The San Carlos Real Estate Week in Review: 10/30/23
October 30, 2023
The Recap:
Last week saw the market activity continue its slow decline toward the end of the year. There were only two new homes to list on the market, while six were put under contract. The inventory of single-family homes for sale is slowly dropping, and now sits at just 22 homes in all of San Carlos.
Despite predictions a few months ago to the contrary, home mortgage interest rates are remaining stubbornly high, flirting with 8% in some cases. This will continue to impede the progress of any market recovery. There are still lots of buyers who want to buy and sellers who want to sell, but many of them are remaining on the sidelines until conditions become more favorable.
Happy Halloween to everyone!
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 10/29/2023:| San Carlos SFR Data | 10/29/23 | Previous Week |
|---|---|---|
| Number of Closed Sales: | 6 | 2 |
| Average Sold Price: | $2,513,833 | $2,909,250 |
| Median Sold Price: | $2,649,000 | $2,909,250 |
| Average % Sold vs Orig List Price: | 105% | 98% |
| Average DOM of Closed Sales | 18 | 11 |
| Average $/Sq Foot (Sold) | $1,321 | $1,076 |
| Listings put into Contract: | 6 | 3 |
| Total Homes Pending Sale: | 19 | 18 |
| New Listings: | 2 | 3 |
| Total Active Listings: | 22 | 25 |
| Average Price of Active Listings: | $2,404,540 | $2,422,316 |
| Average DOM of Active Listings: | 48 | 42 |
| Average $/Sq Foot (List) | $1,257 | $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) |
|---|---|---|---|---|---|
| 338 Hill Way | $3,010,000 | $2,995,000 | +$15,000 (+0.5%) | $1,200 | 8 |
| 112 Belvedere Avenue | $2,875,000 | $2,898,000 | -$23,000 (-0.8%) | $1,357 | 35 |
| 857 Bauer Drive | $2,800,000 | $2,498,000 | +$302,000 (+12.1%) | $1,212 | 11 |
| 2056 White Oak Way | $2,498,000 | $2,588,000 | -$90,000 (-3.5%) | $1,206 | 35 |
| 1517 Eaton Avenue | $2,100,000 | $1,766,888 | +$333,112 (+18.9%) | $1,500 | 12 |
| 2666 San Carlos Avenue | $1,800,000 | $1,800,000 | $0 (0%) | $1,452 | 9 |
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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