The San Carlos Real Estate Week in Review: 11/25/24

The Recap:

The inventory of single-family homes for sale in San Carlos has dropped to the lowest level this year with only six homes now listed on the MLS. This isn't terribly surprising since we're only five weeks from the end of the year, and most sellers at this point are just going to wait for 2025 to list.

But what is a little bit surprising is that there are more homes that are still being “quietly marketed” (9) versus the number that are visible on the public-facing MLS (6). This is the first time I've ever seen this inversion since I have been tracking stats on the San Carlos market (18 years).

This may not just be a casualty of the year-end market. There is a belief by some in this market that this may become more commonplace as the sale of real property becomes less centralized, and more sellers demand discretion and privacy when they sell their home. Even at the national level, there is a push to overturn the “requirement” that all Realtors put their listings on a public listing service. If that comes to fruition, you'll see more homes being marketed via alternative channels from the MLS. This has been happening for a long time in the ultra-luxury market, but I'm seeing more instances of it throughout the mainstream Peninsula market.

This is not something that is suddenly going to flip overnight, but it is a trend that is very much worth tracking… and you know that I will.

Happy Thanksgiving to everyone! I hope it's a joyous and memorable week for all of the readers of the White Oaks Blog.

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 11/24/2024:

San Carlos SFR Data	11/24/24	Previous Week
Number of Closed Sales:	4	7
Average Sold Price:	$3,171,750	$2,487,143
Median Sold Price:	$3,262,500	$2,100,000
Average % Sold vs Orig List Price:	112%	104%
Average Days Listed of Closed Sales	9	15
Average $/Sq Foot (Sold)	$1,411	$1,372
Listings Put Under Contract:	4	4
Total Homes Under Contract:	15	13
New Listings:	1	1
Total Active Listings:	6	9
Average Price of Active Listings:	$2,739,824	$3,422,700
Median Price of Active Listings:	$2,943,500	$3,649,000
Average Days of Active Listings:	38	41
Average $/Sq Foot (List)	$1,383	$1,359

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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
2908 Eaton Avenue	$4,500,000	$3,998,000	+$502,000 (+12.6%)	$1,193	3
1091 Porto Marino Drive	$3,925,000	$2,998,000	+$927,000 (+31.0%)	$1,660	10
1633 Arroyo Avenue	$2,600,000	$2,598,000	+$2,000 (+0.1%)	$1,605	10
1011 Springfield Drive	$1,662,000	$1,568,000	+$94,000 (+6.0%)	$1,187	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
1415 Oakhurst Avenue	$5,590,000	34
25 Highland Avenue	$3,688,000	58
2278 Brittan Avenue	$1,848,000	6
10 Granite Court	$2,595,000	64

*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
1024 Springfield Drive	$1,848,000	3BR/1BA	970/5,000	$1,541	Ecclestone

• 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.