Absorption Rate for San Carlos Real Estate for Week Ending Jan. 25, 2010

Posted on 26 January 2010 by vvandervort

natural spongeLet’s take a look at the absorption rate of real estate in San Carlos this week.  At the end of this week, we had 27 single family homes on the market in San Carlos.  A year ago, we had almost twice as many – 53!  And a year before that it was 35.  As you can see from the numbers, we are experiencing a shortage of inventory.  Sellers may be apprehensive to put their homes on the market right now, but there is certainly less competition now than there will be as we get into the Spring months and the interest rates are appealing to buyers and that may not be the case a year from now.  Okay, I digress from the absorption rate numbers…

We had 5 homes get listed in San Carlos in the last week.  Here they are:
 

Street Address List Price Beds Baths (F|P) Bldg SqFt MLS Number Age
79 WINDING WY $550,000 1 1|0 670 81002961 51
1983 BELLE AV $759,000 2 1|0 1070 81002926 64
1345 WOODLAND AV $839,000 3 2|0 1630 81003144 69
216 HIGHLAND AV $949,949 4 3|0 2510 81003128 54
2711 CLIFFORD AV $959,000 3 1|2 2430 81003325 69

Two of these “new” listings are not really new; they’ve been on the market recently.  79 Winding Way was on the market late last year, but was taken off in November.  1983 Belle came on and off the market from July of 2008 until March of 2009, getting into contract once, but that transaction never came to fruition. 

It was a flat week in San Carlos since we had 5 homes also go pending.  The homes getting into contract this week are:

Street Address List Price Beds Baths (F|P) Bldg SqFt MLS Number Age
1125 WALNUT ST $769,888 2 1|0 1030 81000939 65
724 TAMARACK AV $868,000 3 2|1 2070 81002018 69
1813 CHESTNUT ST $899,999 4 2|1 1830 81001201 79
2705 EATON AV $1,099,000 3 2|0 1920 80939185 47
66 WESSEX WY $1,100,000 4 2|0 1880 80958277 49

It’s great to see that 40% of the homes selling in San Carlos this week were over $1,000,000!

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