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New San Carlos Listing: 2904 Brittan Avenue

2904 Brittan Avenue, San Carlos

Fabulous Beverly Terrace Home.

I am pleased to announce my latest San Carlos listing at 2904 Brittan Avenue! This terrific 2,120 square foot ranch-style home checks many of the boxes on the priority list for today’s San Carlos home buyer.  First and foremost, this home has that elusive 4th bedroom that so many home buyers are holding out for. It features a perfectly functional layout, with all four bedrooms located in same part of the home, and a spacious living room and family room area that’s ideal for entertaining.   The private master suite in the rear of the home is the perfect retreat at the end of the day.

Natural light flows through the updated kitchen, with a sparkling see-through china cabinet that adorns the gleaming quartz counter tops. The dining area adjoins the kitchen, and is equally adept at formal or informal dining.

The home is situated on a big ~9,394 square foot lot with plenty of room in both the front and the back for outdoor living.  There’s an enormous courtyard in the front that’s completely fenced in for privacy, and wonderfully landscaped back yard with a lawn and patio on the main level, and beautifully terraced hillside at the rear.

Here are a few photos of this magnificent home:

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master-bedroom

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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:

 

Open House

This fantastic home is listed at $1,548,000 — an outstanding value considering that smaller 3-bedroom homes in San Carlos are routinely selling for $1,700,000 (or higher).   Come by and see it this weekend on either Saturday or Sunday from 1:00-4:00 PM.
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The San Carlos Real Estate Week in Review: 5-10-15.

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Last week was one of the more brisk weeks that we have seen in the San Carlos real estate scene so far this year. Nine new homes hit the market, only to be offset by nine other homes going into contract. That’s more inventory turnover than we have seen in a number of weeks.  The net result is that we still only have a little over a dozen single-family homes for sale in the entire city of San Carlos. But it speaks volumes to the fact that buyers are still out in droves as hit the latter half of the Spring real estate market in San Carlos.

The other noteworthy activity this past week was the sale of 2130 Greenwood Avenue at $2,015,000. This sale is a testament to the demand for a large, flat lot in a good neighborhood in San Carlos. The value of the lot has a much bigger influence in the sales price in situations like these where you have a relatively small house on an abnormally large lot. That’s why you should not be too alarmed to see a figure of $1,527/sq foot for this house, although it was very much the talk of the town for a few days. The lot value simply overshadows everything else in these kinds of sales.

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 5-10-2015:

San Carlos Housing Data 5-10-15 Prior Week
Closed Sales for the Week: 2 4
Average Sold Price: $1,757,500 $1,523,750
Average $/Sq Foot (Sold) $1,315 $882
Average Sold as Percentage Of List Price: 125% 120%
Average DOM of Closed Sales 10 11
No. of Homes Pending Sale: 27 20
No. of New Listings: 9 5
Total # of Active Listings: 14 13
Average Price of Active Listings: $1,661,639 $1,786,073
Average DOM of Active Listings: 9 17
Average $/Sq Foot (List) $717 $770
Active-Pending Ratio: 0.52 : 1 0.65 : 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: 5-3-15.

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Much has been discussed on this site about the rocket-like trajectory of 3-bedroom home prices in San Carlos, since the 3-bedroom house makes up the majority of the housing stock in the city. But not to be overlooked is the pricing on 2-bedroom homes.  It wasn’t too long ago that you could get a 2-bedroom home for under $1,000,000 on the west side of San Carlos.  It’s pretty safe to assume that those days are long past us, as we witnessed 100 Garnet Avenue close this past week for $1,410,000 making it the 11th most expensive 2BR home to sell in San Carlos in the past 15 years.  There are other 2-bedroom homes that are currently pending sale that will close well above the $1M mark as well.

Even the smallest of homes in the Greater East Side of San Carlos will be topping the $1M mark with regularity as prices continue to rise in San Carlos and all along the Peninsula.  It doesn’t seem that far away that a 7-figure price will become the entry point for any single-family home in San Carlos. Even the dirt value of flat ~5,000 square foot flat lot on west side will easily top $1M.

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 5-3-2015:

San Carlos Housing Data 5-3-15 Prior Week
Closed Sales for the Week: 4 7
Average Sold Price: $1,523,750 $1,469,143
Average $/Sq Foot (Sold) $882 $847
Average Sold as Percentage Of List Price: 120% 114%
Average DOM of Closed Sales 11 13
No. of Homes Pending Sale: 20 17
No. of New Listings: 5 6
Total # of Active Listings: 13 15
Average Price of Active Listings: $1,786,073 $1,666,067
Average DOM of Active Listings: 17 18
Average $/Sq Foot (List) $770 $772
Active-Pending Ratio: 0.65 : 1 0.88 : 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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The San Carlos Real Estate Week in Review: 4-26-15.

