As we head toward the end of what has been one of the most remarkable years in local real estate in recent memory, those who are still in the market — either buyers still looking to buy, or sellers thinking about listing — are looking at the calendar and asking the same question:
What’s going to happen the San Carlos real estate market in 2014?
Anytime a market experiences such a dramatic inflection like we experienced in 2013, it significantly changes the dynamics of how the entire market behaves going forward, and that’s very much going to be the case in the new year. So what will happen in 2014? Will the price of a home in San Carlos continue to rise at a seemingly unstoppable rate, or will prices stabilize? Will there be more listings than last year or less?
Over the next few days on the White Oaks Blog, we will tackle those questions in a 3-part series that will discuss three key factors that may significantly change the real estate landscape in San Carlos in 2014.
First up: Listings.
#1. There Will Be More Listings in 2014.
Contrary to what the paltry inventory of homes for sale in San Carlos seems to indicate, 2013 has been almost identical to 2012 with regard to the number of new listings of single-family homes. In fact, once the December numbers are factored into the graph below, 2013 will slightly edge 2012 for the number of homes to hit the market. The misconception stems from that fact that it took only half as long to sell the average house in 2013 (18 days) than it did in 2012 (35 days), so there was never the ability to establish any level of inventory. This made it seem like there was a big decrease in listings from 2012, when in reality there wasn’t at all. >>> Click Here to Read the Full Post
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