San Carlos real estate market update January 2024

The San Carlos real estate market experienced a slow start in 2023, and resale properties struggled to gain ground. However, as the year progressed, the market showed signs of improvement, culminating in a healthy 41% increase in dollar value at year-end. While the number of sales declined by 10 %, the condo market experienced an amazing year, with a 23 % increase in sales and a 55 % increase in dollar value.

On the other hand, the number of home sales decreased by about 25%, but the dollar value increased by 31%. The average price of a home was $$446,535 USD, although the median home price of $$389,000 USD is a better measure of market performance. It is important to note that a single $3 million sale skewed the median price, which is not representative of most sales.

The commercial market also contributed to a solid year, with three sales in 2023. Overall, despite a slow start, the San Carlos real estate market proved resilient and ended the year on a high note.

For all information: Year-to-date real estate sales

In addition, there are some properties under contract in the month of December: 2 lots and a house that are expected to close in the next few months.