Very little changed in the overall inventory situation in San Carlos last week.  There were seven new listings to test the market, another six listings went into pending status during that period, and one was withdrawn.  So the net effect is that we are at exactly the same number of homes for sale (15) that we were at this point last week.  It’s difficult to build any significant inventory when homes are getting absorbed as fast as they are being listed.

There were some pretty strong closings last week, with both 135 Leslie Drive and 1534 White Oak Way  topping the $2,000,000 mark.  There have already been over 10 homes so far this year that have passed that threshold in San Carlos, so it appears that buyers are pretty comfortable with that price in San Carlos.

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 4-26-2015:

San Carlos Housing Data 4-26-15 Prior Week
Closed Sales for the Week: 7 3
Average Sold Price: $1,469,143 $1,392,667
Average $/Sq Foot (Sold) $847 $863
Average Sold as Percentage Of List Price: 114% 116%
Average DOM of Closed Sales 13 10
No. of Homes Pending Sale: 17 19
No. of New Listings: 6 5
Total # of Active Listings: 15 15
Average Price of Active Listings: $1,666,067 $1,708,467
Average DOM of Active Listings: 18 17
Average $/Sq Foot (List) $772 $808
Active-Pending Ratio: 0.88 : 1 0.79 : 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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House Prices Surge in Alder Manor.

Arrow Upward

No Longer a Neighborhood Divided.

The fact that home prices are surging anywhere in San Carlos is hardly newsworthy these days. Unless you’re new to the area, or completely oblivious to local real estate market, you’ve seen house prices absolutely skyrocket throughout San Carlos over the past 3 years.

For those of you not familiar with the Alder Manor neighborhood of San Carlos, it is the section that lies west of the Alameda up until Brittan Avenue (see the map below.)  Since this part of San Carlos was developed much later than the flats of White Oaks, Oak Park, and Howard Park, the homes in Alder Manor are generally newer, larger, and are situation on larger lots than the typical 5,000-6,000 square foot lot that you’re accustomed to in the flats.  In fact, some of the largest and most prestigious properties in all of San Carlos exist in Alder Manor, and some of the most picturesque streets in the city are right here in this neighborhood (Graceland, Eaton Villa, Timothy, etc..)

 

But Alder Manor also has the distinction of being the neighborhood in San Carlos that is zoned for the Redwood City School District. (This is widely misunderstood, since the upper part of Alder Manor — La Mesa Drive, Crestview Drive south of Brittan, etc — still resides within the San Carlos School District.) This means that many home buyers who have decided that they absolutely must live within the San Carlos School District boundary have traditionally steered clear of this area, which has somewhat limited the buyer pool in the past.

The latest surge in home prices has not left this neighborhood behind — in fact, the average home price in Alder Manor has jumped a whopping 51% since 2011, which is exactly on pace with the overall average gains in San Carlos:

SC Alder Manor Average Sales

The average sales price of $1,525,183 achieved in 2014 in Alder Manor was actually slightly higher than the city-wide average price of $1,460,478 in the same year, so this area is clearly home to some of the more nicer and more expensive homes in San Carlos (more on that below).

Redwood City District – Impact on Prices?

One of the big questions with the data above is how much the Redwood City School District factor weighs on the housing prices. In the chart below, I took the same data above by and split it by school district.

SC Alder Manor Average Sales By Schools

What this chart shows is that historically, the average price of homes in the Redwood City School District portion of Alder Manor have grown at the same rate as the rest of San Carlos; roughly ~50% since 2011. It also shows that in the past that average prices have lagged in varying degrees behind the Alder Manor homes that reside in the San Carlos School District.

But it also shows that so far in 2015, prices are continuing to surge for homes in the Redwood City School District, exceeding the average of the other homes in Alder Manor. And speaking of home prices, of all of the homes that have sold above $2,000,000 in San Carlos so far in 2015, a full 25% of these were in the Redwood City School District boundary of Alder Manor.

So clearly, any concern about school districts is weighing less on the minds of home buyers in this neighborhood, and they are clearly more willing to shell out top dollar now to get a larger home and larger lot in one of the most picturesque parts of the city.  This effect is being mirrored in other parts of Redwood City, where home prices in the Mount Carmel and Woodside Plaza neighborhoods are absolutely scorching right now, sometimes even rivaling prices that we are seeing in San Carlos.
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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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First Quarter Listings in San Carlos Drop to Lowest Level in a Decade.

Dry Lake

A Listing Drought.

It seems like the only thing dropping faster than the water levels in San Carlos these days is the inventory of single-family homes for sale. I have been keeping close track of the rate of new listings in San Carlos this year to see if our chronically low level of inventory is just caused by homes selling quickly, or by a lack of new listings — or both.

The chart below is an iteration of the one that I have been posting on the site over the past few months — it shows the number of new single-family listings that hit the market in San Carlos during a particular period of time. The version below captures the data from the first quarter of each year for the past 8 years.

And although it’s not in the chart, I did indeed research the same data for 2006 and 2007, and I can safely assure you that Q1 of 2015 will go down in the record books as the lowest number of new listings in the first quarter of any year for the past decade.  That can’t be terribly encouraging to home buyers.

