(Almost) Nothing for Sale in the Flat-Lands of San Carlos…

It's no secret that the San Carlos real estate market is being effectively strangled by the lack of inventory right now.  There are simply way more buyers looking in San Carlos than there are available homes for sale, and this continuing disparity is frustrating for these buyers who have checkbooks in hand, loan pre-approval in their pockets, and ready to buy just about anything that comes on the market.

At the time of this post, there are only 24 single family homes for sale in all of San Carlos;  but that's only part of the story.   Of those 24 homes for sale, only 3 of these listings (or 1.8%) reside in the three Realtor zones that we generally refer to as the flat-lands of San Carlos!  There are two listings in Howard Park, one listing in White Oaks, and no listings in Clearfield park.   See the map below for a rough outline of this area:

The Flats

View San Carlos Flatlands in a larger map

The part of San Carlos the resides in the “flats” is high on the priority list for many buyers who are looking to make San Carlos their new home.  The proximity to downtown and the desire to have a flat yard are the primary reasons, and living within the White Oaks School boundaries also remains a big draw to that particular neighborhood.

But for now, buyers are forced to be patient and wait for something to come on the market.  They also know that when a well priced home in good condition comes up in this area, competition will be fierce just as it was at the end of 2009.  Multiple offers won't be going away anytime soon, especially if this imbalance remains.