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The San Carlos Real Estate Week in Review: 11-30-13.

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Bring on December.

Despite the shortened holiday week, it was still a surprisingly busy one for those buyers who chose to stay in town and shop for homes.   5 homes went into contract in that short period of time, and two smart sellers actually bucked the normal trend and decided to list their home during the Thanksgiving week.     They are in very select company, because as of this morning there are only 6 single-family homes for sale in the entire City of Good Living — easily the lowest level of the entire year.

Will other sellers take note of the near-perfect selling conditions and list their homes in December, or will they take the more traditional path and wait until the Spring 2014 market?   This week should give us our answer.   Stay tuned…

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 11-30-2013:

San Carlos Housing Data 11-30-13 Prior Week
Closed Sales for the Week: 5 1
Average Sold Price $1,046,400 $1,748,375
Average $/Sq Foot (Sold) $654 $920
Sold Price vs Orig List (%) 107% 104%
Average DOM of Closed Sales 19 11
No. of Homes Pending Sale: 29 28
Inventory of Active Listings: 6 11
Average Price of Active Listings: $1,600,658 $1,634,909
Average DOM of Active Listings: 61 48
Average $/Sq Foot (List) $603 $577
Active-Pending Ratio: 0.21 : 1 0.39 : 1

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The San Carlos Real Estate Week in Review: 11-23-13.

Nov 28

A Week Off.

As we head into the short holiday week, home buyers in San Carlos won’t need to allocate too much time looking for homes over the extended weekend.  As of this morning, there are only 10 single-family homes for sale in the entire city, and that number will likely drop significantly in the coming days as several of the newer listings will be taking offers prior to Thanksgiving.   We will definitely be in the single-digits before too long.

Hopefully, more sellers will opt to take advantage of the market conditions and decide to list their homes in December — otherwise, it’s going to be a dry-spell to end this year for prospective home buyers.

Because of the short week and the lack of transactions to report, The San Carlos Real Estate Week in Review series will very likely take a one week hiatus.  The next edition will be on Monday, December 9th and will include the combined data for both weeks.   In the meantime, I hope everyone has a happy and safe Thanksgiving!

Here are the numbers for 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 11-23-2013:

San Carlos Housing Data 11-23-13 Prior Week
Closed Sales for the Week: 1 2
Average Sold Price $1,748,375 $1,200,000
Average $/Sq Foot (Sold) $920 $745
Sold Price vs Orig List (%) 104% 111%
Average DOM of Closed Sales 11 19
No. of Homes Pending Sale: 28 25
Inventory of Active Listings: 11 11
Average Price of Active Listings: $1,634,909 $1,703,545
Average DOM of Active Listings: 48 47
Average $/Sq Foot (List) $577 $594
Active-Pending Ratio: 0.39 : 1 0.42 : 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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The San Carlos Real Estate Week in Review: 11-16-13.

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Heading into the Holidays.

We are now less than two weeks from Thanksgiving, and the inventory of homes for sale in San Carlos is dropping like the evening temperature.  In a real estate year that seems to shrug off the calendar, homes are still getting snapped up at a frantic pace even this late in the season.   As of this morning, there are only 11 homes for sale across the entire town.  That number actually dropped well below 10 this weekend , which briefly put us at the lowest level of the entire year.

Sellers are warming to the fact that (for the right house) they can put their home on the market this late in the year and still have a horde of buyers beating a path to their door.   This doesn’t mean it’s the right decision for every seller, and some will rightfully opt to wait until the Spring market of 2014 to list their homes.    But when you realize that there’s not a single home for sale in all of White Oaks or Oak Park right now,  you simply can’t ask for more favorable conditions to sell your home.

Here are the numbers for 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 11-16-2013:

San Carlos Housing Data 11-16-13 Prior Week
Closed Sales for the Week:
2 8
Average Sold Price
$1,200,000 $1,391,385
Average $/Sq Foot (Sold)
$745 $752
Sold Price vs Orig List (%) 111% 106%
Average DOM of Closed Sales 19 19
No. of Homes Pending Sale: 25 21
Inventory of Active Listings:
11 13
Average Price of Active Listings: $1,703,545 $1,606,923
Average DOM of Active Listings: 47 48
Average $/Sq Foot (List) $594 $636
Active-Pending Ratio:
0.44 : 1 0.62 : 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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The San Carlos Real Estate Week in Review: 11-9-13.

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Entry-Level Insanity.

There doesn’t seem to be anything that can hold back the entry-level market in San Carlos right now.  To give you an idea of how much that particular segment of the market has grown this past year, the definition of an “entry-level” home San Carlos used to be one that was priced at $1M or less.  Now, it’s safe to say the upper boundary of the entry-level home in San Carlos is about $1.5M — which is about the going rate for the benchmark clean, updated 3BR home in the flats.

The sales numbers below illustrate this point very well.   For the 6 homes that were listed for under $1.5M, they all sold with multiple offers in about 10 days, and got an average of 115% of the asking price.   For the two homes that were listed above $1.5M,  they fetched 93% of their asking price, while taking nearly 41 days to sell.    That is an amazing contrast, and serves to illustrate just how competitive the lower end of the market still is in San Carlos.

Here are the numbers for 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 11-9-2013:

San Carlos Housing Data 11-9-13 Prior Week
Closed Sales for the Week:
8 4
Average Sold Price
$1,391,385 $1,462,000
Average $/Sq Foot (Sold)
$752 $720
Sold Price vs Orig List (%) 106% 104%
Average DOM of Closed Sales 19 39
No. of Homes Pending Sale: 21 22
Inventory of Active Listings:
13 17
Average Price of Active Listings: $1,606,923 $1,384,056
Average DOM of Active Listings: 48 37
Average $/Sq Foot (List) $636 $651
Active-Pending Ratio:
0.62 : 1 0.77 : 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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The San Carlos Real Estate Week in Review: 11-2-13.

