San Carlos 3rd quarter market overview
We invite you to take a look at the single family residential market overview for San Carlos for the 3rd quarter of the year. The tables below provide the sales data for single family homes in the 3rd quarter of 2014 as compared to the 3rd quarter of 2013.[table id=SC_3rdq /]
Single family home prices show significant increase in the 3rd quarter from 2013 to 2014, the average list price increased 19% from $1,144,802 to $1,358,503. The average list price per sq ft increased 10% rising from $657 per sq ft to $725 per sq ft. Overall, the average sales price and median sales price in San Carlos increase by 16%.
The average sales price in the 3rd quarter of 2014 was $1,446,115 versus $1,244,254 in the 3rd quarter of 2013. The median sales price in the 3rd quarter of 2014 is $1,391,000 versus $1,201,000 in the 3rd quarter in 2013. The average sold price per square feet in the 3rd quarter of 2014 is $782 versus $722 in the 3rd quarter of 2013. In the 3rd quarter of 2014, homes sold on an average of 20 days on the market and the average sales price over list price being 106% which is a decrease of 4% from 2013.
The number of sales transactions had decreased by 8% from a total of 91 sales transactions in the 3rd quarter of 2013 to 84 in the 3rd quarter of 2014. However, the total sales volume was up for the 3rd quarter of 2014 by 7% at $121,473,638 versus the $113,227,148 in the 3rd quarter of 2013. This is due to the overall increase of the sales price.
The highest price home sold in the 3rd quarter of 2014 was $2,475,000 whereas the highest price home sold in the 3rd quarter of 2013 was $2,250,000. The lowest price home sold in the 3rd quarter of 2014 was $800,000 and the lowest price home sold in the 3rd quarter of 2013 was $620,000.
For those of you who are not familiar with the MLS area, San Carlos consists of 6 MLS areas:
Area 350 – Alder Manor
Area 351 – Beverly Terrace
Area 352 – El Sereno Corte (also known as White Oaks)
Area 353 – Howard Park
Area 354 – Clearfield Park
Area 355 – Cordes
Here’s a map of the San Carlos neighborhood:
TOP PERCENTAGE GAIN IN AVERAGE SALES PRICE
In the 3rd quarter of 2014 as compared to the 3rd quarter of 2013, Alder Manor (area 350) has the top percentage gain in average sales price with an increase of 20%.
Coming in at a close second is White Oaks (area 352) with an increase of 19% on its percentage gain in average sales price. And Beverly Terrace (area 354) has the third percentage gain with an increase of 15%.
TOP PERCENTAGE GAIN IN AVERAGE SOLD PRICE PER SQUARE FEET
A jump in the average sold price per square feet from the 3rd quarter in 2013 to the 3rd quarter in 2014 for the neighborhood in Clearfield Park brought this area to the top percentage gain with an increase of 31% ($895 per sq ft in 2014 versus $681 per sq ft in 2013). Howard Park has the second top percentage gain on the average price per square feet with an increase of 17% ($832 per sq ft in 2014 versus $714 per sq ft in 2013).
Beverly Terrace has the third percentage gains on the average price per sq ft with an increase of 12% ($772 per sq ft in 2014 versus $692 in 2013).
THE MOST EXPENSIVE VALUATION PER SQUARE FEET
In the 3rd quarter of 2014, White Oaks has the highest price sold per sq ft -$1,157 per sq ft
(154 ALBERTA AVE). This home has 3 bedrooms/1 bath with a 1,210 sq ft interior on a 5,712 sq ft lot. It was sold for $ 1,400,000.
The second highest price sold per square ft is at $1,088 per sq ft (928 ELM STREET). This Spanish style one story home has 3 bedrooms, 2 baths, and a 1,310 sq ft interior on a 6,000 sq ft lot. It sold for $1,425,000.
The third highest price sold per sq ft is in the White Oaks neighborhood at $1,085/sq ft (1349 ROSEWOOD AVE). Sold for $1,150,000, this one story home features 2 bedrooms, 1 baths with a 1,060 interior sq ft on a 4,800 sq ft lot.
THE TOP NUMBER OF SALES TRANSACTIONS
In the 3rd quarter of 2014, White Oaks has 22 sales transactions, Beverly Terrace has 21, and Cordes has 16.
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