Median Sales Price in San Carlos

Posted on 23 January 2010 by vvandervort

I’m working on my annual San Carlos real estate in review articles, and thought I’d post this graph which shows median sales price in San Carlos over the last year. 

2009 Median Sales Price for San Carlos - Graph2009 felt like a roller coaster and the line on this graph of median sales price in San Carlos shows that.  It was a depressing start to 2009.  No one was buying and our inventory in San Carlos was high (it averaged 52 in January of 2009).  We had the highest median sales price of the year in January ($1,150,000 – but there were only 5 transactions), but you could really feel the downward pressure on prices at that time. In the late Spring of 2009, it felt like we broke through the log jam and buyers started to decide it was time to buy.   Buyers seemed to finally be more motivated by the first time home buyer tax credit and attractive interest rates than they were by fear that the sky was falling.  We saw the momentum continue through the end of the year with multiple offers becoming more common once again as buyers got concerned about the first time home buyer credit going away (which ended up getting extended until April 30, 2010).  

Will 2010 be a continuation of that nice flat line we saw develop at the end of 2009?  I think things are going to be active in early 2010 in the San Carlos real estate market and we may see the median price go up for no other reason than we have too little inventory (we have 27 single family homes on the market in San Carlos as I write this). 

If you’d like an early copy of my annual review of San Carlos real estate, please email me.  I have written one that looks at all of San Carlos and one that looks specifically at the San Carlos hills.

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