San Carlos Real Estate Absorption for Week Ending May 1, 2010

Posted on 05 May 2010 by vvandervort

2 rain drops on a leafGosh, I feel like I’m on the never ending crazy wagon of dealing with multiple offers in San Carlos and the surrounding communities.  I had a client perfectly describe the current market conditions on west side neighborhoods with good schools:   There is the crap that comes on the market and nobody wants and then there is the stuff that comes on that everyone wants.   So it’s either multiple offers and no negotiating for the buyer or it’s the one and only offer and great opportunities for buyers to negotiate.  We are also seeing the return of non-contingent offers, but they are usually just non-contingent when it comes to property condition, but not for financing since that world is just too tenuous.

We currently have 61 single family homes on the market in San Carlos.  This last week we had 10 homes get listed in San Carlos.  They are…
2607 Graceland Av – $1,595,000 – 4/3 – 2,400 sf
3342 Melendy Dr – $1,385,000 – 4/2.5 – 2,480 sf – I think this was my favorite from the week
530 Walnut St – $1,099,000 – 5/4 – 3,300 sf – this is more like a multi-family opportunity
1025 Hewitt Dr – $1,098,000 – 4/3 – 2,220 sf – this would be the one that I would most likely buy
232 Windsor Dr – $969,000 – 3/3 – 2,500 sf – you HAVE got to see the master bathroom on this place!  I am at a loss for words on how to describe it.  Maybe bachelor pad from the 80s.
3024 Brittan Ave – $899,500 – 3/2 – 2,085 sf
2085 Saint Francis Way – $899,000 – 3/2 – 1,360 sf – this has actually been on for a few weeks now, but it just got into our MLS as it is listed by an out-of-area agent
119 Oakview Dr – $889,000 – 3/1 – 1,290 sf
109 Plymouth Av – $849,950 – 3/2 – 1,390 sf
54 Plymouth Av – $839,000 – 2/2 – 1,450 sf
1240 Highland Ct – $819,000 – 3/2 – 1,860 sf
2667 San Carlos Ave – $699,000 – 3/2 – 1,300 sf

There were 8 homes in San Carlos that sold last week.  The average days on market (DOM) was 22 (last week it was 27.5).
140 Park Ave – $1,695,000 – 5/3 – 3,051 sf – 21 DOM
112 Wildwood Ave – $1,685,000 – 4/3.5 – 2,900 sf – 54 DOM
191 Lyndhurst Ave – $1,298,000 – 4/3 – 2,350 sf – 6 DOM
20 Coronado Ave – $1,050,000 – 4/2 – 2,430 sf – 21 DOM
388 De Anza Ave – $899,000 – 3/2 – 1,470 sf – 45 DOM
33 Sunnydale Ave – $849,000 – 3/2 – 1,770 sf – 9 DOM
728 Cedar St – $779,000 – 2/1 – 1,020 sf – 7 DOM
1262 Magnolia Ave – $715,000 – 2/1 – 1,080 sf – 10 DOM

There were 2 properties that sold off market this week in San Carlos.  They were…
2733 Clifford Av – $1,035,000 – 3/1 – 1,150 sf – this is on a BIG lot (18,375 sf) – has not closed escrow yet
115 Northam Av – $950,000 – 2/2 – 2,040 sf – this already closed escrow at the list price

The homes that closed escrow last week in San Carlos are…
1565 School St –  listed at $868,000 – sold at $875,000 – 3/2 – 1,760 sf
184 Cedar St – listed at $1,098,000 – sold at $1,098,000 – 3/2 – 1,970 sf
2238 Carmelita Dr – listed at $1,465,000 – sold at $1,450,000 – 5/4 – 3,700 sf

I think that’s it for this last week.  We had a our annual Coldwell Banker legal update this week, so I look forward to sharing some tidbits from that in future posts.

Need more data, contact Val Vandervort, the San Carlos real estate data gal!

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