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The San Carlos Real Estate Week in Review: 8-23-14.

The San Carlos Real Estate Week in Review is the only comprehensive weekly summary of the San Carlos real estate market, and it’s published every Monday on the White Oaks Blog.

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Overbidding Hits a Fever Pitch in San Carlos

Home buyers in San Carlos are bidding more aggressively than ever on homes. The month of February 2014 set an all time record for the percentage above the list price for home sales in San Carlos.

Map of San Carlos Regions

The Realtor Zones. When it comes to residential real estate, the City of San Carlos is divided up into 6 different real estate “zones”: Alder Manor (Area 350), Beverly Terrace (351), El Sereno Corte (352), Howard Park (353), Clearfield Park (354), and Cordes (355). When a home is for sale …

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The San Carlos Real Estate Week in Review: 8-23-14.

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The first real wave of housing inventory in the fall market hit San Carlos last week. Nine new listings debuted in the city, which is a nice jump-start from the first few weeks of August when the market was predictably sluggish. Five homes were put into contract, most notably two of the remaining units at Mirabel Place. If you’re looking for an gauge on whether new, high-density housing will be well received by the buying public, the development at Mirabel Place should be considered a resounding success. Of the six units that have either sold or are in contract, the average days on market is 3. They were literally either selling before they ever hit the market, or getting snapped up as soon as they hit the MLS.

Look for the pace of new listings to pick up in the coming weeks.  The kids are all back to school this week, minus the UC system and perhaps a few private schools.   The fall market is officially underway in San Carlos!

Here are the details from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 8-23-2014:

San Carlos Housing Data 8-23-14 Prior Week
Closed Sales for the Week: 4 4
Average Sold Price: $1,322,250 $1,432,500
Average $/Sq Foot (Sold) $728 $654
Average Percentage Over List Price: 105% 105%
Average DOM of Closed Sales 21 17
No. of Homes Pending Sale: 23 22
No. of Active Listings: 20 17
Average Price of Active Listings: $1,481,112 $1,581,693
Average DOM of Active Listings: 19 21
Average $/Sq Foot (List) $758 $745
Active-Pending Ratio: 0.87 : 1 0.77 : 1

>>> Click Here to Read the Full Post
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San Carlos Symphony at Sunset: Saturday August 23rd

San Carlos Park and Rec Foundation

4th Annual Fundraiser

Looking for something fun and unique to do this weekend in San Carlos?  The Parks and Recreation Foundation of San Carlos is proud to present the 4th Annual Symphony at Sunset on Saturday, August 23, 2014 at the new Burton Park Stage.  This great event is making its fourth consecutive appearance this year, and all proceeds benefit the San Carlos Parks & Recreation Foundation, which raises funds for our city’s 14 Parks. Most recently the Foundation contributed $250,000 for the completion of Burton Park Phase II which includes the new stage, Bocce Courts and renovated basketball courts.

The festivities start at 6:00 PM.  At 7:15 pm, relax at your table or comfortable chair to listen to beautiful music.  Musicians include the Grammy nominated Quartet San Francisco, Pianist Stacy Yi, vocalist Mona Dena, and former members of the San Francisco Symphony, Sarn Oliver & Amos Yang.

Enjoy complimentary food from Piacere, Dessert and coffee from Peets AND complimentary wine tasting by Domenico Winery. Fabulous bottles of wine available for purchase. Great raffle prizes, too!

Individual & group seating available at: www.prfsancarlos.org  Enjoy some great music outdoors while supporting your San Carlos Parks!

PRFSC_SAS_2014_Tickets (1)

 
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The San Carlos Real Estate Week in Review: 8-16-14.

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The late-summer slowdown continued in the San Carlos real estate market this past week as the summer break starts to wrap up.   For those buyers still looking in San Carlos, these are the market conditions that you’ve been waiting for all year — less competition, fewer multiple offers, and continued favorable interest rates.    Just look at the pending sales numbers this past week.  For the 5 homes that went pending, they took an average of over 21 days to get into contract, and most only had one offer to work with.   That’s an incredible difference from just a few months ago when everything was garnering multiple offers and moving in the first 7-10 days.

