San Carlos Market Activity Report - Part 2

Last post I talked about the current level of activity for single family homes in San Carlos and compared it to San Diego County as a whole. In this post I want to focus on the San Carlos condo market. The average price of condos in San Carlos have come down 45.3% from the peak, while the average price of single family homes has only dropped 27.3%. As a result of their newfound affordability, the demand for condos in San Carlos has shot up dramatically.

Here are the current market stats for condos in San Carlos:

ACTIVE LISTINGS: 8
PENDING LISTINGS: 19
CONTINGENT LISTINGS: 13
SOLD LISTINGS (6 months): 49 (8.1 per month)

Currently, there are only 8 active listings compared to 32 with accepted offers! Just looking at the sold listings, 8.1 have been selling every month. The sold data shows that the market is recycling itself every month (a sign of a very healthy market). The pending and contingent data show that the market is accelerating.

Here are the current market stats for condos in San Diego County:

ACTIVE LISTINGS: 2,649
PENDING LISTINGS: 2,416
CONTINGENT LISTINGS: 1,869
SOLD LISTINGS (6 months): 6,101 (1,016 per month)

As you can tell, the market in San Diego County is healthy, but no where near as strong as the San Carlos area. The ratio of pending listings to active listings in San Carlos is 2.375. For San Diego County it's only 0.912. In other words, San Carlos has 2.6 times more demand as compared to supply than the County as a whole.

You can use the same breakdown with the sales data. The demand to supply ratio for San Carlos is 1.0125 (8.1/8). The demand to supply ratio for San Diego County is only 0.38354 (1,016/2,649). Comparing the two, San Carlos has 2.64 times more demand as compared to supply than the County as a whole.

Additionally, the average market time of a sold listing in San Carlos is only 54 days. The average market time for a sold listing in San Diego County is 64 days.

If you're priced out of single family homes, a condo could be a great investment. Condos in San Carlos start at $75,000 and range all they way to $400,000. There really is something for every budget.