My office, Today Sotheby's International Realty, is located downtown San Carlos, California. I am asked many times a week, "how's the market?"
Today we'll take a look at the single family home market for San Carlos and for Belmont, the adjacent town.
Both towns are similar in population (27,081 for Belmont; 29,797 for San Carlos as of 2016.) Both have good schools which draws many people to these towns. Both are located mid-way between San Francisco to the north and the Silicon Valley to the south. Belmont is known for it's more winding streets and Carmel-like feel. (The first photo captures that.) San Carlos enjoys a delightful, vibrant downtown that draws people in. (Pictured below.) Both have access to 2 freeways and CalTrain.
As of this morning, our MLS shows:
- Belmont - 10 active listings; median list price $1,725,000. There have been 8 closed sales that went into contract 12/1/17 or later; median sale price $1,825,500.
- San Carlos - 7 active listings; median list price $2,780,000. Sixteen homes have closed that went into contract 12/1/17 or later; median sale price $1,842,000.
With only 17 active listings combined, with a population of roughly 56,878, it is easy to see the need for more inventory. The following two charts show details from 2017 for each of the two town.
If you are wondering if this might be a good time to sell your property, call me and we'll talk. From a dollar perspective, it's an excellent time, but that doesn't make it the right time for everyone.
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