The San Carlos Real Estate Week in Review: 10/28/24

The Recap:

Welcome to the final week of October 2024. Aside from being the home base for Halloween, this week also marks the gradual beginning of the traditional slowdown in the real estate market leading into the holidays. After this week, we will be in November where it's dark by 5:30PM and it's not as easy for buyers to see homes.

The San Carlos real estate market seems to be reflecting this seasonal malaise with only two new listings entering the market last week. After just five homes were put under contract, the inventory of available homes has been reduced to just 12. That's not a lot to get buyers excited about, especially when only three of these homes are listed under $2,500,000 and the other nine that are listed above this price point have an average stay on the market of 36 days.

That means that there are not many affordable options available for buyers right now, and yet this market appears to be craving affordability — three of the five houses that were put under contract last week were listed under $2,000,000 while it appears that the upper end of the San Carlos market is largely sitting.

Here's what happened last week:

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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 10/27/2024:

San Carlos SFR Data	10/27/24	Previous Week
Number of Closed Sales:	2	4
Average Sold Price:	$2,700,000	$2,612,500
Median Sold Price:	$2,700,000	$$2,462,500
Average % Sold vs Orig List Price:	100%	108%
Average Days Listed of Closed Sales	24	8
Average $/Sq Foot (Sold)	$1,684	$1,164
Listings Put Under Contract:	5	6
Total Homes Under Contract:	29	28
New Listings:	2	2
Total Active Listings:	12	14
Average Price of Active Listings:	$3,228,398	$3,060,135
Median Price of Active Listings:	$3,248,000	$2,898,444
Average Days of Active Listings:	28	21
Average $/Sq Foot (List)	$1,311	$1,344

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San Carlos Single-Family Homes 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
1377 Geneva Avenue	$3,650,000	$3,788,000	-$138,000 (-3.6%)	$1,635	36
984 Cherry Street	$1,750,000	$1,690,000	+$60,000 (+3.6%)	$1,733	11

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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
225 Clifton Avenue	$2,998,000	6
200 Manor Drive	$1,598,000	14
1633 Arroyo Avenue	$2,598,000	10
137 Vine Street	$1,788,000	7
371 Ashford Avenue	$1,895,000	16

*Designates that the home was either listed or sold off of the public-facing MLS.

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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
1091 Porto Marino Drive	$2,998,000	4BR/3BA	2,365/12,600	$1,268	Pacific Trust
987 Springfield Drive	$2,098,888	4BR/2BA	1,890/5,000	$1,100	Keller Williams

• 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.