Q1 New Listings

Single-Family Home Listings in San Carlos in Q1

 

You may recall that we started off this year like we were shot out of a cannon.  January jumped well ahead of the pace of previous years, which gave hope that this would be the year that we would break out the listing doldrums that we have been in since 2013. But much to the chagrin of home buyers, that pipeline of listings has slowed to a trickle –  not too unlike our water supply in California.

One key reason why there are fewer listings in this ultra-competitive market is that the “transitional” seller has been all but frozen in place – these are the people who would traditionally move within the community, either upsizing to larger house, or downsizing to a smaller one. Because the market so fiercely competitive for buyers, many homeowners are choosing to stay put for fear of selling their home and having nowhere to move to.  So we lose a significant chunk of listings that we used to see when the market was a little less frenzied.

And on top of all that, it sure seems like nobody is in a hurry to leave San Carlos.
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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: 4-19-15.

Calendar

The final week of Spring break is underway, with the Sequoia Union High School District taking this week off.  That should be the last major distraction to the market as we head through the Spring buying season. This year it seemed like there were at least 3 different weeks when the the local schools, private schools, and colleges took their Spring break.  It’s pretty hard to plan a vacation when everyone is on different schedules.

Regardless, that did not seem to temper the enthusiasm in the San Carlos real estate market. The five new listings that hit the market were outnumbered by the seven homes that were put into contract, thus dropping our inventory of homes for sale back down to 15, which is simply a ridiculously low number for this time of year. I am still counting on a significant bump in the number of new listings in the coming weeks, as sellers race to get their homes on the market before the summer break.  I will have two more San Carlos listings hitting the market during that period — stay tuned to the site in the coming weeks for more details.

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 4-19-2015:

San Carlos Housing Data 4-19-15 Prior Week
Closed Sales for the Week: 3 5
Average Sold Price: $1,392,667 $1,666,000
Average $/Sq Foot (Sold) $863 $749
Average Sold as Percentage Of List Price: 116% 116%
Average DOM of Closed Sales 10 85
No. of Homes Pending Sale: 19 15
No. of New Listings: 5 9
Total # of Active Listings: 15 16
Average Price of Active Listings: $1,708,467 $1,671,804
Average DOM of Active Listings: 17 13
Average $/Sq Foot (List) $808 $788
Active-Pending Ratio: 0.79 : 1 1.1: 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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Just Listed: 202 Timothy Drive, San Carlos

202 Timothy Drive, San Carlos

Spectacular Alder Manor Home.

Lately in San Carlos, it has been very difficult to find that rare combination of a spacious 4-bedroom home, and an amazing yard to indulge your outdoor lifestyle. That’s why I’m especially pleased to bring 202 Timothy Drive in San Carlos to market this weekend, because this home is definitely a “10” in both respects.

The core of this fabulous 4-bedroom, 2.5-bath 2,543 square foot home is its perfectly functional floor plan that checks all the boxes for today’s discriminating San Carlos home buyer:  It features separate living, dining, and family rooms, an indoor laundry room, and a convenient mud room/storage area just off the garage.

But truly the centerpiece of this wonderful home is the recently remodeled chef’s kitchen. No detail was left untouched in this professionally-designed masterpiece. From the expansive quartzite counters, to the rich alder wood cabinets, to the heated tile floor, this massive kitchen becomes the focal point of everything that happens in the house — from cooking fabulous meals, to entertaining a large group of friends on a Saturday night, this kitchen is more than up to the task.

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The living area upstairs is equally impressive, with 4 generous-sized bedrooms including the spacious and private master suite, and two full bathrooms. The master bedroom has multiple closets to tackle your wardrobe storage needs.

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The layout of the upstairs is ideal for families with small children, since the bedrooms are all in relatively close proximity, but without sacrificing the privacy that you need a the end of a long day.

Outdoor Living at its Finest.

One of the must-have’s that seems to be at the top of every San Carlos buyer’s checklist is a flat back yard for hosting summer barbecues, or a place for the kids to play without having to run to the park every day.  You simply won’t find many yards that are this spectacular for sale in San Carlos.

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The front yard is meticulously landscaped with a lush lawn and stately, mature Japanese maple trees.  But the back yard is where all the fun happens – there is a spacious deck that leads from the back of the home to the custom, outdoor gas barbecue and the hot tub.  The rest of the back yard is comprised of a huge lawn area that will tackle any party that you can throw at it.

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Want to See More?

For a full gallery of photos of the inside and outside of the home, click here.  As I do with all of my listings, I have employed cutting edge Matterport 3D Modeling for the virtual tour.  To take a virtual “walk” through the house, click on the Matterport Virtual Tour below:

This terrific home will be listed at $1,798,000, and will be open this Saturday and Sunday from 1:30-4:00, and again the following weekend.  Be sure to put this one at the top of your list — you will not be disappointed!
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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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Chuck Gillooley
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