The San Carlos Real Estate Week in Review: 5/13/24

The Recap:

The May “glide-down” that I mentioned in last week's review may have actually kicked in last week, which is in stark contrast to the frenetic pace of activity we were seeing in the Spring market. The showing activity and the consequential offers written dropped significantly for one of my listings, which still came a surprise knowing the fact that the market traditionally does lose momentum starting in mid-May. Perhaps this summer's real estate will adhere to the traditional rules.

Until then, you get to feast your eyes on the Sold table below, where you'll see the results of the super-heated market of just a few weeks ago when six-figure premiums were almost expected and most of the homes didn't last a full week on the market.

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 5/12/2024:

San Carlos SFR Data	5/12/24	Previous Week
Number of Closed Sales:	6	4
Average Sold Price:	$2,541,000	$2,424,500
Median Sold Price:	$2,217,500	$2,471,500
Average % Sold vs Orig List Price:	114%	112%
Average Days Listed of Closed Sales	7	6
Average $/Sq Foot (Sold)	$1,460	$1,660
Listings put into Contract:	6	8
Total Homes Pending Sale:	18	19
New Listings:	5	6
Total Active Listings:	16	18
Average Price of Active Listings:	$2,707,500	$2,605,722
Average Days of Active Listings:	29	27
Average $/Sq Foot (List)	$1,175	$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:

Address	Sold Price	Orig. List	Over/Under List	$/sq foot	Days Listed
163 Normandy Court	$4,050,000	$3,998,000	+$52,000 (+1.3%)	$1,446	1
2751 Eaton Avenue	$3,150,000	$2,398,000	+$752,000 (+31.4%)	$835	12
2411 Graceland Avenue	$2,575,000	$2,088,000	+$487,000 (+23.3%)	$1,776	6
1008 Porto Marino Drive	$1,860,000	$1,798,000	+$62,000 (+3.4%)	$1,590	6
239 Windsor Drive	$1,810,000	$1,699,999	+$110,001 (+6.5%)	$1,053	6
27 Winding Way	$1,801,000	$1,498,000	+$303,000 (+20.2%)	$1,053	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
982 Holly Street	$1,398,000	32
266 Vine Street	$1,499,000	9
124 Exeter Avenue	$2,880,000	8
4 Camborne Avenue	$2,799,000	7
1545 Gover Lane	$2,868,000	7
1363 Woodland Avenue	$1,898,000	13

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
939 Walnut Street	$3,960,000	4BR/4.5BA	2,946/6,000	$1,344	Intero
2821 Majorca Way	$3,175,000	4BR/3.5BA	2,817/22,000	$1,127	Christies
222 Frances Lane	$2,895,000	5BR/3BA	2,670/7,000	$1,084	Compass
1411 Cordilleras Avenue	$2,148,000	3BR/2BA	1,380/6,136	$1,557	Compass
313 Windsor Drive	$1,698,000	3BR/2.5BA	2,380/15,000	$713	Christies

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.