San Carlos Real Estate Absorption Rate – A Catch Up

Posted on 20 July 2010 by vvandervort

See that broken pencil over there?  That’s my excuse for why I haven’t been writing.  I’ve had a broken pencil.  Okay, not true, just been busy, busy, busy.  Recently, I represented buyers on 138 Louise Lane in San Mateo that had 11 offers on it and we were the winning party!  That house is the most elegant house I have ever seen outside of the usual towns known for elegant houses.   And boy, did that keep me busy for a few days!

So let’s recap what has happened recently in San Carlos real estate…

The first week in July we had about 63 single family homes on the market.   4 homes listed that week, 8 went pending with an average of 27 days on market, and 6 closed escrow.   Great absorption, San Carlos!

On July 11th, we had 66 homes on the market.  In that week we had 9 properties get listed in San Carlos, 6 went pending with an average of 65 days on market, and 3 closed escrow.

On July 19th, we had 61 homes on the market in San Carlos.  4 got listed last week, 5 went pending with an average of 46 days on the market, and 4 closed escrow.

One thing that is more pronounced lately when I pull my San Carlos real estate statistics is that there are more houses that are scheduled to close escrow in a given week, than actually do close escrow.  This may be a function of Bank of America having issues with their loans these days and so we are seeing more delays in properties closing.

Thanks for understanding my lack of writing for the last few weeks.  Blogging could be a full time job for me, but I’ve got to actually sell some real estate too, and my kids also like to see me with some frequency.

Here’s to mended pencils!  Remember, if you want data that is not seen here, just contact me, Val, the San Carlos Real Estate Data Gal!

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