The San Carlos Real Estate Week in Review: 10/24/09
Seems like old times again in San Carlos. Check out the home sales for this week — 5 of the 7 homes that closed escrow fetched more than their asking price. It’s so strange to see that now, but it used to be the norm only 18 months ago. And of the 7 homes that went pending this week, 4 of them were on the market less than two weeks.
If you’re looking for that inflection point that tells you the market has hit the bottom, I don’t know how much clearer it can get than this.
Here’s a snapshot of the San Carlos market, as of 10/24. The previous week’s stats are in parentheses:
| Price Range | Active | Pending | Ratio |
|---|---|---|---|
| Homes < $1M | 23 (25) | 28 (27) | 0.8 : 1 (0.9 : 1) |
| Homes $1M –$1.5M | 17 (17) | 9 (10) | 1.9 : 1 (1.7 : 1) |
| Homes >$1.5M | 9 (10) | 0 (0) | N/A (N/A ) |
| Total | 49 (52) | 37 (37) | 1.3 : 1 (1.4 : 1) |
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What Sold in San Carlos
Below are homes that sold this past week in San Carlos. Click on the respective addresses to get all the details.
1864 Belmont Avenue, San Carlos
1864 Belmont Avenue
- Pictured Above — Sale Price: $1,075,000. Original List Price: $1,199,000. Difference: $124,000 (10.3%) below original list. DOM: 74 Days under current MLS # 80932210. Listed by Christy Ovtcharov of Alain Pinel Realtors.
1353 Geneva Avenue
- Sale Price: $915,200. Original List Price: $885,000. Difference: $30,200 (3.4%) above original list. DOM: 6 Days under current MLS # 80944715. Listed by Shirley Kraus of Intero Real Estate Services.
1116 Orange Avenue
- Sale Price: $903,000. Original List Price: $845,000. Difference: $58,000 (6.9%) above original list. DOM: 13 Days under current MLS #80946135. Listed by Orla Sater of Intero Real Estate Services.
278 Vine Street
- Sale Price: $880,000. Original List Price: $850,000. Difference: $30,000 (3.5%) above original list. DOM: 12 Days under current MLS #80942448. Listed by Gail Aknin of Cashin Company.
205 Highland Avenue
- Sale Price: $730,000. Original List Price: $700,000. Difference: $30,000 (4.3%) above original list. DOM: 11 Days under current MLS #80938620. Listed by Patrick Ryan of Alain Pinel Realtors.
1004 Inverness Drive
- Sale Price: $548,000. Original List Price: $538,500. Difference: $9,500 (1.8%) above original list. DOM: 16 Days under current MLS #80916226. Listed by Terry Michaud of Heritage Realty.
1051 Springfield Drive
- Sale Price: $380,000. Original List Price: $425,000. Difference: $45,000 (10.6%) below original list. DOM: 29 Days under current MLS #80943355. Listed by Mary Gonzalez of Coldwell Banker.
(Click this button to see all of the homes that have sold in San Carlos in the past 3 months.)
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Homes Pending Sale in San Carlos
The following homes went “Pending Sale” this week — click on the address for more info:
- 151 Alberta Ave, after 23 days on the market.
- 141 Valley Rd, after 3 days.
- 1618 St. Francis Way, 12 days.
- 347 Elm Street, 37 days.
- 2472 San Carlos Ave, 9 days
- 1112 Dayton Ave, 89 days.
- 2056 Eucalyptus Ave, 3 days
- 131 Ruby Ave, 43 days.
(Click this button to see all the homes that are Pending Sale in San Carlos.)
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New Listings in San Carlos
Below are the new listings that hit the market this past week in San Carlos. Simply click on the address of each home to get all the details.
2056 Eucalyptus Avenue, San Carlos
2056 Eucalytpus Avenue
- Pictured Above: $899,000– 3BR/2BA, 1,474 sq ft on a 5,000 square foot lot. MLS#80949664, listed by Justine Ford of RE/MAX Today. Too late…already pending sale!
1358 Geneva Avenue
- $839,000– 3BR/2BA, 1,360 sq ft on a 4,040 square foot lot. MLS# 80950428, listed by Justine Ford of RE/MAX Today.
776 Tamarck Avenue
- $719,950– 3BR/2BA, 1,640 sq ft on a 6,500 square foot lot. MLS#80949686, listed by Maxine Dumas of Dumas & Company.
1962 San Carlos Avenue
- $639,900– 3BR/1BA, 1,260 sq ft on a 5,900 square foot lot. MLS# 80950450, listed by Bob Bredel of RE/MAX Today.
(Click this button to see ALL of the homes currently for sale in San Carlos.)
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(Click this button to see ALL of the open houses scheduled for this weekend in San Carlos.)
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(The “San Carlos Week in Review” series is a summary of new listings and home sales in San Carlos for the prior week.)
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Homes fetched more than their asking price only because the asking price was low enough to attract offers. In other words, if priced right a house will sell in a week or 2. $915K for a very nice 2,000 sqft in prime White Oaks is not “like old times again”, but it is now the new norm. There are still 40+ properties that have been on MLS for over 2 months, and a dozen that have been sitting there for over 6 months. They are overpriced and everybody knows it except the sellers who do believe it is “like old times again”. This market is still very soft…