San Carlos Real Estate Absorption Rate for Week Ending March 20, 2010

Posted on 24 March 2010 by vvandervort

spring showersI’m back from a week’s break from looking at the San Carlos Real Estate Absorption Rate.  Last week was chaos working with buyers in multiple offer situations.  I feel like I’m back in 2007 and I’ve decided I much prefer the days we enjoyed when we didn’t have multiple offers every where you went.  Buyers are really getting beaten up these days.  172 Lyndhurst Avenue listed at $899,000 had 11 offers!  Ridiculous!

We currently have 42 homes on the market in San Carlos, which is up 40% from where we were at the beginning of March.  There were 6 homes that got listed last week and there were 4 that sold, which is why I have my Spring showers picture over there – we’re getting into the Spring season where we can only hope that more inventory will consistently come on.

The 6 homes that listed last week in San Carlos were:
2651 Debbie Pl – $1,227,00 – 4/2.5 – 1960sf – MLS#8101211
9 Cambridge St – $949,000 – 3/2 – 1450sf – MLS#81013407
2004 San Carlos Ave – $868,000 – 3/2 – 2130sf – MLS#81013161
1225 Highland Ct – $849,888 – 3/2 – 2050sf – MLS#81012851
150 Manor Dr – $849,000 (was listed at $1,095,000 just yesterday!) – 4/3 – 2200sf – MLS#81013369
81 Highland Ave – $649,000 – 3/2 – 1450sf – MLS#81013246

The 4 lucky homes that sold in the last week in San Carlos are listed below.  If I’ve got information on the number of offers a property received, I will include that.
1028 McCue Ave – $689,000 – 3/2 – 1340sf – MLS#81010589
1733 Alameda – $699,000 – 3/1 – 1230sf – MLS#81007150
1423 Cordilleras Av – $989,516 – 3/2 – 1620sf – MLS#81011632 – this property got 1 offer
908 Rosewood Av – $988,000 – 3/2 – 1500sf – MLS#81011617 – this property had 4 offers

The 2 homes that closed in San Carlos last week were:
813 Tamarack Av – listed at $1,165,000 – sold at $1,261,000 – 3/3 – 2540sf – (sold for 8.24% above asking)
117 Beverly Dr – listed at $848,000 – sold at $848,000 – 4/3 – 2180sf

If you missed my absorption rate for last week so much that you can’t go on without it, you know who to call… Val, the San Carlos Data Gal.
business woman sitting on pie chart

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