The San Carlos Real Estate Week in Review: 9/9/24
September 9, 2024
The Recap:
The first full week of September is in the books and the sales activity in San Carlos is certainly not jumping out of the gate like many of us anticipated. This past week we saw six new listings enter the market, but only two homes were put under contract. That means inventory is starting to rise again, as it usually does this time of year. As of this morning, we have 18 homes for sale in San Carlos, and that number will certainly increase this week as more listings enter the market.
For the three homes that did close escrow last week, they all enjoyed multiple six-figure lifts over their respective asking prices, so it's clear that there are still buyers out there competing with multiple offers on certain homes.
But as I mentioned last week in this post, it's difficult to determine why the San Carlos real estate market isn't firing on all cylinders right now when most of the surrounding communities are. We'll just have to watch the activity closely over the coming weeks to see if our market will swing back in the right direction.
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 days ending Sunday 9/8/2024:| San Carlos SFR Data | 9/8/24 | Previous Week |
|---|---|---|
| Number of Closed Sales: | 3 | 2 |
| Average Sold Price: | $2,286,296 | $2,377,500 |
| Median Sold Price: | $2,400,000 | $2,377,500 |
| Average % Sold vs Orig List Price: | 113% | 106% |
| Average Days Listed of Closed Sales | 7 | 6 |
| Average $/Sq Foot (Sold) | $1,692 | $1,648 |
| Listings Put Under Contract: | 2 | 3 |
| Total Homes Under Contract: | 12 | 13 |
| New Listings: | 6 | 4 |
| Total Active Listings: | 18 | 14 |
| Average Price of Active Listings: | $2,850,044 | $2,848,485 |
| Median Price of Active Listings: | $2,591,450 | $2,591,450 |
| Average Days of Active Listings: | 28 | 28 |
| Average $/Sq Foot (List) | $1,401 | $1,280 |
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 |
|---|---|---|---|---|---|
| 5 Spring Valley Way | $2,650,000 | $2,468,000 | +$182,000 (+7.4%) | $1,402 | 13 |
| 35 Coronado Avenue | $2,400,000 | $2,178,000 | +$222,000 (+10.2%) | $1,791 | 7 |
| 616 Wellington Drive | $1,808,888 | $1,499,000 | +$309,888 (+20.7%) | $1,884 | 1 |
*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 |
|---|---|---|
| 1020 Holly Street | $1,395,000 | 7 |
| 1921 Arroyo Avenue | $2,485,000 | 3 |
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 |
|---|---|---|---|---|---|
| 29 Highland Avenue | $3,688,000 | 4BR/4.5BA | 3,172/5,534 | $1,162 | Compass |
| 162 Madera Avenue | $3,498,000 | 3BR/2.5BA | 2,110/20,473 | $1,658 | Sothebys |
| 1921 Arroyo Avenue | $2,485,000 | 3BR/2BA | 1,530/5,050 | $1,624 | Christies |
| 1581 Walnut Street | $2,268,000 | 3BR/2BA | 1,420/5,500 | $1,97 | Gateway |
| 1318 Magnolia Avenue | $1,965,000 | 3BR/1.5BA | 1,724/8,438 | $1,140 | Keller Williams |
| 1737 Greenwood Avenue | $1,398,000 | 1BR/1BA | 430/4,847 | $3,251 | Guide |
- 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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