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Is it Fall Yet?

With the exception of the chilly evenings and the fact that it’s now dark at 6:00 PM, it certainly doesn’t seem like fall here in San Carlos.    The warm, sunny days that we’ve been enjoying has been a blessing for those homes that are still on the market in San Carlos.  I can tell you first-hand that holding a house open in the rain is absolutely no fun, and it keeps all but the die-hard buyers away.  The incredible weather this past weekend had buyers out in droves, as open houses were very well attended this weekend.   Chalk the awesome weather up as yet another reason why so many people want to live in San Carlos, or anywhere on the Peninsula.

Here are the numbers for 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 11-2-2013:

San Carlos Housing Data 11-2-13 Prior Week
Closed Sales for the Week:
4 7
Average Sold Price
$1,462,000 $1,142,857
Average $/Sq Foot (Sold)
$720 $674
Sold Price vs Orig List (%) 104% 110%
Average DOM of Closed Sales 39 10
No. of Homes Pending Sale: 22 21
Inventory of Active Listings:
17 15
Average Price of Active Listings: $1,384,056 $1,543,400
Average DOM of Active Listings: 37 39
Average $/Sq Foot (List) $651 $602
Active-Pending Ratio:
0.77 : 1 0.71 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

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: 10-26-13.

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Low Inventory.

Another strong buying week has once again pushed the inventory of single family homes in San Carlos down to paltry levels.    Five single family homes went into contract last week with only 3 new listings to replace them.  That net deficiency pushed the number of available homes down to 15 at the time of this post.   Worse yet, with 4 more listings that have set offer dates for this week, that inventory number will continue to plummet if there isn’t a significant influx of new homes today or tomorrow.

If you’re still on the fence about listing your home this late in the year, you should have no qualms about doing so.  You could not ask for more favorable market conditions to sell a home than what we have right now.

Here are the numbers for 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 10-26-2013:

San Carlos Housing Data 10-26-13 Prior Week
Closed Sales for the Week:
7 9
Average Sold Price
$1,142,857 $1,179,056
Average $/Sq Foot (Sold)
$674 $592
Sold Price vs Orig List (%) 110% 111%
Average DOM of Closed Sales 10 24
No. of Homes Pending Sale: 21 22
Inventory of Active Listings:
15 16
Average Price of Active Listings: $1,543,400 $1,550,615
Average DOM of Active Listings: 39 42
Average $/Sq Foot (List) $602 $577
Active-Pending Ratio:
0.71 : 1 0.73 : 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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The San Carlos Real Estate Week in Review: 10-19-13.

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Market Strength.

The real estate market in San Carlos has seemed to survive everything that has been thrown at recently — rising interest rates, temporary government shutdown, and the corresponding stock market volatility — and yet it keeps chugging along.  This past week’s home closing data showed us that homes in San Carlos are still selling at a blistering pace, and are fetching significant premiums over the asking price (111%).

Even though only 5 listings went pending this week, the majority of these saw fierce competition and garnered multiple offers, as you will see when the sales numbers are published after they close escrow.   So buyers take heed that the market is still ultra-competitive here in San Carlos — and should remain so throughout the fall/winter buying season.

Here are the numbers for 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 10-19-2013:

San Carlos Housing Data 10-19-13 Prior Week
Closed Sales for the Week:
9 4
Average Sold Price
$1,179,056 $1,127,750
Average $/Sq Foot (Sold)
$592 $739
Sold Price vs Orig List (%) 111% 97%
Average DOM of Closed Sales 24 28
No. of Homes Pending Sale: 22 28
Inventory of Active Listings:
16 19
Average Price of Active Listings: $1,550,615 $1,485,781
Average DOM of Active Listings: 42 31
Average $/Sq Foot (List) $577 $598
Active-Pending Ratio:
0.73 : 1 0.68 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

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.
Get the best coverage on the San Carlos real estate market delivered right to you!
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The San Carlos Real Estate Week in Review: 10-12-13.

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The Fall Push.

It was a little disconcerting for San Carlos home buyers last week when the inventory of homes for sale plummeted to 12.   For a brief moment, there were thoughts that the fall market was going to maybe pack it in for the year since we’ve now hit mid-October.  But we’re still well over a month before the Thanksgiving holiday, and that means there’s still plenty time for a home owner to sell their home and close the deal before the Thanksgiving break.  And there are many in the business who feel that the real estate market this year is completely oblivious to any calendar anyway.

Well, as if almost on queue, nine new listings debuted in San Carlos this past week, making it a very busy weekend for house hunters — especially since open house hours were competing directly with the San Carlos Art and Wine Faire.   This burst of new listings pushed the inventory back up to 19 homes for sale as of this morning.  That’s still not a huge number for this time of the year, but a bit less frightening for sellers than 12.

Here are the numbers for 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 10-12-2013:

San Carlos Housing Data 10-12-13 Prior Week
Closed Sales for the Week:
4 6
Average Sold Price
$1,127,750 $1,044,917
Average $/Sq Foot (Sold)
$739 $677
Sold Price vs Orig List (%) 97% 103%
Average DOM of Closed Sales 28 11
No. of Homes Pending Sale: 28 28
Inventory of Active Listings:
19 12
Average Price of Active Listings: $1,485,781 $1,820,663
Average DOM of Active Listings: 31 43
Average $/Sq Foot (List) $598 $572
Active-Pending Ratio:
0.68 : 1 0.43 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

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.
Get the best coverage on the San Carlos real estate market delivered right to you!
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