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February Listings in San Carlos Plummet to New Lows .

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A Jumping January.

What started out as such a promising year for home buyers in San Carlos has really fizzled over the past 4 weeks. At the beginning of the year, the market seemed to jump right out of the gates, with a surprisingly robust activity level compared to a typical January.  This bump in activity was spurred on largely by the fact that there were more new listings to hit the market this January than in any January since 2011 — which the first chart below clearly illustrates.  This made home buyers very optimistic that there would be more homes to choose from this year.

In a post that I wrote on this subject back in January, I analyzed the listing data to see if there was some sort of correlation between the number of new listings in January, and how the results ultimately turned out for the entire year.  In a nutshell, the data indeed tracked pretty consistently — a strong January for new listings portended a strong overall year.

Here’s a chart of how the past eight January’s have performed… >>> Click Here to Read the Full Post
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The San Carlos Real Estate Week in Review: 3-8-15.

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That surge of new listings that we were hoping for this past week in San Carlos did not materialize.  There were only 4 new homes to debut on the market, and those were overshadowed by the 6 homes that went into contract.  From what I have heard about some of the prices these homes fetched, it will make last weeks eye-popping prices look pretty tame by comparison.

The net result of this disparity is that there are now only 7 single family homes for sale in San Carlos as we kick off the new week, and a few of these won’t be taking offers until later in the month.  So unless there’s more inventory to hit the market this week, there is not going to be a lot happening this week in our local 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 3-8-2015:

San Carlos Housing Data 3-8-15 Prior Week
Closed Sales for the Week: 5 12
Average Sold Price: $1,564,000 $1,643,167
Average $/Sq Foot (Sold) $881 $865
Average Sold – Percentage Of List Price: 104% 114%
Average DOM of Closed Sales 11 10
No. of Homes Pending Sale: 18 17
No. of Active Listings: 7 10
Average Price of Active Listings: $1,304,714 $1,456,895
Average DOM of Active Listings: 13 10
Average $/Sq Foot (List) $901 $787
Active-Pending Ratio: 0.39 : 1 0.59: 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: 3-1-15.

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Last week was one of those weeks that makes San Carlos home buyers sit back and take a deep breath…or pour a strong drink.

Some of the home sales that closed last week were so far above the asking price, that it must feel like a punch in the gut for buyers trying to land a home in this market. Of the 12 homes that closed escrow, 6 of them fetched $200,000 or more over the asking price.  Two of them landed premiums of $300,000 or more.  That would be less discouraging if one could chalk this performance up to the fact that the homes might have been simply priced too far below their market value.  But with one notable exception below that was ridiculously under-priced, it’s hard to find fault where the other 11 were marketed. It’s simply a stark statement to the strength and resolve of the typical San Carlos home buyer in this market.

Until more inventory arrives, this is what the battlefield in San Carlos is going to look like.

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 3-1-2015:

San Carlos Housing Data 3-1-15 Prior Week
Closed Sales for the Week: 12 5
Average Sold Price: $1,643,167 $1,506,000
Average $/Sq Foot (Sold) $865 $891
Average Sold – Percentage Of List Price: 114% 110%
Average DOM of Closed Sales 10 11
No. of Homes Pending Sale: 17 24
No. of Active Listings: 10 10
Average Price of Active Listings: $1,456,895 $1,388,200
Average DOM of Active Listings: 10 10
Average $/Sq Foot (List) $787 $806
Active-Pending Ratio: 0.59 : 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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New San Carlos Listing: 100 Dundee Lane

Dundee Front

The Bredel & Gillooley team at Dwell Realtors is pleased to announce our latest San Carlos listing at 100 Dundee Lane in the Highlands Park neighborhood. This spectacular 4BR/3BA home features an open floorplan with soaring ceilings, and makes great use of the 2,520 square feet of living space.  A good example of this is the intelligent partitioning of bedrooms that has 3 bedrooms (including the master bedroom) upstairs, and then a spacious bedroom downstairs. This 3/1 partition is ideal for families that have frequent overnight guests, or expect to have a parent live with them for an extended period of time.  It seems like a forgone conclusion that every 4BR house would be built this way, but you’d be surprised how many 4BR homes in San Carlos have 2 bedrooms upstairs and 2 downstairs.

This home also features a spectacular flat back yard, which is another attribute that many home buyer are looking for. But you get spoiled with homes in the Highland Park neighborhood because there’s a huge park within walking distance of any house in this neighborhood, so it’s not a problem if your kids outgrow the back yard. They can just take it down to one of the huge fields.

