Sale Prices - Belmont, San Carlos ...
Someone mentioned why didn't I include statistics for San Mateo and San Carlos too? So here they are. Look at the number of sales. Twenty-0ne for Belmont, 29 for San Carlos and 60 for San Mateo. On average, the sales price is about $100,000 more than the asking price. Amazing.
This is what happens when we have more demand than we have supply. Still a seller's market, but not everyone has the same results... (FYI pending means the seller has received and accepted an offer but they have not yet transferred ownership in escrow, i.e. it's still in process.)
In Belmont, 19 homes were introduced to the market in October, of those, three are still available, 3 sold, 12 are pending and one was canceled.
In San Carlos, 23 homes were introduced to the market in October, of those, 10 are active, 4 sold, 8 are pending and one canceled.
In San Mateo, 65 homes were introduced to the market, of those, 24 are still available, 5 sold, 35 are pending and one was rented out.
There is a lag time between the time a home is introduced to when it sells. There needs to be time for potential buyers to view it, decide if it is what they want, read the disclosures, make an offer and have it accepted. That time frame is expressed in DOM (days on market). Then there is another time frame and that is from the time the contract is signed until it closes escrow (sells). That time frame is usually about 30 days if there is a loan and a week if there isn't.
Call me with your questions. I'd love to hear from you!
This is what happens when we have more demand than we have supply. Still a seller's market, but not everyone has the same results... (FYI pending means the seller has received and accepted an offer but they have not yet transferred ownership in escrow, i.e. it's still in process.)
Status: Sold (October '14) (21) Belmont |
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List Price | DOM | Sale Price | Beds | Baths | Yr Built | SqFt | Lot Size | Price/Sqft | ||
Min | $838,000 | 6 | $900,000 | 2 | 1 | 1929 | 920 | 4,500 | $433 | |
Max | $1,866,000 | 74 | $2,019,000 | 5 | 4 | 2008 | 3,080 | 36,800 | $1,048 | |
Avg | $1,232,429 | 18 | $1,320,833 | 3 | 3 | 1964 | 1,977 | 9,175 | $707 | |
Status: Sold (October '14) (29) San Carlos |
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List Price | DOM | Sale Price | Beds | Baths | Yr Built | SqFt | Lot Size | Price/Sqft | ||
Min | $745,000 | 0 | $740,000 | 2 | 1 | 1939 | 814 | 2,500 | $478 | |
Max | $2,250,000 | 98 | $2,013,000 | 5 | 3 | 2012 | 3,340 | 20,560 | $1,080 | |
Avg | $1,374,980 | 17 | $1,429,246 | 3 | 2 | 1962 | 1,871 | 8,083 | $810 | |
Status: Sold (October '14) (60) San Mateo |
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List Price | DOM | Sale Price | Beds | Baths | Yr Built | SqFt | Lot Size | Price/Sqft | ||
Min | $508,000 | 4 | $570,000 | 2 | 1 | 1906 | 820 | 2,750 | $316 | |
Max | $4,195,000 | 105 | $4,350,000 | 7 | 6 | 2000 | 5,360 | 21,344 | $1,079 | |
Avg | $1,158,680 | 20 | $1,253,167 | 3 | 2 | 1950 | 1,851 | 6,884 | $692 | |
There is a lag time between the time a home is introduced to when it sells. There needs to be time for potential buyers to view it, decide if it is what they want, read the disclosures, make an offer and have it accepted. That time frame is expressed in DOM (days on market). Then there is another time frame and that is from the time the contract is signed until it closes escrow (sells). That time frame is usually about 30 days if there is a loan and a week if there isn't.
Call me with your questions. I'd love to hear from you!