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The San Carlos Real Estate Week in Review: 12-6-15.

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The Scoop.

The first week of December was off like a shot, with seven new single-family home listings to hit the market in San Carlos. This brought the inventory of homes for sale back up to 10, which is still not a whole lot to choose from, but certainly better than last week. Home buyers weren’t that busy last week simply because there was so little to choose from, and consequently only one home was put into contract.

Prices on homes that closed escrow last week were much closer to their original asking price, fetching only an average of 3% over. In fact, half of the homes that sold last week didn’t even achieve their asking price, which is yet another indication that the market is simply not quite as hot as it was in the spring.

Here’s the recap from last week:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 12-6-2015:

San Carlos Housing Data 12-6-15 Prior Week
Closed Sales for the Week: 4 2
Average Sold Price: $1,603,250 $1,455,000
Average $/Sq Foot (Sold) $876 $1,124
Average Sold as Percentage Of List Price: 103% 120%
Average DOM of Closed Sales 13 7
No. of Homes Pending Sale: 18 21
No. of New Listings: 7 0
Total # of Active Listings: 10 6
Average Price of Active Listings: $1,563,600 $1,730,667
Average DOM of Active Listings: 23 54
Average $/Sq Foot (List) $773 $853
Active-Pending Ratio: 0.56 : 1 0.29 : 1

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The San Carlos Real Estate Week in Review: 11-29-15.

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The Scoop.

Thanksgiving week is now over, and we are heading into the final month of 2015. It was predictably slow last week due to the holiday, and the numbers reflect that below. For the second straight week there were no new listings to hit the market in San Carlos, so the inventory of single-family homes for sale has now dropped to six, easily one of the lowest levels of the year for either. And with an average DOM of 54 days, these homes aren’t exactly fresh on the market, either. The townhouse and condo market isn’t faring much better, a there’s only a single unit on the market in the entire city.

Inventory levels should stay fairly low for the duration of 2015. Traditionally, most home sellers will not opt to test the market in December unless they absolutely need to sell. They will wait to list until early January after the completion of the holidays when home buyers are fully focused again on finding a home. We’ll know for certain very soon whether that trend will hold true for this year too, but I don’t expect a huge deviation from what you see right now.

Here’s the recap from last week:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 11-29-2015:

San Carlos Housing Data 11-29-15 Prior Week
Closed Sales for the Week: 2 5
Average Sold Price: $1,455,000 $1,654,600
Average $/Sq Foot (Sold) $1,124 $736
Average Sold as Percentage Of List Price: 120% 116%
Average DOM of Closed Sales 7 12
No. of Homes Pending Sale: 21 20
No. of New Listings: 0 0
Total # of Active Listings: 6 9
Average Price of Active Listings: $1,730,667 $1,540,333
Average DOM of Active Listings: 54 36
Average $/Sq Foot (List) $853 $909
Active-Pending Ratio: 0.29 : 1 0.45 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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: 11-22-15.

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The Scoop.

It’s easy to tell that we are sliding into the holiday season, because the activity level dropped of significantly in just one week. There was not a single new single family residence listing nor a new condo or townhouse new listing in all of San Carlos. That hasn’t happened in many weeks, but it’s not that uncommon to see as we approach the Thanksgiving holiday. In fact, some home sellers will opt to pull their home off the market this week to allow them to enjoy the holiday season without having to keep their home in “show” condition 24/7.

The inventory numbers certainly reflect this pull-back. As of this morning, there are only 9 single-family homes and 4 townhouse/condos for sale in the entire city. And that number will drop again before it increases, since a few of these listings are expecting offers this week. If nothing else, that gives weary home buyers a chance to take a break and enjoy the holiday week.  On that note, Happy Thanksgiving to everyone, and may you have a safe and enjoyable weekend!

Here’s the recap from last week:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 11-22-2015:

San Carlos Housing Data 11-22-15 Prior Week
Closed Sales for the Week: 5 6
Average Sold Price: $1,654,600 $1,932,083
Average $/Sq Foot (Sold) $736 $883
Average Sold as Percentage Of List Price: 116% 112%
Average DOM of Closed Sales 12 14
No. of Homes Pending Sale: 20 20
No. of New Listings: 0 6
Total # of Active Listings: 9 14
Average Price of Active Listings: $1,540,333 $1,566,706
Average DOM of Active Listings: 36 24
Average $/Sq Foot (List) $909 $900
Active-Pending Ratio: 0.45 : 1 0.70 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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: 11-15-15.

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The Scoop.

The real estate activity in San Carlos last week was about as brisk as the weather. Not surprisingly, there were six new listings to enter the market, which puts them in a perfect position to have one or two open house weekends and still get into contract before the Thanksgiving holiday.

Any hopes of home prices starting to soften will probably be dashed when you take a glance at the numbers below.  There was a $3M and a $2M closing in the very same week – and we’re in November, which is usually one of the slower months. But the six new listings bumped the inventory up to 14 total homes for sale, and there’s something to see in just about every price range. It will be interesting to see how many more sellers test the market early this week before we get too close to the Thanksgiving break.

Here’s the recap from last week:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 11-15-2015:

San Carlos Housing Data 11-15-15 Prior Week
Closed Sales for the Week: 6 3
Average Sold Price: $1,932,083 $1,444,333
Average $/Sq Foot (Sold) $883 $869
Average Sold as Percentage Of List Price: 112% 109%
Average DOM of Closed Sales 14 13
No. of Homes Pending Sale: 20 23
No. of New Listings: 6 3
Total # of Active Listings: 14 11
Average Price of Active Listings: $1,566,706 $1,910,616
Average DOM of Active Listings: 24 28
Average $/Sq Foot (List) $900 $897
Active-Pending Ratio: 0.70 : 1 0.48 : 1

>>> Click Here to Read the Full Post
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Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
Don’t miss a single update!
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The San Carlos Real Estate Week in Review: 11-8-15.

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The Scoop.

The rain seems to have returned to San Carlos (a very good thing), but that has not seemed to put a damper on the Fall real estate market. 5 new listings tested the market last week, obviously trying to get into contract before the Thanksgiving break in about 2.5 weeks. The 5 homes that went into contract kept the inventory at 11, which is exactly where we were at this time last week.

Pricing continues be strong in this market, even as we head into the end of the year.  Several of those 5 homes that went pending last week got prices significantly higher than their respective list prices, so while the market may have backed off a tad from the white-hot pace of the Spring, it’s clear that it has not leveled off to the degree that we are seeing in some other communities. Buyers are definitely still paying significant premiums for the right homes.

Here’s the recap from last week:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 11-8-2015:

San Carlos Housing Data 11-8-15 Prior Week
Closed Sales for the Week: 3 7
Average Sold Price: $1,444,333 $1,472,173
Average $/Sq Foot (Sold) $869 $812
Average Sold as Percentage Of List Price: 109% 104%
Average DOM of Closed Sales 13 15
No. of Homes Pending Sale: 23 21
No. of New Listings: 3 2
Total # of Active Listings: 11 11
Average Price of Active Listings: $1,910,616 $2,147,616
Average DOM of Active Listings: 28 28
Average $/Sq Foot (List) $897 $897
Active-Pending Ratio: 0.48 : 1 0.52 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
Don’t miss a single update!
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The San Carlos Real Estate Week in Review: 11-1-15.

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The Scoop.

October 2015 is now in our rear view mirror, and November is upon us. We awaken today to much shorter days, and the first serious rainfall in the past 9 months. This is the time of year when not only the weather sees some serious changes, but so does the local real estate market.

The pace of new listings slowed to a trickle this past week, with only two homes testing the market. With four homes going into contract during the same period, that effectively dropped the inventory of homes for sale back to 11 total in all of San Carlos. The data below is interesting on these 11 homes: The average sales price is over $2M, and the corresponding DOM is now up to 28 days. Contrast that with the four homes that went into contract last week, which had an average list price of $1.34M and 21 days on the market.

If you can draw any conclusions from just one week’s data and a relatively small sample size, it’s this — it’s taking slightly longer in general for homes to sell in San Carlos, and there’s a noticeable push-back on the higher end of the market right now. More on that later this week.

