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 Data4/21/24Previous Week
Number of Closed Sales:74
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 Sales166
Average $/Sq Foot (Sold)$1,201$1,500
Listings put into Contract:54
Total Homes Pending Sale:1517
New Listings:63
Total Active Listings:1513
Average Price of Active Listings:$2,876,600$2,930,538
Average Days of Active Listings:2828
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:
AddressSold PriceOrig. ListOver/Under List$/sq footDays Listed
1632 Elm Street$4,025,000$3,748,000+$277,000 (+7.4%)$1,5238
1544 Edmond Drive$3,850,000$3,928,800-$78,800 (-2.0%)$1,06625
338 Ridge Road$2,698,000$2,698,000$0 (0%)$98611
1081 Sunset Drive$2,100,000$2,198,000-$98,000 (-4.5%)$78146
785 Cedar Street$2,100,000$1,999,000+$101,000 (+5.1%)$1,3914
984 Springfield Drive$1,855,000$1,698,000+$157,000 (+9.2%)$1,4136

*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:
AddressList PriceDays Listed
2125 Howard Avenue$2,398,0000*
2751 Eaton Avenue$2,398,00012
30 Bayport Court$2,350,00010
27 Winding Way$1,498,0006
2816 Porto Rosa Way$2,850,0007

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:
AddressList PriceBR/BASq Ft (home/lot) $/Square FootListed By
523 Exeter Way$2,798,0004BR/2.5BA3,090/7,000$905Coldwell Banker
254 Alberta Avenue$2,680,0003BR/2BA2,140/8,800$1,252Walsh Properties
804 Bauer Drive$2,548,0003BR/2.5BA1,991/7,070$1,279Ektra
2411 Graceland Avenue$2,088,0003BR/2BA1,450/4,900$1,440Sothebys
228 Windsor Drive$2,049,0003BR/3BA1,575/4,750$1,300Andersen, Jung & Co.
172 Garnet Avenue$1,850,0003BR/2BA1,480/5,400$1,250Compass

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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