The San Carlos Real Estate Week in Review: 10/16/23

The Recap:

The sales activity dropped significantly last week in San Carlos. Only two new listings were added into the mix, while only three homes were put into contract. The inventory of homes for sale is sitting at 28, with an average stay on the market of an un-San Carlos like 37 days.

There is a very real sense of nervousness with home buyers in this current market. I've seen several instances where buyers are writing purchase contracts, only to turn around and rescind them or drop out due to “cold feet”. That's a tough move to understand, considering homes are selling for 15%-20% below peak values from last year.

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 10/15/2023:

San Carlos SFR Data	10/15/23	Previous Week
Number of Closed Sales:	10	8
Average Sold Price:	$2,238,400	$2,513,750
Median Sold Price:	$2,090,000	$2,425,000
Average % Sold vs Orig List Price:	102%	100%
Average DOM of Closed Sales	17	15
Average $/Sq Foot (Sold)	$1,303	$1,132
Listings put into Contract:	3	8
Total Homes Pending Sale:	17	24
New Listings:	2	4
Total Active Listings:	28	28
Average Price of Active Listings:	$2,461,425	$2,560,143
Average DOM of Active Listings:	37	33
Average $/Sq Foot (List)	$1,287	$1,321

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)
17 Walton Street	$3,402,000	$2,998,000	+$404,000 (+13.5%)	$1,237	5
423 Emerald Avenue	$3,126,000	$3,598,000	-$472,000 (-13.1%)	$1,173	37
2501 Eaton Avenue	$2,850,000	$2,850,000	0 (0%)	$1,195	6
5 Pepper Lane	$2,350,000	$1,988,000	+$362,000 (+18.2%)	$1,873	6
3200 Brittan Avenue	$2,350,000	$2,495,000	-$145,000 (-5.8%)	$959	29
2610 Howard Avenue	$1,830,000	$1,800,000	+$30,000 (+1.7%)	$1,619	12
989 Riverton Drive	$1,716,000	$1,550,000	+$166,000 (+10.7%)	$1,015	10
160 Chestnut Street	$1,635,000	$1,688,000	-$53,000 (-3.1%)	$1,248	14
1318 Magnolia Avenue	$1,625,000	$1,499,999	+$125,001 (+8.3%)	$1,447	15
327 Chesham Avenue	$1,500,000	$1,625,000	-$125,000 (-7.7%)	$1,561	35

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)
338 Cedar Street	$3,948,000	5
204 Devonshire Boulevard	$4,088,000	11
2941 Sherwood Drive	$1,998,000	67

*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
1544 Edmond Drive	$3,998,000	5BR/3BA	3,866/10,000	$1,034	Christies
1370 Orange Avenue	$2,950,000	4BR/3.5BA	3,080/9,490	$958	Compass

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
113 Alberta Avenue	$2,198,000	3BR/2BA	1,380/6,656	$1,593	Ektra
2085 Greenwood Avenue	$1,629,000	2BR/1BA	1,030/4,880	$1,582	Coldwell Banker

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.