Active Listings: | 33 | 35 |
| Average Price of Active Listings: | $2,417,172 | $2,433,730 |
| Average DOM of Active Listings: | 28 | 27 |
| Average $/Sq Foot (List) | $1,277 | $1,260 |
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) |
|---|---|---|---|---|---|
| 1440 Orange Avenue | $3,328,000 | $2,948,000 | +$380,000 (+12.9%) | $1,471 | 10 |
| 817 Chestnut Street | $2,800,000 | $2,388,000 | +$412,000 (+17.3%) | $1,795 | 5 |
| 1016 Sunset Drive | $2,680,000 | $2,550,000 | +$130,000 (+5.1%) | $1,000 | 6 |
| 20 Chilton Avenue | $2,400,000 | $1,999,000 | +$401,000 (+20%) | $1,395 | 1 |
| 2812 Tramanto Drive | $2,300,000 | $2,098,000 | +$202,000 (+9.6%) | $1,394 | 11 |
| 112 Exeter Avenue | $2,125,000 | $1,948,000 | +$177,000 (+9.1%) | $944 | 7 |
| 2056 Arroyo Avenue | $2,000,000 | $1,898,000 | +$102,000 (+5.4%) | $1,550 | 7 |
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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