The San Carlos Real Estate Week in Review: 4/22/24
April 22, 2024
The Recap:
Mortgage interest rates are creeping back into the real estate news again, primarily because they seem to be stalling out and not dropping at the rate that everyone expected. From my observation from observing my own open houses this weekend, this has had a slight tempering effect on the craziness that we've been seeing in the market the past month or so.
This isn't to say that the San Carlos real estate market isn't still robust and heavily tilted in favor of home sellers. There are still just over a dozen homes or sale in all of San Carlos and far more buyers competing for them. But if rates start to tick upward again, I expect you'll see some of those buyers hit the pause button again and that may take a little wind out of the sails of this blustery market. This battle will be worth watching over the next few weeks.
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 4/21/2024:| San Carlos SFR Data | 4/21/24 | Previous Week |
|---|---|---|
| Number of Closed Sales: | 7 | 4 |
| Average Sold Price: | $2,647,571 | $2,643,625 |
| Median Sold Price: | $2,100,000 | $2,770,000 |
| Average % Sold vs Orig List Price: | 102% | 117% |
| Average Days Listed of Closed Sales | 16 | 6 |
| Average $/Sq Foot (Sold) | $1,201 | $1,500 |
| Listings put into Contract: | 5 | 4 |
| Total Homes Pending Sale: | 15 | 17 |
| New Listings: | 6 | 3 |
| Total Active Listings: | 15 | 13 |
| Average Price of Active Listings: | $2,876,600 | $2,930,538 |
| Average Days of Active Listings: | 28 | 28 |
| Average $/Sq Foot (List) | $1,200 | $1,173 |
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 | Days Listed |
|---|---|---|---|---|---|
| 1632 Elm Street | $4,025,000 | $3,748,000 | +$277,000 (+7.4%) | $1,523 | 8 |
| 1544 Edmond Drive | $3,850,000 | $3,928,800 | -$78,800 (-2.0%) | $1,066 | 25 |
| 338 Ridge Road | $2,698,000 | $2,698,000 | $0 (0%) | $986 | 11 |
| 1081 Sunset Drive | $2,100,000 | $2,198,000 | -$98,000 (-4.5%) | $781 | 46 |
| 785 Cedar Street | $2,100,000 | $1,999,000 | +$101,000 (+5.1%) | $1,391 | 4 |
| 984 Springfield Drive | $1,855,000 | $1,698,000 | +$157,000 (+9.2%) | $1,413 | 6 |
*Designates the home was sold off of the public-facing MLS.
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 | Days Listed |
|---|---|---|
| 2125 Howard Avenue | $2,398,000 | 0* |
| 2751 Eaton Avenue | $2,398,000 | 12 |
| 30 Bayport Court | $2,350,000 | 10 |
| 27 Winding Way | $1,498,000 | 6 |
| 2816 Porto Rosa Way | $2,850,000 | 7 |
New San Carlos 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 |
|---|---|---|---|---|---|
| 523 Exeter Way | $2,798,000 | 4BR/2.5BA | 3,090/7,000 | $905 | Coldwell Banker |
| 254 Alberta Avenue | $2,680,000 | 3BR/2BA | 2,140/8,800 | $1,252 | Walsh Properties |
| 804 Bauer Drive | $2,548,000 | 3BR/2.5BA | 1,991/7,070 | $1,279 | Ektra |
| 2411 Graceland Avenue | $2,088,000 | 3BR/2BA | 1,450/4,900 | $1,440 | Sothebys |
| 228 Windsor Drive | $2,049,000 | 3BR/3BA | 1,575/4,750 | $1,300 | Andersen, Jung & Co. |
| 172 Garnet Avenue | $1,850,000 | 3BR/2BA | 1,480/5,400 | $1,250 | Compass |
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.
Posted in: