Month-over-Month Changes

The San Carlos real estate market saw some changes in July 2023 compared to June 2023. Here’s a summary:

  • Homes Sold: 22 homes were sold, a 27% decrease from 30 sales the previous month.
  • Median Sale Price: There was a 15% decrease, from $2,367,500 in June to $2,000,708 in July.
  • Days on Market (DOM): The DOM rose to 10 from 7 in June.
  • Percentage of List Price Received: Sellers received 104% of their asking price, an increase from 103% in June.

These changes may indicate a slight slowing in the market, with fewer sales and a decrease in prices.

Year-over-Year Comparison

Comparing July 2023 to July 2022, the following year-over-year changes were noted:

  • Homes Sold: Increased by 57%, from 14 to 22.
  • Homes Listed: Decreased by 42%, from 31 to 18.
  • Median Sale Price: Decreased by 15%, from $2.35M to $2.00M.
  • Average Dollar per Square Foot: Decreased by 14%, from $1466 to $1260.
  • Median Days on Market: Decreased by 17%, from 12 to 10.
  • Months of Inventory: Decreased by 53%, from 1.5 to 0.7.

These statistics reflect a market with more sales but fewer listings and lower prices compared to the previous year.

Price Points and Quadrants

The July 2023 sales details were broken down by quadrants:

  • Top Quadrant: 6 homes sold, Median Sale Price: $3,175,000, Median DOM: 6, Avg. $/Sq.Ft.: $1,219.
  • Second Quadrant: 6 homes sold, Median Sale Price: $2,372,500, Median DOM: 44, Avg. $/Sq.Ft.: $1,110.
  • Third Quadrant: 5 homes sold, Median Sale Price: $1,800,000, Median DOM: 8, Avg. $/Sq.Ft.: $1,133.
  • Bottom Quadrant: 5 homes sold, Median Sale Price: $1,570,000, Median DOM: 9, Avg. $/Sq.Ft.: $1,340.

These details provide insights into the segments of the market that are most active, with an even distribution across the quadrants.

Conclusion

The San Carlos market in July 2023 showed a decrease in sales and prices compared to the previous month but an increase in sales compared to the previous year. The breakdown by quadrants offers valuable insights for buyers and sellers, highlighting the competitive nature of the market.

Data provided by MLSListings and is deemed reliable but not guaranteed.