There have been a lot of amazing things to happen this year in the San Carlos Real Estate market. One phenomenon that we're experiencing right now is that this market is running completely oblivious to the calendar. What does that statement mean?
In a more traditional year, we would see the number of new listings and subsequent transactions start to dwindle around November 1. This makes sense, because most sellers don't want to hassle with holding their home open over the holidays. And many buyers who have not yet located their new home have put their home search on the back burner, with plans to resume the hunt whenever the Spring real estate market kicks off the next year.
But this year has been totally different. Smart sellers are realizing that there is still a significant pent-up demand for homes in San Carlos. Buyers still outnumber sellers by some astronomical ratio, as is evidenced by the multiple-offer circus that is still happening on virtually every home in the city. So sellers are having no qualms about putting their home on the market in mid-November, or even in December for that matter, because they know it's going to sell.
What does this mean for the San Carlos real estate market? Instead of a normal year where the market would take a 2-3 month snooze over the holidays, you can expect it to plow right through the winter -- more listings, and more sales -- even in December and January. It's going to be busy!
Here are some key stats for the San Carlos real estate market from last week:
- # of Closed Sales: 2
- Average Sold Price: $1,200,000
- Average $/sq foot (sold): $745
- % of Asking Price (sold): 111%
- Average Days on Market (DOM) of Sold Homes: 19
- # of New Listings: 5
- # of Homes to go Pending: 6
- Average Price of Homes for Sale: $1,703,545
What Sold in San Carlos:
The following is the list of single-family homes that sold this past week in San Carlos. Click on the addresses for more information about each property:- 1500 Saint Francis Way: $1,525,000
- 19 Winding Way: $875,000
If you're interested in more data and statistics on what happened in the San Carlos real estate this past week, check out The San Carlos Real Estate Week in Review, which is posted every week in the White Oaks Blog.
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Chuck Gillooley is a Realtor, long-time San Carlos resident, and author of The White Oaks Blog -- the most comprehensive source for information on San Carlos real estate.
