Jan 2023 San Carlos CA Real Estate Market

The Jan 2023 San Carlos CA real estate market is showing signs of price stabilization after a big price drop while housing inventories remain lean.

Home Prices Down 21%

The Jan 2023 San Carlos CA real estate market has lost two years of appreciation and is down 21% from its all time highs. Today homes in San Carlos are selling for roughly $1,225/sf of living space. They were selling for $1,545/sf in June 2022 and then it was all downhill after that. The good news is that prices for January were up about 7% over December 2022, which could mean we are done with declining home prices. Meantime, if you’re selling, price your home correctly from the start or else it will linger.

Sales, Inventory & New Listings Stable

In Jan 2023 the San Carlos CA real estate market had the following stats:

10 sales of single-family homes. This is close to normal, the average is 12 sales in the previous three years.
11 Active # of single-family Homes. This is also lean since the average is 18 in the previous three years. There are very few homes for sale in San Carlos CA!
14 New single-family home listings. Again, very lean since the average is 23 homes in the previous three years.

So, what we’ve seen is low inventory in San Carlos CA with almost a normal quantity of sales while there have been much lower than normal new listings coming to market. So, while the real estate market has slowed down in the region, San Carlos’ low supply of new homes has prevented inventories from building up.