Sales Slowing Up in San Carlos

We are seeing another slow down in sales, with only 16 during the three-week period of Aug 6-26, compared with 11 for the one-week period prior to that. High and low price points were almost exactly the same during the same periods, but the average price dropped 8% from $1,390,000 to $1,274,750. But in keeping with other Mid-peninsula markets, the average DOM is 31 (compared with 21 for Belmont and 35 for Redwood City). As for Sales vs. List Price, 9 of the 16 homes sold at or above list, and the one large reduction occurred on a high-end property. Nothing too terribly different in the overall stats, and I think San Carlos will continue to do well. Next week’s information should be more telling, as the majority of homes close at month end. We shall see…..

SALES PRICES
Under $1,000,000: 2
Over $1,000,000: 14
Highest: $1,975,000
Lowest: $835,000
Average: $1,274,750

DAYS ON MARKET
Least: 6
Most : 151
Average: 31

SALES VS LIST PRICE
Low: -18.5%
High: +17%
Average: +.7%