The San Carlos Real Estate Week in Review: 5/27/24
May 27, 2024
The Recap:
Happy Memorial Day to everyone! Home buyers hit the pavement last week in San Carlos, presumably to wrap up a home before they leave for vacation. Eight different homes were put under contract last week, and only one new listing entered the market to offset that activity. That imbalance pulled the inventory of single-family homes back down to only 15 as of this morning, which makes the challenge even greater for buyers looking to land in San Carlos.
The Sold data continues to yield some pretty wild swings both above and below the asking prices. Six of the seven homes that closed escrow last week fetched a minimum premium of $200,000 over their asking prices, with 804 Bauer Drive fetching a healthy $512,000 over list. The lone listing that didn't get a premium actually took a haircut to the tune of $368,000 which just underscores the volatility in the marketplace right now.
This is the last full week of May, which means we're heading into what are traditionally two slow months in the local market. If you're still in the market to purchase a home, this is not the time to take a break. Your best chance at landing a bargain is right now, when the bulk of the buying population will be doing just that.
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 5/26/2024:| San Carlos SFR Data | 5/26/24 | Previous Week |
|---|---|---|
| Number of Closed Sales: | 7 | 3 |
| Average Sold Price: | $2,517,429 | $3,104,000 |
| Median Sold Price: | $2,730,000 | $3,352,000 |
| Average % Sold vs Orig List Price: | 111% | 120% |
| Average Days Listed of Closed Sales | 11 | 7 |
| Average $/Sq Foot (Sold) | $1,452 | $1,630 |
| Listings put into Contract: | 8 | 4 |
| Total Homes Pending Sale: | 20 | 19 |
| New Listings: | 1 | 9 |
| Total Active Listings: | 15 | 22 |
| Average Price of Active Listings: | $3,070,513 | $2,825,805 |
| Median Price of Active Listings: | $2,899,900 | $-- |
| Average Days of Active Listings: | 35 | 24 |
| Average $/Sq Foot (List) | $1,171 | $1,190 |
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 |
|---|---|---|---|---|---|
| 1627 Chestnut Street | $3,250,000 | $2,888,000 | +$362,000 (+12.5%) | $1,512 | 6 |
| 2236 Howard Avenue | $3,087,000 | $2,798,000 | +$289,000 (+10.3%) | $1,573 | 4 |
| 804 Bauer Drive | $3,060,000 | $2,548,000 | +$512,000 (+20.1%) | $1,537 | 8 |
| 38 Roslyn Avenue | $2,730,000 | $3,098,000 | -$368,000 (-11.9%) | $878 | 41 |
| 172 Garnet Avenue | $2,050,000 | $1,850,000 | +$200,000 (+10.8%) | $1,385 | 8 |
| 266 Vine Street | $1,780,000 | $1,499,000 | +$281,000 (+18.7%) | $1,648 | 9 |
| 228 Emerald Avenue | $1,665,000 | $1,399,888 | +$265,112 (+18.9%) | $1,632 | 0* |
*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 |
|---|---|---|
| 220 Winding Way | $1,265,000 | 42 |
| 910 Cordilleras Avenue | $2,098,000 | 22 |
| 232 Windsor Drive | $2,298,000 | 4 |
| 213 Park Avenue | $2,788,000 | 8 |
| 313 Windsor Drive | $1,698,000 | 14 |
| 3309 Melendy Drive | $3,250,000 | 7 |
| 237 Kelton Avenue | $2,088,000 | 21 |
| 222 Frances Lane | $2,998,000 | 19 |
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 |
|---|---|---|---|---|---|
| 16 Fay Avenue | $1,950,000 | 3BR/2BA | 1,250/4,200 | $1,560 | 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.
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