The San Carlos Real Estate Week in Review: 2/23/26

The Recap:

Last week was one of those periods where one side of the table severely outperformed the other. In this case, it was the home buyers who dominated the activity. Nine different homes were put under contract in just seven days, which is a brisk clip. But only two new listings were put on the MLS, and that big disparity drained the inventory of homes for sale in San Carlos back down to nine total.

Now, just because only nine homes are visible on the MLS doesn't necessarily mean there are the only nine homes for sale. As I pointed out in this post last week, a number of the big, mega-brokerages are aggressively hoarding their listings internally, rather than posting them on the MLS, thereby creating what we refer to as a Private Listing Network. The very flawed justification of this practice is that it gives sellers “more options” to sell their home, and allows the agent to “test the pricing” of the listing before it hits the market.

In reality, it just creates a ripe environment for the brokerage to double-end the home before the listing ever hits the MLS. That may be great for the brokerage, but not so for the seller, whose home is never exposed to the broader market. And it's definitely not great for the average buyer who can't see the listing and doesn't know the secret handshake that would get them full visibility to this shadow inventory.

As some brokerages will find out, it also creates a ripe environment for a class-action lawsuit that will cast a harsh light on this practice, which directly violates the agent's fiduciary duty to their client. Don't worry, it's coming.

On a more positive note, stay tuned later this week when I will post a success story about how I changed the trajectory of a move-up buyer to clear the path for them to secure their forever home when it was looking like it was going to be a much more difficult path.

Here are the numbers from last week's market:

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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 2/22/2026:

San Carlos SFR Data	2/22/26	Previous Week
Number of Closed Sales:	3	2
Average Sold Price:	$2,553,667	$3,002,500
Median Sold Price:	$2,503,000	$3,002,500
Average % Sold vs Orig List Price:	113%	101%
Average Days Listed of Closed Sales	6	6
Average $/Sq Foot (Sold)	$1,431	$1,266
Listings Put Under Contract:	9	2
Total Homes Under Contract:	16	8
New Listings:	2	7
Total Active Listings:	9	16
Average Price of Active Listings:	$3,382,550	$3,377,747
Median Price of Active Listings:	$2,500,000	$2,850,000
Average Days of Active Listings:	23	18
Average $/Sq Foot (List)	$1,221	$1,217

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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
181 Coronado Avenue	$3,208,000	$2,798,000	+$410,000 (+14.7%)	$1,130	13
3236 Brittan Avenue	$2,503,000	$1,999,888	+$503,112 (+25.1%)	$1,375	6
2325 Howard Avenue	$1,950,000	$1,950,000	$0 (0%)	$1,789	0*

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San Carlos Single-Family Homes Pending Sale

The following single-family homes were put under contract in San Carlos last week. Click on the address of each home to see more details and photos:

Address	List Price	Days Listed
1541 Hull Drive	$2,695,000	8
75 Coronado Avenue	$1,798,000	34
11 Krista Lane	$2,695,000	33
217 Bay View Drive	$2,750,000	6
2024 Eaton Avenue	$2,290,000	7
230 Rockridge Road	$4,395,000	7
150 Winding Way	$2,988,000	13
145 Devonshire Boulevard	$2,988,000	7
123 Dolton Avenue	$5,195,000	46

*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
3395 Melendy Drive	$2,198,000	3BR/2BA	1,716/8,250	$1,280	Coldwell Banker
3181 Brittan Avenue	$1,995,000	3BR/2.5BA	2,020/12,453	$988	Sothebys

• 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.