Market Monday: San Carlos Real Estate Market Update for June 2023

Welcome to the latest San Carlos real estate market update for June 2023! Each month, we provide a snapshot of the market's key indicators, including the number of sales, number of listings, median listing price, and media sale price as well as a historical look back. In today’s Market Monday blog post, we will focus on the data for June 2023. Our goal is to help you make informed decisions about buying, selling, or investing in San Carlos real estate.

Number of Sales:
In June 2023, the San Carlos real estate market saw a total of 28 sales, a 17% increase compared to the previous month. We spoke last month about the increase in inventory and monitoring buyer behavior related to the spike, unsure if interest rates and Summer travel would slow consumption. Sales are up 17% year over year as well, the highest number of sales in the last twelve months, so buyers are responding to the increase by making offers and purchasing homes.

Number of Listings:
The total number of listings in San Carlos for June 2023 was 51, representing a 20% decrease from the previous month. Inventory is up 34% year over year.

Median Listing Price:
The median listing price for homes in San Carlos in June 2023 was $2,375,000, a 1% decrease from the previous month.
Median Sale Price:
For June 2023, the median sales price of homes in San Carlos was $2,367,500, a 4% decrease compared to the previous month.
Comparing the median sale price to the median listing price provides insight into the negotiation power of buyers and sellers in the current market. If the median sales price is consistently lower than the median listing price, it indicates that buyers generally have more room for negotiation. Conversely, if the median sales price is higher than the median listing price, sellers likely have more leverage in the negotiation process. San Carlos' listing and sale price remain in line with each other, indicating a balanced market.

As we wrap up our market update for this month, it's important to remember that the local market evolves and shifts. Keeping an eye on these key indicators each month helps you can make informed decisions about buying, selling, or investing in San Carlos real estate.

If you have any questions about the current state of the market or need assistance with your real estate needs, please don't hesitate to contact our team of local experts. We're here to help you navigate the San Carlos real estate market with certainty!