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The San Carlos Real Estate Week in Review: 6-21-15.

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The June Swoon that we have been experiencing since the beginning of this month continued in earnest last week. Only 3 homes were put into contract, and one of them had been on and off the market for over two months. Granted, there still isn’t a huge inventory being built up while buyers decide what they want to do — only 4 new listings tested the market last week which only offset what went into contract — but there are still some very nice homes on the market that some smart buyers are going snatch up.

For home buyers, this is just about the exact scenario that you’ve been waiting for all year — less buying pressure, and less competition. Once we get a reasonable bump in inventory, your persistence may pay off for you as we head into the summer months.

Here are the details from last week:

By the Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the week ending 6-21-2015:

San Carlos Housing Data 6-21-15 Prior Week
Closed Sales for the Week: 7 5
Average Sold Price: $1,257,857 $1,736,300
Average $/Sq Foot (Sold) $783 $826
Average Sold as Percentage Of List Price: 118% 110%
Average DOM of Closed Sales 17 13
No. of Homes Pending Sale: 20 24
No. of New Listings: 4 5
Total # of Active Listings: 11 9
Average Price of Active Listings: $1,846,727 $1,895,556
Average DOM of Active Listings: 16 20
Average $/Sq Foot (List) $711 $757
Active-Pending Ratio: 0.55 : 1 0.38 : 1

>>> Click Here to Read the Full Post
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The San Carlos Real Estate Week in Review: 6-14-15.

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One of the changes that is common to see around this time of year is that the number offers that each property fetches tends to drop from what you might see in the peak months of March-May.  This makes sense, because when the calendar hits June, many buyers hit the road. And if it’s not vacation that’s beckoning, it’s the multitude of graduations and weddings that are pulling at everyone’s time.

It’s important to note this, because what is not happening right now with this decrease in offers is a decrease in purchase prices. Quite the contrary – although the homes that went pending over the past two weeks fetched fewer offers, there was definitely no signs of weakness in the prices that these homes fetched, as you will see when the sales prices are posted on the blog in the coming weeks.

It’s important for buyers to not get lulled into a sense of complacency if they are only up against 1-2 other offers on a particular property, because it’s clear from the market performance that a decrease in the number of offers is not causing a decrease in the final price.

Here are the details from last week:

By the Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the week ending 6-14-2015:

San Carlos Housing Data 6-14-15 Prior Week
Closed Sales for the Week: 5 3
Average Sold Price: $1,736,300 $1,551,933
Average $/Sq Foot (Sold) $826 $909
Average Sold as Percentage Of List Price: 110% 106%
Average DOM of Closed Sales 13 9
No. of Homes Pending Sale: 24 22
No. of New Listings: 5 6
Total # of Active Listings: 9 11
Average Price of Active Listings: $1,895,556 $1,962,364
Average DOM of Active Listings: 20 20
Average $/Sq Foot (List) $757 $770
Active-Pending Ratio: 0.38 : 1 0.50 : 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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New San Carlos Listing: 1985 Saint Francis Way.

The Very Best of White Oaks.

I am thrilled to announce my latest San Carlos listing at 1985 Saint Francis Way! This stately 2,416 square foot White Oaks home not only has that elusive 4th bedroom that is so difficult to find in the flats of San Carlos, but it also the other sought-after rooms that buyers really expect in a home this size: A formal dining room, separate spacious living room, a family room, and a kitchen nook that is adjacent to the kitchen. This home checks all of those boxes and more.

This home features a very intelligent and functional floor plan, with 3 of bedrooms and 2 of the bathrooms on the upper level, and a full bedroom and bathroom on the ground level.  This makes it the perfect setup for an extended visit from a guest, or as a home office.  The spacious open kitchen features granite counters, stainless steel appliances, and a brand a new tile floor and backsplash. Adjacent to the kitchen is a wide-open area that can serve a variety of functions, such as a breakfast nook.

Situated on a beautiful 5,500 square foot flat lot, there is ample room for all of your outdoor activities.  The large, 2-car garage is detached and located at the rear of the property.  The curb appeal of this neighborhood is absolutely fabulous, and you’re close to everywhere you want to be in San Carlos.

Here are a few photos of this magnificent home:

–> For the full gallery of all of the photos, click here.

3D Virtual Tour.