Granted, inventory is a bit sparse with only 17 homes to choose from, but there are still some really nice homes just sitting on the market right now.   But look for that to change starting around Labor Day.  Inspectors and stagers are reporting that they are getting booked out weeks in advance, which means there are more new listings coming.  I will have two incredibly beautiful San Carlos listings that will be hitting the market in September — both are in prime locations in White Oaks and Howard Park.  Stay tuned to the site in the coming weeks for more info about these stellar homes.

Here are the details from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 8-16-2014:

San Carlos Housing Data 8-16-14 Prior Week
Closed Sales for the Week: 4 4
Average Sold Price: $1,432,500 $1,428,750
Average $/Sq Foot (Sold) $654 $816
Average Percentage Over List Price: 105% 101%
Average DOM of Closed Sales 17 19
No. of Homes Pending Sale: 22 19
No. of Active Listings: 17 21
Average Price of Active Listings: $1,581,693 $1,522,511
Average DOM of Active Listings: 21 33
Average $/Sq Foot (List) $745 $728
Active-Pending Ratio: 0.77 : 1 1.1 : 1

>>> Click Here to Read the Full Post
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What To See This Weekend in San Carlos – 8/15/2014.

Home for sale sign

The inventory of single family homes in San Carlos dropped somewhat from last week, while the number of available condos actually increased.    Heading into this weekend,  total number of homes for sale dropped to 17 homes from 21 last week, while the condo count jumped to 8 condos from 5.   This isn’t terribly surprising, since we are in the final days of summer vacation, and home sellers are generally content to wait until Labor Day to list their homes.

From all indications, it will be a pretty robust fall market.   All of the stagers and property inspectors that I work with are very busy right now — which is a very good indication of what’s coming up around the corner.

Here are a few great homes to see this weekend. Be sure to click on the address for more details and photos:

3166 La Mesa Drive, San Carlos

3166 La Mesa Drive, San Carlos

3166 La Mesa Drive – $1,895,000

For those buyers who still favor hills and views over the flats, 3166 La Mesa Drive may be an interesting option for you.  Just listed yesterday, this home looks very interesting on paper — 5BR/3BA and 2,700 square feet of living space that appears to be beautifully updated.    5-bedroom homes are still somewhat of a rarity in San Carlos, so this one should attract the attention of those families who need that 4th or 5th bedroom.   The outdoor living aspect seems to be well covered, too, with the deck that leads out to a very inviting pool.    La Mesa is a great location for those commuters that favor 280.  It’s literally less than 5 minutes from the onramp to either direction.

I can’t wait to see this one!

3166 La Mesa Drive is listed by my colleague Janis Ahmadjian-Baer, and will be open from 1:30-4:30 on Sunday 8/17.

111 Mirabel Place – $1,285,000

111 Mirabel Place, San Carlos

111 Mirabel Place, San Carlos

On the opposite end of the spectrum of the La Mesa listings is 111 Mirabel Place.   This is the latest offering in this brand new high-density subdivision close to downtown, and it’s a 4BR/3.5BA model that sports 2,186 sq feet of brand new construction.   The community at Mirabel Place is a great option for those who don’t necessarily want a big yard to maintain, and value being closer to downtown and the commute paths.   The subdivision appears to be received very well, with most of the previous units that came to market selling very quickly.

If you don’t know where Mirabel Place is, don’t worry — and don’t trust your navigation system to get you there.   It’s just off San Carlos Avenue where Prospect Street ends.   If you plug 665 Prospect Street into your nav, it should take you there.

111 Mirabel Place is listed by Mike Bohnert of Coldwell Banker, and will be on open on both Saturday and Sunday from 1:00-4:00PM.

Honorable Mention:

3189 La Mesa Drive – $1,699,000: While you’re up looking at 3166 La Mesa Drive, be sure to check out 3189 La Mesa – especially if you don’t need the extra bedrooms.   3189 La Mesa is the 3BR/2BA floorplan with a great back yard. Listed by Green Banker Realty, it will be open on Sunday from 1:30-4:30 PM.

2043 Saint Francis Way – $1,375,000: After a brief hiatus off the market, 2043 Saint Francis is back on again.  Great White Oaks location with tons of curb appeal.  2043 Saint Francis is also a 3BR/2BA floorplan, this one being about 1,543 square feet.  Listed by Joyce Romeo and Tatum Clarke of Intero, it will be open on both Saturday and Sunday from 1:30-4:00 PM.

