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San Carlos Real Estate June 7, 2013

The Hills are Alive…in San Carlos.

by Chuck Gillooley

The Sound of Money.

It’s funny how home buyer’s preferences seem to shift over time.  About a decade ago, home buyers flocked to the hills of San Carlos to take advantage of the newer, larger homes and the incredible bay views that are unique to the San Carlos hills.   But over the past few years, that focus has shifted back toward the flatlands as the chic downtown shopping district of San Carlos became a top destination point along the Peninsula.  Consequently, many San Carlos buyers have been eschewing the homes in the hills in favor of homes in the flats so that they live closer to the bustling downtown area of San Carlos.

But the amazing real estate boom of 2013 has cast a very favorable light on all of San Carlos, including the aforementioned “hills” area.   The Beverly Terrace and Alder Manor regions, which comprise the western portion of the City, have posted some very impressive sales in 2013, which suggests that buyers are embracing the hilly regions of San Carlos once again.

The Numbers.

There have been some absolutely eye-popping sales that have closed in the past few months in the hills of San Carlos.  The table below highlights just a few of the more notable sales, as well as how high above the list price the homes fetched.  Note that all of these sales occurred since the beginning of the year.   Just click on the address for more details about each home:

Address List Price Sold Price
Amount Over List
DOM
1090 Crestview Drive $1,549,000 $1,855,000 +$306,000 (+19.8%)
10
108 Dundee Lane $1,495,000 $1,757,000 +$262,000 (+17.5%)
11
147 Leslie Drive $1,385,000 $1,622,000 +$237,000 (+17.1%)
14
909 Heather Drive $1,065,000 $1,280,000 +$215,000 (+20.2%)
14
248 Crestview Drive $1,199,000 $1,410,000 +$211,000 (+17.6%)
10
57 Chilton Avenue $1,149,000 $1,340,000 +$191,000 (+16.6%)
21
1364 Crestview Drive $1,188,888 $1,350,000 +$161,112 (+13.6%)
11

Not to be left out of the game, the many condos and town-homes that dot the upper ridge of San Carlos have also posed similar breathtaking gains this year. It has become pretty common to see some of the larger units surpassing the $1M mark again.

So if you were thinking that you’d perhaps gain a competitive advantage in this market by looking in the hills where there might  be fewer buyers, I’m afraid that ship has already sailed.    But if you’re a homeowner in the hills that has been holding off on selling your home for more favorable market conditions, the tide probably couldn’t be better than what it is right now.

The Hills of San Carlos are very much alive again.
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The Hills are Alive...in San Carlos., 5.0 out of 5 based on 1 rating
Comments 3
  • I grew up in the hills and walked up and down Melendy SO many times in jr high and high school that when I was looking to buy, my number 1 priority was FLATLANDS! The hills are nice and the views are beautiful, for those who have them. We’re in White Oaks and love it.

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  • We live in the lower hills, but all I know is that I am in much better shape from walking our neighborhood than I was before we moved here! Definitely a plus!

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  • fortunate enough to live in the lower canyon which allows us to have a bit of a view, gorgeous trees, wildlife, and the ability to walk downtown. Many of my neighbors walk to and from Caltrain.

    I am wondering if there will ever become a day when the rest of San Carlos will be referred to by its actual (not real estate area) name on your site.. the way White Oaks is? “Beverly Terrace” is a huge area with many distinct neighborhoods that have their own history and character.. such as Devonshire Canyon.

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