Absorption of San Carlos Real Estate for the Week

Posted on 09 November 2009 by vvandervort

When tracking real estate in an area, it is important to be aware of the absorption rate, which is the amount of homes that get listed compared to the number of homes that “go pending” (i.e. get into contract).  You can look at it over whatever time period you want – a week, a month – but I find it useful to track on a weekly basis and have been doing so for quite some time now. 

Here are the single family homes that listed this week:

288 CLUB DR $1,725,000 $1,725,000 2 5 (4/1) San Carlos 1 80952202 11/3/2009     351 4,250 SqFt 15,681 SqFt  
3005 BRITTAN AV $924,000 $924,000 3 2 San Carlos 1 80952557 11/6/2009 11/10/2009   351 1,900 SqFt 8,176 SqFt  
2043 SAINT FRANCIS WY $899,000 $899,000 3 2 San Carlos 1 80952581 11/6/2009 11/10/2009   352 1,493 SqFt 4,440 SqFt  
1962 SAN CARLOS AV $639,900 $639,900 3 1 San Carlos 1 80952290 11/5/2009 11/10/2009   355 1,260 SqFt 5,900 SqFt  
184 SYCAMORE ST $749,000 $749,000 2 1 San Carlos 1 80952834 11/9/2009 11/10/2009   355 1,220 SqFt 7,480 SqFt  
2056 ARROYO AV $800,000 $800,000 3 1 San Carlos 1 80952587 11/6/2009 11/7/2009   353 1,290 SqFt 5,000 SqFt  

Here are the homes that went pending this last week:

3481 LA MESA DR $1,159,000 $1,159,000 3 3 (2/1) San Carlos 1 80951772 11/2/2009 11/3/2009   350 2,300 SqFt 8,320 SqFt  
18 COLEMAN CT $899,000 $899,000 3 3 (2/1) San Carlos 1 80948382 10/9/2009 11/10/2009   351 1,710 SqFt 16,600 SqFt  
143 RUBY AV $899,000 $799,000 2 2 (1/1) San Carlos 1 80943275 9/9/2009 9/15/2009   352 1,450 SqFt 4,400 SqFt  
2036 ALMA ST $1,295,000 $1,295,000 3 1 San Carlos 1 80951477 10/30/2009     353 1,320 SqFt 9,000 SqFt  
2056 ARROYO AV $800,000 $800,000 3 1 San Carlos 1 80952587 11/6/2009 11/7/2009   353 1,290 SqFt 5,000 SqFt  
341 LAUREL ST $779,000 $724,900 3 3 (2/1) San Carlos 1 80913571 3/17/2009 3/24/2009   355 1,240 SqFt 7,500 SqFt  
1421 HULL DR $729,000 $729,000 2 1 San Carlos 1 80950739 10/26/2009 11/3/2009   355 1,130 SqFt 6,930 SqFt  
2120 EATON AV $799,950 $799,950 3 2 San Carlos 1 80951321 10/29/2009 11/3/2009   352 1,610 SqFt 8,250 SqFt  

Of course, the one that is interesting is 2056 Arroyo which listed and went pending in the same week.  To the sellers in San Carlos, this would be a great week, since 8 homes went pending and 6 listed.  With an inventory of 45 single family homes in San Carlos, at this absorption rate, it would take 22.5 weeks to burn through the current inventory if no new homes were listed.

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