The San Carlos Real Estate Week in Review: 6/24/24
June 24, 2024
The Recap:
There was an interesting twist in the sales data below for the San Carlos real estate market. All five homes that closed escrow last week sold at prices below their original asking prices. Normally that barely be worth mentioning, but this comes on the heels of several weeks in a row of homes fetching whopping six-figure premiums over their asking prices.
This is more likely due to the predictable seasonal slowdown than it is a trend to be concerned about. All five of these homes were put under contract after the 15th of May, which as I've commented before numerous times, seems to be the beginning of the backslide into the summer real estate season. The intensity of the market and the buyer focus both seem to start to wane around early May every year. That's something to keep in mind if you plan to sell your home in the Spring of 2025 — get it done early.
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 6/23/2024:| San Carlos SFR Data | 6/23/24 | Previous Week |
|---|---|---|
| Number of Closed Sales: | 5 | 6 |
| Average Sold Price: | $2,044,200 | $2,708,000 |
| Median Sold Price: | $2,033,000 | $2,594,000 |
| Average % Sold vs Orig List Price: | 96% | 108% |
| Average Days Listed of Closed Sales | 31 | 9 |
| Average $/Sq Foot (Sold) | $1,356 | $1,277 |
| Listings put into Contract: | 1 | 2 |
| Total Homes Pending Sale: | 12 | 15 |
| New Listings: | 4 | 3 |
| Total Active Listings: | 12 | 10 |
| Average Price of Active Listings: | $3,289,382 | $3,184,459 |
| Median Price of Active Listings: | $3,211,500 | $3,096,500 |
| Average Days of Active Listings: | 19 | 21 |
| Average $/Sq Foot (List) | $1,182 | $1,176 |
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 |
|---|---|---|---|---|---|
| 222 Frances Lane | $2,925,000 | $2,998,000 | -$73,000 (-2.4%) | $1,300 | 19 |
| 910 Cordilleras Avenue | $2,098,000 | $2,175,000 | -$77,000 (-3.5%) | $1,264 | 22 |
| 237 Kelton Avenue | $2,033,000 | $2,088,000 | -$55,000 (-2.6%) | $1,346 | 21 |
| 228 Windsor Drive | $1,900,000 | $2,049,000 | -$149,000 (-7.3%) | $1,206 | 50 |
| 220 Winding Way | $1,265,000 | $1,315,000 | -$50,000 (-3.8%) | $1,664 | 42 |
*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 |
|---|---|---|
| 16 Fay Avenue | $1,950,00 | 30 |
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 |
|---|---|---|---|---|---|
| 61 Madrona Street | $4,500,000 | 4BR/5BA | 3,428/7,300 | $1,313 | Coldwell Banker |
| 21 Richland Court | $3,425,000 | 5BR/4BA | 3,050/9,585 | $1,123 | Gateway |
| 3251 La Mesa Drive | $2,950,000 | 4BR/2BA | 2,151/17,500 | $1,371 | iResidential |
| 30 Cottage Lane | $1,898,000 | 4BR/2BA | 1,503/6,150 | $1,263 | Redfin |
- 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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