As I do with all of my listings, there is a state-of-the-art 3D scan of the home that allows you to take a virtual “walk” through any room in the home, and also gives you a birds-eye view of the layout of the home. Be sure to click on the window below and take this marvelous tool for a spin:

–> You can also view the 3D Virtual Tour in a separate window by clicking here.

Open House

This fantastic home is listed at $1,848,000. It’s not very often that a beautiful 4-bedroom home like this pops up in White Oaks, so don’t miss the opportunity to see it!  It will be open this Saturday and Sunday (6/13-14) from 1:00-4:00 on both days.
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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: 6-7-15.

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The activity level seemed to tick downward a bit this past week in San Carlos, perhaps because of all of the graduations, or maybe everyone is getting ready to get out of Dodge for a few weeks. There were only two homes to go into contract, and six new listings made their entry onto the market which pushed the number of homes for sale to 11 as of this morning.

From what I can gather as I talk to title reps and property inspectors — people who generally are involved early in the sales process — there is still a pretty healthy pipeline of new listings that will be hitting the market before summer sets in, both in San Carlos as well as up and down the Peninsula. Buyers should definitely stay tuned into the market over the next several weeks.

I will have one nice listing coming up in White Oaks later this week, so keep tuned into the site for more detail!

Here are the details from last week:

By the Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the week ending 6-7-2015:

San Carlos Housing Data 6-7-15 Prior Week
Closed Sales for the Week: 3 9
Average Sold Price: $1,551,933 $1,594,944
Average $/Sq Foot (Sold) $909 $1,063
Average Sold as Percentage Of List Price: 106% 116%
Average DOM of Closed Sales 9 8
No. of Homes Pending Sale: 22 23
No. of New Listings: 6 2
Total # of Active Listings: 11 7
Average Price of Active Listings: $1,962,364 $2,342,143
Average DOM of Active Listings: 20 25
Average $/Sq Foot (List) $770 $709
Active-Pending Ratio: 0.50 : 1 0.30 : 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: 5-31-15.

June

Don’t look now, but May is gone and June is now here. It’s hard to believe the year is flying by so quickly, but perhaps the lack of key changes in our environment (rain, inventory, etc..) makes every week feel the same. But at a time of the year where we would expect to see a peak in the inventory of homes for sale, we are seeing the exact opposite in San Carlos. As of this morning’s post, there are only 7 single family homes on the market in the entire city.

That number will take a slight bump upward later this morning when a couple of nice new 3BR listings on Greenwood Avenue and Chestnut Street hit the market. And the fact that several property inspectors that I spoke with are booked solid for at least two weeks tells me that there will be a late Spring push before the market takes its normal summer snooze. I know there’s always a certain amount of “buyer fatigue” this time of year from watching prices escalate continuously, and from losing out on multiple bids. But there is also a ton of events around this time of year — graduations and vacations — that compete with the mind share of home buyers, and those buyers who stay on task and move quickly can often can take advantage of these distractions to their benefit.

In the stats below, take a close look at the insane performance of the 9 homes that closed escrow this past week. The average price per square foot of all nine homes was a whopping $1,063/sq foot. And largely because three of these homes sold off market, the average days on market for all nine homes was only 8 days. That‘s a hot market.

Here are the details from last week:

By the Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the week ending 5-31-2015:

San Carlos Housing Data 5-31-15 Prior Week
Closed Sales for the Week: 9 6
Average Sold Price: $1,594,944 $1,730,833
Average $/Sq Foot (Sold) $1,063 $791
Average Sold as Percentage Of List Price: 116% 110%
Average DOM of Closed Sales 8 14
No. of Homes Pending Sale: 23 26
No. of New Listings: 2 2
Total # of Active Listings: 7 10
Average Price of Active Listings: $2,342,143 $2,102,295
Average DOM of Active Listings: 25 18
Average $/Sq Foot (List) $709 $784
Active-Pending Ratio: 0.30 : 1 0.38 : 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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New San Carlos Listing: 1393 Cedar Street

1393 Cedar Street, San Carlos

Location, Location, Location!

I am pleased to announce my latest San Carlos listing at 1393 Cedar Street! This immaculate 2,180 square foot home is packed with all of the key features that today’s San Carlos home buyer is looking for. It has a formal dining room, separate spacious living room, and a family room that is adjacent to the kitchen. But one of the best features about this home is the additional bonus room that works perfectly as a home office, or could even pinch-hit as a guest bedroom.

The home is situated on a beautifully landscaped 6,600 square foot lot with ample room all around the home for outdoor living. It’s one of the few homes that you’ll see in the flats of San Carlos that actually has spacious side yards, rather than being 3 feet from your neighbor’s house.

