The San Carlos Real Estate Week in Review: 7/10/23
July 10, 2023
The Recap:
The San Carlos real estate market so far in the month of July has been just about as unpredictable as the weather we've been having lately. The activity in the market has been bucking the trend of recent summers when there were hardly any new listings to consider in what is traditionally one of the slower months to list properties.
But 5 new listings hit the market last week, and I was able to hustle and get one of my buyers into contract on an amazing off-market opportunity that popped up the previous week. I've always said that 4th of July weekend is a great time to buy a house because literally nobody else is around, and this once again bolstered my theory.
This increase in activity is welcome news to a market that has seen the total revenue drop by over 30% from last year, and I fully expect that the market this coming Fall will be very robust. I have 3 different San Carlos homes that are teed up to hit the market in the Fall, and I'm sure other top San Carlos agents will have a healthy dose of listings as well in the September-October time frame.
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 7/9/2023:| San Carlos SFR Data | 7/9/23 | Previous Week |
|---|---|---|
| Number of Closed Sales: | 5 | 12 |
| Average Sold Price: | $2,602,000 | $2,326,250 |
| Median Sold Price: | $2,140,000 | $2,140,000 |
| Average % Sold vs Orig List Price: | 111% | 101% |
| Average DOM of Closed Sales | 10 | 15 |
| Average $/Sq Foot (Sold) | $1,309 | $1,315 |
| Listings put into Contract: | 2 | 4 |
| Total Homes Pending Sale: | 14 | 17 |
| New Listings: | 5 | 1 |
| Total Active Listings: | 20 | 18 |
| Average Price of Active Listings: | $2,916,833 | $3,020,204 |
| Average DOM of Active Listings: | 38 | 45 |
| Average $/Sq Foot (List) | $1,216 | $1,220 |
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) |
|---|---|---|---|---|---|
| 1747 Greenwood Avenue | $4,800,000 | $4,950,000 | -$150,000 (-3.0%) | $1,129 | 24 |
| 27 Willow Glen Way | $2,700,000 | $2,499,888 | +$200,112 (+8.0%) | $965 | 2 |
| 213 Kelton Avenue | $2,140,000 | $2,098,000 | +$42,000 (+2.0%) | $1,597 | 8 |
| 910 Hall Street | $1,800,000 | $1,299,000 | +$501,000 (+27.8%) | $1,463 | 10 |
| 1356 Chestnut Street | $1,570,000 | $1,469,000 | +$101,000 (+6.9%) | $1,389 | 8 |
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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