The San Carlos Real Estate Week in Review: 7/1/24
July 1, 2024
The Recap:
Welcome to July! The first half of 2024 is now in the books, and it has been anything but what everyone in this industry was expecting. Home mortgage interest rates were predicted to be significantly lower by this point, which would have spurred more listings on the market and consequently, more homes sold.
But as you'll see when I publish the mid-year update later this week, none of that happened in the first half of 2024. For most of the key metrics, 2024 is trailing 2023 — a year that we all thought was the bottom of the barrel when we were going through it. Stay tuned…the data will be very enlightening!
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 6/30/2024:| San Carlos SFR Data | 6/30/24 | Previous Week |
|---|---|---|
| Number of Closed Sales: | 3 | 5 |
| Average Sold Price: | $1,733,333 | $2,044,200 |
| Median Sold Price: | $1,820,000 | $2,033,000 |
| Average % Sold vs Orig List Price: | 100% | 96% |
| Average Days Listed of Closed Sales | 52 | 31 |
| Average $/Sq Foot (Sold) | $1,211 | $1,356 |
| Listings Put Under Contract: | 2 | 1 |
| Total Homes Under Contract: | 11 | 12 |
| New Listings: | 3 | 4 |
| Total Active Listings: | 13 | 12 |
| Average Price of Active Listings: | $2,876,968 | $3,289,382 |
| Median Price of Active Listings: | $2,950,000 | $3,211,500 |
| Average Days of Active Listings: | 22 | 19 |
| Average $/Sq Foot (List) | $1,268 | $1,182 |
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 |
|---|---|---|---|---|---|
| 2130 Belmont Avenue | $2,100,000 | $1,725,000 | +$375,000 (+21.7%) | $1,707 | 6 |
| 1374 Alameda de las Pulgas | $1,820,000 | $1,988,000 | -$168,000 (-8.5%) | $1,046 | 43 |
| 244 Windsor Drive | $1,400,000 | $1,598,000 | -$198,000 (-12.4%) | $881 | 106 |
*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 |
|---|---|---|
| 21 Richland Court | $3,425,00 | 7 |
| 164 Chesham Avenue | $2,998,000 | 27 |
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 |
|---|---|---|---|---|---|
| 304 Cedar Street | $1,788,000 | 3BR/1BA | 1,240/5,180 | $1,441 | Coldwell Banker |
| 273 Fir Street | $1,650,000 | 3BR/1BA | 1,200/5,280 | $1,375 | Intero |
| 980 Cherry Street | $1,100,000 | 2BR/1BA | 720/2,500 | $1,528 | Intero |
- 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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