For a complete list of what’s open this weekend in San Carlos, just click the White Oaks Blog Open House link. If you’re interested in a private showing of any of these properties, just contact me and I’d be happy to arrange it (but please only if you’re not already working with another Realtor.)

Happy house hunting!
_____________________________________________________________________________

Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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“FLX”: SamTrans Launches Pilot Program for Low-Cost Rides in San Carlos..

flx

The other day I was driving through San Carlos, and was following an immaculately clean SamTrans shuttle bus with the letters “FLX” emblazoned across the back.     I certainly hadn’t seen one of these before, nor did I have any idea what “FLX” stood for.  So as usual, curiosity got the better of me and I decided to check it out.

As it turns out, back in January of this year SamTrans launched pilot programs in both San Carlos and Pacifica to provide low-cost “flexible” transit services (hence the letters FLX) for local residents along a fixed route within both communities.   The system simply runs on clearly defined loop at certain intervals during the day, and residents can wait at one of the stops for a quick, cheap ride downtown.   The route stops at logical places, such as the Caltrain Station and the Adult Activity Center downtown.

The added twist to FLX is that residents also have the ability to arrange to be picked and drop-off anywhere within the city –  but they need to call a day in advance to arrange for that service.

For those of you who have lived here long enough, this sounds quite similar to the long-defunct S.C.O.O.T. program that once provided free rides throughout San Carlos.  FLX is not free, but fares range from $1.00 per ride for seniors, to $2.00 for adults.  Day passes for the same groups are available for $2.50 and $5.00, respectively.

Light Ridership.

According to this article in the San Jose Mercury news, ridership on the pilot service has been light — either because people are reluctant to try it, or they simply don’t know about it.  I certainly fall into the latter category, as I’m sure many of you do.  Consequently, only an average of about 12 riders per day are using the service, which is probably not going to be enough to keep SamTrans interested in continuing the service beyond the pilot period.   Figures for the Pacifica were not mentioned in the article.

Below is a map of the FLX route in San Carlos and Redwood City, along with the fare schedule:

Route_FLXS

Customers can arrange to have the bus pick them up and drop them off at locations throughout San Carlos when it’s not on a fixed schedule by calling 650-560-0360 a day in advance. This is a pretty unique approach to helping alleviate the parking crunch downtown, while providing rides to people who may not have convenient modes of transportation.

For those very reasons, I certainly hope it survives the pilot period and becomes a regular service in the City of Good Living….
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Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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The San Carlos Real Estate Week in Review: 8-9-14.

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Much to the chagrin of the kids (but to the joy of parents everywhere), the pilgrimage back to school is only a week away for some, and a few weeks for the rest.   That means that last week and this week are two of the biggest vacation weeks of the summer, as people get their last-dash trips taken before school revs up.     You could certainly feel that lull in the market last week, as only two new listings popped up on the radar, and 4 homes went into contract.  This is quite a drop from the pace of the last few weeks.

Inventory is slowly starting to build back up, and homes are staying on the market slightly longer on average.  The 21 homes that are currently for sale in San Carlos have been listed for an average of 33 days.  This is about twice as long as the average earlier in the year, which should be an indication to buyers that there are some homes out there that may not take multiple offers to get.

Here are the details from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 8-9-2014:

San Carlos Housing Data 8-9-14 Prior Week
Closed Sales for the Week: 4 7
Average Sold Price: $1,428,750 $1,546,925
Average $/Sq Foot (Sold) $816 $774
Average Percentage Over List Price: 101% 106%
Average DOM of Closed Sales 19 25
No. of Homes Pending Sale: 19 21
No. of Active Listings: 21 19
Average Price of Active Listings: $1,522,511 $1,617,568
Average DOM of Active Listings: 33 30
Average $/Sq Foot (List) $728 $704
Active-Pending Ratio: 1.1 : 1 0.90 : 1

>>> Click Here to Read the Full Post

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Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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What To See This Weekend in San Carlos – 8/8/2014.

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For the third straight week, the inventory of homes for sale in San Carlos remained virtually unchanged.  Heading into this weekend we are sitting on a total of 21 homes and 5 condos for sale in the city — virtually identical numbers to last week.  But there are some great new options to see this weekend, and they are outlined below.

