The San Carlos Real Estate Week in Review: 10/9/23

October 9, 2023


The Recap:

We are now fully into the final quarter of 2023. You can expect to see the rate of new listings start to drop as well as the overall inventory, since fewer homeowners will put their homes on the market this late in the year and the existing inventory will slowly start to get absorbed.

Some of that exact behavior was on display last week with only four new homes being listed, while eight homes were put under contract. This slightly deflated the inventory of homes for sale down to 28, and that number should continue to slowly drop as the final real sales month of 2023 unfolds.

Eight homes also changed hands last week, and the pricing of these homes was all over the map. There was one home that fetched a $400K premium, while another sold for $300K below the asking price and a few more sold right around the asking price.

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 10/8/2023:
San Carlos SFR Data10/8/23Previous Week
Number of Closed Sales:87
Average Sold Price:$2,513,750$2,519,000
Median Sold Price:$2,425,000$2,400,000
Average % Sold vs Orig List Price:100%111%
Average DOM of Closed Sales157
Average $/Sq Foot (Sold)$1,132$1,364
Listings put into Contract:88
Total Homes Pending Sale:2423
New Listings:47
Total Active Listings:2833
Average Price of Active Listings:$2,560,143$2,417,172
Average DOM of Active Listings:3328
Average $/Sq Foot (List)$1,321$1,277

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)
732 Knoll Drive$3,450,000$3,675,000-$225,000 (-6.1%)$89454
2258 Howard Avenue$3,300,000$3,300,0000 (0%)$1,7400*
3340 Melendy Drive$2,630,000$2,200,000+$430,000 (+19.5%)$1,22313
1191 Buckland Avenue$2,500,000$2,478,000+$22,000 (+0.9%)$1,0698
1385 Alameda$2,350,000$2,399,000-$49,000 (-2.0%)$1,2145
70 Adam Court$2,100,000$2,400,000-$300,000 (-12.5%)$6264
928 Lupin Way$1,930,000$1,988,000-$58,000 (-2.9%)$88917
2413 Graceland Avenue$1,850,000$1,849,000+$1,000 (+0.0%)$1,37016

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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