For those buyers looking for the perfect location in the flats of San Carlos, it doesn’t get much better than this. This home is about as centrally located as you can get in San Carlos — for families with school age kids, it’s just a few blocks to either White Oaks Elementary School or Central Middle School, and it’s only two blocks to Burton Park. It’s close to everywhere you want to be in San Carlos.

This home is in absolutely pristine condition, and truly reflects the pride of the long time-owners. Both bathrooms have just been completely updated and look absolutely spectacular.

Here are a few photos of this magnificent home:

 

master-bedroom1a

For the full gallery of photos, click here.

3D Virtual Tour.

As I do with all of my listings, there is a state-of-the-art 3D scan of the home that allows you to take a virtual “walk” through any room in the home, and also gives you a birds-eye view of the layout of the home. Be sure to click on the window below and take this marvelous tool for a spin:

You can also view the 3D Virtual Tour in a separate window by clicking here.

Open House

This fantastic home is listed at $1,798,000. Come by and see it this weekend on either Saturday or Sunday from 1:00-4:00 PM. But don’t wait too long — this one won’t be around forever!
_____________________________________________________________________________

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: 5-24-15.

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Perhaps it was the week before Memorial Day Weekend that caused some sellers to delay listing their home for sale, or maybe there just aren’t going to be that many homes on the market in the coming weeks. But whatever the reason, there were only two new single-family listings to hit the market in all of San Carlos last week. That, combined with the 5 homes that went into contract during the same period, dropped the inventory of homes for sale back down to 10. And that number will drop to 9 as soon as one of the homes that went into contract over the weekend registers it as “pending” on the MLS. That means we will be heading into the home stretch of the Spring real estate market with single-digit inventory — great for sellers, not so much so for buyers.

Last week we mentioned it would only be a matter of time before the average price hits $2M in the City of Good Living. This week, it actually happened. As you can see from the table below, the average price for all homes currently for sale in San Carlos topped the $2,000,000 mark. But just like a Barry Bonds home run, this stat deserves an asterisk, since there is a single $5M listing that pulls the average up quite a bit. Without that listing, the average drops well below the $2M mark. But even that is a remarkable number for a city that was only averaging $1M a few years ago.

Here are the details from last week:

By the Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the week ending 5-24-2015:

San Carlos Housing Data 5-24-15 Prior Week
Closed Sales for the Week: 6 7
Average Sold Price: $1,730,833 $1,723,286
Average $/Sq Foot (Sold) $791 $900
Average Sold as Percentage Of List Price: 110% 113%
Average DOM of Closed Sales 14 16
No. of Homes Pending Sale: 26 26
No. of New Listings: 2 6
Total # of Active Listings: 10 14
Average Price of Active Listings: $2,102,295 $1,968,357
Average DOM of Active Listings: 118 12
Average $/Sq Foot (List) $784 $750
Active-Pending Ratio: 0.38 : 1 0.54 : 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: 5-17-15.

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The statistics in the San Carlos real estate market are eerily similar this week to where they were last week at this time. The number of new listings was exactly offset by the number of homes that went into contract, thus keeping the number of homes for sale in the city unchanged at 14, which is still an incredibly low number for what is generally the peak period in the Spring real estate market.

Prices on closed home sales remained strong and incredibly resilient, with the average home sale in San Carlos last week hitting a whopping $1.7M. It wasn’t too many years ago that I was commenting on this site about the significance of breaking the magic $1M barrier. Now, it seems like only a matter of time before the average price hits $2M in the City of Good Living.

Here are the details from last week:

By the Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the week ending 5-17-2015:

San Carlos Housing Data 5-17-15 Prior Week
Closed Sales for the Week: 7 2
Average Sold Price: $1,723,286 $1,757,500
Average $/Sq Foot (Sold) $900 $1,315
Average Sold as Percentage Of List Price: 113% 125%
Average DOM of Closed Sales 16 10
No. of Homes Pending Sale: 26 27
No. of New Listings: 6 9
Total # of Active Listings: 14 14
Average Price of Active Listings: $1,968,357 $1,661,639
Average DOM of Active Listings: 12 9
Average $/Sq Foot (List) $750 $717
Active-Pending Ratio: 0.54 : 1 0.52 : 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.
Get the best coverage on the San Carlos real estate market delivered right to you!
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