Home prices in San Carlos, CA soared in 2013, with the median price of homes listed for sale on our multiple listing service up approximately 21% over 2012 levels, and 2012 was a year of strong appreciation, too.
Low interest rates and a strong local economy resulted in many ready and able buyers. The problem encountered was one of low inventory; there simply weren't enough homes for the number of buyers wanting to settle in San Carlos.
The ratio of the average sales price to list price as shown below gives a clear picture of the 2013 housing market in San Carlos. With sales prices 6%, 8%, 10% over list price for the last 11 months, you know it's a robust market.
How will 2014 be for sellers and buyers in San Carlos CA? It isn't possible to predict, but as of late January there are only 6 single family homes listed for sale on our multiple listing service. Of those 6, only 1 is listed under $1,000,000. (That one is a 2-bedroom, 1-bath home listed at $849,950.) There are 9 pending sales.
Homeowners, if you are thinking about selling, let's talk and see if it is the right time for you.
Buyers, don't be discouraged; armed with knowledge, you'll be in a position to realize your dream of home ownership. The market conditions are challenging, but with interest rates still low, your purchasing power is great. Contact me if I can help.