As we head into mid-August, look for the listing and sales activity to ramp up quite a bit, as the summer draws to a close and home buyers get back on task finding their new San Carlos residence.   Sellers know that the next 3 months will be a critical market window to hit if they want to get there home sold in 2014, so we should see a significant bump in inventory turns over the next 90 days.

Here are a few great homes to see this weekend. Click on the address for more details and photos:

109 Windsor Drive, San Carlos

109 Windsor Drive, San Carlos

109 Windsor Drive – $1,698,000

Nestled in the trees on a very nice street in Devonshire Canyon, 109 Windsor Drive is a beautiful home that has that elusive 4th bedroom that every family seems to be looking for in San Carlos.   This is a very spacious home, with 3,308 square feet of living space.   The kitchen is nicely updated, and has a very open feel to it.   What many families will love about this home is the back yard — it is large, flat, and nicely landscaped.   It’s one of those characteristics that many buyers with small kids are holding out for.     And if being within the Carlmont High School boundary is high on your list, you’re also covered there.

109 Windsor Drive is listed by Sam Pilli of Keller Williams, and will be open from 1:30-4:30 on both Saturday and Sunday.

928 Elm Street – $1,249,000

928 Elm Street, San Carlos

928 Elm Street, San Carlos

Location, location, location!!   Being close to the lively, northern stretch of Laurel Street is very high on the priority list for many home buyers in San Carlos.   That’s why when a home hits the market on the 900 – 1000 blocks of Elm Street, Rosewood Avenue, or Walnut Street, it gets everyone’s attention.   This cozy section of Howard Park is simply one of the most sought after neighborhoods in all of San Carlos.   The curb appeal and neighborhood feel of this area is second to none, so it’s no surprise that homes don’t hit the market very often in this area.

928 Elm Street is a charming 3BR/2BA Spanish-style home at approximately 1,310 square feet.  If features an updated kitchen and completely remodeled bathrooms.   Like many other homes on this block, it is situated on a flat, spacious 6,000 square foot lot, so expansion possibilities abound with this property.  There are countless other beautiful homes along this street that have done just that, which is yet another reason why this neighborhood is so hot.

928 Elm Street is listed by Joyce Romeo of Intero Real Estate Service, and will be on open on both Saturday and Sunday from 1:30-4:00PM.

Honorable Mention:

21 Hilltop Drive – $1,349,000:  A nice 3BR/2BA home on a great San Carlos street.   Huge garage!   Listed by Lottie Kendall of Today Sothebys, it will be open on both Saturday and Sunday from 1:00-4:00 PM.

For a complete list of what’s open this weekend in San Carlos, just click the White Oaks Blog Open House link. If you’re interested in a private showing of any of these properties, just contact me and I’d be happy to arrange it (but please only if you’re not already working with another Realtor.)

Happy house hunting!
_____________________________________________________________________________

Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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The San Carlos Real Estate Week in Review: 8-2-14.

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Does it feel like house prices have really taken a jump this year in San Carlos?  It wasn’t too many years ago when the average sales price of a home in San Carlos topped the $1M mark, and that seemed like a big deal back then.  especially for a town comprised mostly of 3BR, post WWII homes.

Fast forward to this week, and the average sales price of all of the 10 homes that sold is over $1.5M.  That’s just the average.  Is this just an anomaly?  Not really…

During the course of 2014, the average sales price has never fallen below $1.2M for any given month, and June 2014 set an all-time record for San Carlos with the monthly average sales price of $1,623,504.   Yes, it is getting quite expensive to buy a home in San Carlos.

Here are the details from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 8-2-2014:

San Carlos Housing Data 8-2-14 Prior Week
Closed Sales for the Week: 10 7
Average Sold Price: $1,546,925 $1,136,000
Average $/Sq Foot (Sold) $774 $779
Average Percentage Over List Price: 106% 106%
Average DOM of Closed Sales 25 14
No. of Homes Pending Sale: 21 23
No. of Active Listings: 19 22
Average Price of Active Listings: $1,617,568 $1,415,209
Average DOM of Active Listings: 30 26
Average $/Sq Foot (List) $704 $699
Active-Pending Ratio: 0.90 : 1 0.96 : 1

>>> Click Here to Read the Full Post
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Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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Chuck Gillooley
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