San Carlos Real Estate Market Update - October 2025

The San Carlos market continues to show resilience and opportunity. Looking at three-year trends through September, the story is one of strong recovery in homes, stabilization in condos, and appreciation in land values.

🏡 Homes

• 2023: $23.5M from 54 sales, with an average price of $434,503
• 2024: $10.7M for 27 sales, with an average price of $394,519
• 2025: $20.3M for 53 sales, with an average price of $383,606

Homes had a sharp dip in 2024 but rebounded dramatically in 2025, nearly returning to 2023 volumes. Prices have softened slightly but remain stable.

🏢 Condos

• 2023: $8.36M from 27 sales, with an average price of $309,667
• 2024: $3.54M from 13 sales, with an average price of $272,000
• 2025: $2.46M for 9 sales, with an average price of $273,000

Condo sales have steadily declined over three years in both volume and number of transactions. Prices are holding steady, suggesting the market is finding a bottom.

🌄 Lots

• 2023: $2.08M for 24 sales, with an average price of $86.832
• 2024: $1.39M for 13 sales, with an average price of $106,806
• 2025: $1.0M for 8 sales, with an average price of $125,235

While fewer lots are changing hands each year, the average price has climbed steadily, reflecting the growing value of land in San Carlos.

📊 Market trends (2023-2025).

The following charts illustrate sales volume and number of sales trends for homes, condos, and lots over the past three years.

💡 What does this mean for you?

For Buyers: Home buyers should act quickly—demand is surging, but prices have not yet followed. Condo buyers may find motivated sellers in a slower market. Lot buyers should be aware that while fewer are available, they are commanding higher prices.

For Sellers: Homeowners have an excellent opportunity to list, as demand far exceeds last year’s pace. Condo and Lot owners should price competitively to attract attention in a softer sales environment.

At REMAX First Choice Realty, our local expertise and commitment to the San Carlos community mean we are uniquely positioned to help you make the most of today’s market—whether you are buying your dream home or selling your property with confidence.

Thank you for continuing to trust RE/MAX First Choice Realty with your real estate needs. Whether you’re buying, selling, or just keeping an eye on the market, we’re here to guide you with experience, integrity, and results.