San Carlos is “in play” for many buyers. Over the last 30 days, San Carlos has had 30 single family residences go into contract. While we are not out of the woods with regard to our local real estate market, the San Carlos market has undeniably picked up over the last four weeks. Our inventory, which spiked two months ago at 77 Active homes, has dwindled to a mere 53.
While some will disagree, there is a growing feeling among buyers and sellers that the San Carlos market may have bottomed out. Whether that notion is true will remain to be seen. One item which could derail this optimistic suggestion is that we may experience a jump in interest rates and a nice dose of inflation in the very near future. In fact, interest rates have already had a moderate jump over the last ten days.
This post will be updated again next week with updated numbers.