The San Carlos Real Estate Week in Review: 9/30/24
September 30, 2024
The Recap:
Today marks the last day of both September and the third quarter of 2024. For much of this year, it has been essentially a repeat of 2023 — fewer listings, fewer sales, and higher prices. But in the past few weeks the factors that usually influence a real estate market have shown signs of improvement. Interest rates are inching downward, and there are now more homes for sale than at any other point so far this year.
So the table is set for what will hopefully be a robust final quarter of this year. In fact, some experts predict an “inversion” of the normal real estate sales curve, which would mean that more homes will sell in the fall than in the spring. Personally, I'll be surprised if that happens but at the same time that would be a very welcome surprise.
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 9/29/2024:| San Carlos SFR Data | 9/29/24 | Previous Week |
|---|---|---|
| Number of Closed Sales: | 3 | 4 |
| Average Sold Price: | $3,280,000 | $2,500,000 |
| Median Sold Price: | $3,200,000 | $2,387,500 |
| Average % Sold vs Orig List Price: | 103% | 104% |
| Average Days Listed of Closed Sales | 6 | 24 |
| Average $/Sq Foot (Sold) | $1,294 | $1,482 |
| Listings Put Under Contract: | 5 | 6 |
| Total Homes Under Contract: | 19 | 16 |
| New Listings: | 3 | 9 |
| Total Active Listings: | 20 | 22 |
| Average Price of Active Listings: | $3,090,938 | $3,081,035 |
| Median Price of Active Listings: | $3,229,000 | $2,879,444 |
| Average Days of Active Listings: | 22 | 18 |
| Average $/Sq Foot (List) | $1,337 | $1,278 |
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 Hill Avenue | $4,590,000 | $4,388,000 | +$202,000 (+4.6%) | $1,022 | 8 |
| 250 Devonshire Boulevard | $3,200,000 | $3,200,000 | $0 (0%) | $1,546 | 0* |
| 5 Vine Street | $2,050,000 | $1,980,000 | +$70,000 (+3.5%) | $1,314 | 11 |
*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 |
|---|---|---|
| 252 Edgehill Drive | $2,048,000 | 37 |
| 1318 Magnolia Avenue | $1,965,000 | 17 |
| 171 Coronado Boulevard | $4,495,000 | 14 |
| 1525 Gover Lane | $2,498,000 | 7 |
| 2316 San Carlos Avenue | $1,948,000 | 6 |
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 |
|---|---|---|---|---|---|
| 128 Mesa Verde Way | $3,650,000 | 4BR/2.5BA | 2,600/13,464 | $1,404 | Compass |
| 1825 Chestnut Street | $1,950,000 | 3BR/1.5BA | 1,510/4,400 | $1,291 | Christies |
| 984 Cherry Street | $1,690,000 | 2BR/1BA | 1,010/5,000 | $1,673 | 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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