The San Carlos Real Estate Week in Review: 12/18/23

December 18, 2023


The Recap:

The year-end purge of inventory was in full swing last week in the San Carlos real estate market. Between the five homes that were put into contract, and the handful of others that were pulled off the market for the holidays, the inventory of single-family homes in San Carlos plummeted to 12. The homes that are remaining on the market have an average stay of 63 days, so there's a good chance that most of them will carry over into the new year.

Speaking of the new year, the Federal Reserve delivered some promising news last week that they are not only holding their prime rate steady going forward, but they predict there may be as many as three rate cuts next year as inflation appears to be heading the right direction. As I've mentioned a few times already, the market has already anticipated this move and home mortgage rates have been inching downward for each of the past seven weeks. This will certainly inject some life into what has been a lackluster market, should that trend continue.

Here's what happened last week:

At A Glance

This is a high-level view of the market performance for single-family residences (SFR's) in San Carlos. This data is for the 7-day period ending Sunday 12/17/2023:
San Carlos SFR Data12/17/23Previous Week
Number of Closed Sales:62
Average Sold Price:$2,399,167$2,220,000
Median Sold Price:$2,357,500$2,220,000
Average % Sold vs Orig List Price:100%92%
Average DOM of Closed Sales3449
Average $/Sq Foot (Sold)$1,115$1,109
Listings put into Contract:52
Total Homes Pending Sale:1415
New Listings:01
Total Active Listings:1219
Average Price of Active Listings:$2,851,167$2,792,526
Average DOM of Active Listings:6360
Average $/Sq Foot (List)$1,158$1,191

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)
1370 Orange Avenue$2,850,000$2,950,000-$100,000 (-3.4%)$92537
129 Madera Avenue$2,445,000$2,699,000-$254,000 (-9.4%)$1,02765
42 Chilton Avenue$2,365,000$1,975,000+$390,000 (+19.7%)$1,5778
2527 Graceland Avenue$2,350,000$2,598,000-$248,000 (-9.5%)$1,13083
2423 Saint Francis Way$2,215,000$2,149,000+$66,000 (+3.1%)$1,0116
126 Club Drive$2,170,000$2,188,000-$18,000 (-0.8%)$1,0197

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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