San Carlos Real Estate Absorption Rate for Week Ending May 22, 2010

Posted on 23 May 2010 by vvandervort

We are experiencing major absorption here in the San Carlos real estate world!  Great news for sellers, not such great news for buyers.  We are back to 48 active listings of San Carlos single family homes.  Just can’t seem to inch up in inventory.  We had 5 properties get listed last week and NINE went pending in San Carlos!

Here are the 5 that hit the market last week in San Carlos:
1322 Eaton Ave – $869,000 – 3/1.5 – 1,473 sf
11 Highland Ave – $829,000 – 3/2.5 – 1,720 sf
343 Manzanita Ave – $799,000 – 2/1 – 1,050 sf
794 Cedar St – $749,000 – 2/1 – 930 sf
770 Neal Ave – $549,000 – 2/1 – 630 sf – Dang, that is cheap, but it is also small and not in very good shape.

Below are the 9 single family homes that sold last week in San Carlos.  The average days on market (DOM) was 46.  The week before we had an average of 26 DOM for the homes that went pending that week.  Last week the average was skewed a bit by Bay View having been on the market for 172 days.
1985 Saint Francis Way – $1,250,000 – 4/3 – 2,140 sf – 42 DOM
530 Walnut St – $1,099,000 – 5/4 – 3,300 sf – 23 DOM
2016 Eaton Ave – $1,098,000 – 3/2.5 – 2,580 sf – 8 DOM
852 Cedar St – $1,029,000 – 3/2.5 – 1,890 sf – 8 DOM
233 Bay View Dr – $989,000 – 3/3 – 2,650 sf – 172 DOM
885 Sunset Dr – $849,000 – 4/3 – 1,610 sf – 85 DOM
898 Orange Ave – $799,000 – 3/2 – 1,240 sf – 14 DOM
950 Elm St – $799,000 – 2/1 – 1,500 sf – 11 DOM
188 Winding Way – $799,000 – 4/2.5 – 2,080 sf – 54 DOM

There were 8 homes that closed escrow in San Carlos last week.  They were:
1962 San Carlos Ave – listed at $639,900 – sold at $671,000 – 3/1 – 1,260 sf
1011 Alameda – listed at $749,000 – sold at $740,000 – 4/2 – 1,880 sf
728 Cedar St – listed at $779,000 – sold at $790,000 – 2/1 – 1,020 sf
5 Pepper Ln – listed at $849,000 – sold at $849,000 – 3/2 – 1,240 sf
2733 Clifford Ave – listed at $1,035,000 – sold at $1,035,000 – 3/1 – 1,150 sf
2803 Eaton Ave – listed at $1,049,000 – sold at $1,050,000 – 4/2 – 1,850 sf
3328 Melendy Dr – listed at $1,399,950 – sold at $1,399,950 – 4/3 – 3,460 sf
1340 Orange Ave – listed at $1,950,000 – sold at $2,050,000 – 6/4 – 3.400 sf

For all of you buyers out there, here’s hoping for a bunch of new listings in San Carlos.  However, with the Memorial Day weekend coming up, we may have sellers delaying putting on the market until we get through the holiday.

That’s it for now from Val, the San Carlos real estate data gal!

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