San Carlos Real Estate Recap & Forecast – August 2013

Posted on 27 August 2013 by vvandervort

Clearly, the trend for the San Carlos real estate market has been up for the past few years, but where are we going from here?  You can see from this graph that March and May of this year gave us the highest sales prices in the past 24 months.  Sales prices in June and July decreased from their previous month.  So what will become of August?  My sense from what I’ve been experiencing in the market is that August is likely to be back up.  Interestingly, interest rates in  June and July were climbing.  While that was happening, we definitely felt a hiccup in the real estate market.

As interest rates have stabilized over the past few weeks, we have continued to experience multiple offers and properties selling over the asking price.  On average, they have been selling 8% above the asking price and selling in 11 days on average.  The preliminary numbers for August show an average sales price in San Carlos of $1,297,000, which would be just slightly higher than March and May of this year.  This data shows us that the San Carlos market is headed back up for August.  Certainly buyers in the area have a lot of enthusiasm for San Carlos and are looking to buy in our community! We continue to experience limited inventory, which is working to the seller’s favor.

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