The San Carlos Real Estate Week in Review: 8/14/23
August 14, 2023
The Recap:
San Carlos registered its first $6M sale last week when the remodeled home at 1880 Carmelita Drive closed at $6,495,000. It was originally listed north of $7,000,000 which would have made it the first $7M home to sell in San Carlos, but it still registers as the second highest residential real estate transaction in San Carlos. Only the former Black Mountain property at 806 Alameda that closed in 2016 at $9.8M exceeded that mark, but that property was situated on a nearly 6-acre lot — one that is now slated to become a collection of over 70 modern town homes.
So in case you are keeping a tally, there have been no single-family homes to sell in San Carlos for $7M or $8M, one that has now sold in the $6M range, and eight that have sold with a 5 as the first digit (according to the MLS). These are pretty lofty numbers for what was once a sleepy bedroom community that many people didn't even know existed. But as I've said many times before, the magic of San Carlos is no longer a secret.
Aside from the Carmelita sale, the big word in San Carlos real estate this week is “listings”. There were 9 new homes that entered the market last week, and there should be another good push this week as the summer slumber winds down and we head into the fall market. I have two beautiful San Carlos listings that I will be featuring on the blog later this week, so stay tuned!
Here are the numbers from last week:
At A Glance
This is a high-level view of the market performance for single-family residences (SFR) in San Carlos. This data is for the 7-day period ending Sunday 8/13/2023:| San Carlos SFR Data | 8/13/23 | Previous Week |
|---|---|---|
| Number of Closed Sales: | 2 | 6 |
| Average Sold Price: | $4,310,000 | $2,539,167 |
| Median Sold Price: | $4,310,000 | $2,682,500 |
| Average % Sold vs Orig List Price: | 97% | 105% |
| Average DOM of Closed Sales | 61 | 13 |
| Average $/Sq Foot (Sold) | $1,405 | $1,217 |
| Listings put into Contract: | 4 | 3 |
| Total Homes Pending Sale: | 10 | 8 |
| New Listings: | 9 | 3 |
| Total Active Listings: | 19 | 16 |
| Average Price of Active Listings: | $2,721,826 | $3,042,868 |
| Average DOM of Active Listings: | 23 | 45 |
| Average $/Sq Foot (List) | $1,143 | $1,197 |
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 | DOM (days) |
|---|---|---|---|---|---|
| 1880 Carmelita Drive | $6,495,000 | $7,250,000 | -$755,000 (-10.4%) | $1,248 | 111 |
| 1107 Cedar Street | $2,125,000 | $2,049,000 | +$76,000 (+3.7%) | $1,563 | 11 |
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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