Here’s the recap from last week:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 11-1-2015:

San Carlos Housing Data 11-1-15 Prior Week
Closed Sales for the Week: 7 4
Average Sold Price: $1,472,173 $2,547,375
Average $/Sq Foot (Sold) $812 $968
Average Sold as Percentage Of List Price: 104% 120%
Average DOM of Closed Sales 15 41
No. of Homes Pending Sale: 21 24
No. of New Listings: 2 4
Total # of Active Listings: 11 13
Average Price of Active Listings: $2,147,616 $1,985,376
Average DOM of Active Listings: 28 24
Average $/Sq Foot (List) $897 $876
Active-Pending Ratio: 0.52 : 1 0.54 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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: 10-25-15.

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The Scoop.

You may have been wondering how much a 10,500 square foot flat lot in prime, central San Carlos would set you back. Well, this week you finally got your answer: $1,655,500 — which is the price that 1348 Cedar Street fetched after being purchased through the probate court system. This may sound like a shocking amount of money for what is basically dirt value, since the home that’s on the property now is essentially a tear-down. But oddly enough, this price didn’t surprise me nor any of my other colleagues who are also experts in the San Carlos real estate market. When this property first hit the market, I polled a few of them about how high this property could go and I got numbers anywhere from $1.6M to $1.75M. So it landed right about where we expected, which just goes to show you how quickly one can get desensitized to the prices that are being tossed around in this market. It’s an amazing piece of property in a great location, and I can’t wait to see what will become of it.

For the rest of the San Carlos market, it was a fairly lackluster week.  The upside of over $800,000 on the list price of 1348 Cedar served to put rest of the market positive territory in what would have otherwise been a negative performing week for closed sales – none of the other three homes that closed escrow this past week exceeded their original asking price, which is a first in quite some time.

Inventory didn’t change much, with only 4 new homes being offered for sale. That increase was offset by  the same amount of homes going into contract.

Here’s the recap from last week:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 10-25-2015:

San Carlos Housing Data 10-25-15 Prior Week
Closed Sales for the Week: 4 2
Average Sold Price: $2,547,375 $2,240,00
Average $/Sq Foot (Sold) $968 $646
Average Sold as Percentage Of List Price: 120% 107%
Average DOM of Closed Sales 41 12
No. of Homes Pending Sale: 24 24
No. of New Listings: 4 4
Total # of Active Listings: 13 14
Average Price of Active Listings: $1,985,376 $1,815,982
Average DOM of Active Listings: 24 24
Average $/Sq Foot (List) $876 $834
Active-Pending Ratio: 0.54 : 1 0.58 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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: 10-18-15.

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The Scoop.

Buyers were certainly busier than sellers last week in the San Carlos real estate market. Seven single-family homes were purchased last week, while only four new listings hit the market. That effectively dropped the inventory of homes for sale back down to 14 as we start the new week.

You’ve probably noticed that it’s getting darker quite a bit earlier each night. This makes it increasingly difficult to view properties after work hours during the week. This will be especially noticeable when Daylight Savings ends at the end of this month. That means seeing the home during daylight hours will be more of a challenge for many working couples. It also becomes a legitimate reason for sellers to leave their home on the market for slightly longer to allow those necessary extra showings.

It’s just one of many things that makes the Fall real estate market just a bit different from other times in the year.

Here’s the recap from last week:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 10-18-2015:

San Carlos Housing Data 10-18-15 Prior Week
Closed Sales for the Week: 2 6
Average Sold Price: $2,240,00 $1,847,833
Average $/Sq Foot (Sold) $646 $1,089
Average Sold as Percentage Of List Price: 107% 121%
Average DOM of Closed Sales 12 13
No. of Homes Pending Sale: 24 19
No. of New Listings: 4 7
Total # of Active Listings: 14 16
Average Price of Active Listings: $1,815,982 $1,870,417
Average DOM of Active Listings: 24 16
Average $/Sq Foot (List) $834 $781
Active-Pending Ratio: 0.58 : 1 0.71 : 1

>>> Click Here to Read the Full Post
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Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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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