It’s not very often that houses come up for sale in the Highland Park neighborhood. There have only been 4 home sales in this neighborhood since the beginning of 2012, so there should be significant interest in this home. Below are a few of the pictures of this great home:

Dundee 1

Dundee 2

Dundee 3

Dundee 4

3D Virtual Tour

As we do with all of our listings, there is an extremely cool 3D virtual tour of 100 Dundee with allows you to virtually “walk” through the entire house.  Click on the Matterport logo below to view the virtual tour:

matterport

100 Dundee Lane will be open this weekend from 1-4 on both Saturday and Sunday. Don’t miss your chance to see this spectacular home!
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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: 2-22-15.

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The continued strength of the San Carlos housing market was very evident this past week with some of the closing prices that are posted below.  Two of the homes that closed fetched $250,000 over their asking prices.  On top of that, there was a $1,000,000 sale in the Greater East Side neighborhood, which hasn’t happened that often in the past, but will probably start to happen with more frequency as finding any house in San Carlos for under $1,000,000 is becoming that much more elusive.

There is a sense in the real estate community that this Spring will be a strong season for listings, which will be good for the entire market.  Even though this lopsided market clearly favors the sellers, it’s so far tilted in that direction that it’s actually scaring some buyers out of the market — which is not good for either side. No matter how many listings hit the market this Spring, there will still be far more buyers than there are homes to put them in. But a market with decent inventory is more healthy than what we are slugging through right now.

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 2-22-2015:

San Carlos Housing Data 2-22-15 Prior Week
Closed Sales for the Week: 5 3
Average Sold Price: $1,506,000 $1,593,333
Average $/Sq Foot (Sold) $891 $632
Average Sold – Percentage Of List Price: 110% 113%
Average DOM of Closed Sales 11 55
No. of Homes Pending Sale: 24 23
No. of Active Listings: 10 10
Average Price of Active Listings: $1,388,200 $1,331,500
Average DOM of Active Listings: 10 47
Average $/Sq Foot (List) $806 $753
Active-Pending Ratio: 0.42 : 1 0.43: 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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New Listing: 278 Vine Street, San Carlos

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New Bredel & Gillooley San Carlos Listing.

My partner Bob Bredel has an outstanding listing on the market this weekend at 278 Vine Street in San Carlos.  This is a tastefully updated three bedroom, two bath home in the lower hills of San Carlos.  It features a spacious master suite, remodeled kitchen and bathrooms, hardwood floors and a variety of key maintenance upgrades. The highlight of this property is a park-like backyard with a mature landscape and spacious lawn area – something that is definitely high on the wish list for many home buyers in San Carlos today.

This home is ideally situated just a short distance from downtown San Carlos and key commuter access points.  It will be open on Sunday from 1-4PM.

Here are a couple of pictures of this great home:

278 Vine Street, Kitchen

278 Vine Street, Kitchen

 

278 Vine Street - Back Yard

278 Vine Street – Back Yard

3D Virtual Tour.

For 278 Vine Street, as we do with all of our new listings, we utilize one of the newest and most innovative tools available to give you complete access to the home before you ever step foot in it:  The Matterport 3D Virtual Tour.  The Matterport technology creates a an amazingly immersive 3-dimensional internal image of the home, and allows you to take a “virtual walk” through the entire house, thus giving you a much better feel of the layout and the overall flow.  This technology will complete revolutionize the concept of a virtual tour, and we now offer this for every one of our new listings.

To see the Matterport 3D virtual tour for 278 Vine Street, click on the Matterport Icon below:

matterport
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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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Greater East San Carlos Sees Huge Price Gains.

February 18, 2015 San Carlos Real Estate 1 Comment
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Moving On Up.

Just like that saying “A rising tide lifts all boats”, the recent rising tide of home prices has been extremely beneficial to ALL neighborhoods in San Carlos, not just those typically sought after sectors like White Oaks and Howard Park.  One of neighborhoods that has seen the biggest gains in home prices is the Greater Eastside San Carlos area, also known as Clearfield Park. This has long been one of the most affordable areas in all of San Carlos – a place where, until recently, you could still find a decent 3-bedroom home without breaking the million dollar mark. But as you’ll see in the chart below, prices in this area are climbing at a breathtaking rate, threatening the very affordability that makes this neighborhood so attractive to first time home buyers.

For those not familiar with the Clearfield Park, it’s the residential section that is situated between El Camino Real and Industrial Road. It boasts some very charming homes, tight knit neighbors, and quite often larger lots than what you might find in other areas in the flats of San Carlos. It’s also feeling the squeeze of the rapid urbanization of San Carlos, and is definitely the neighborhood most greatly impacted by the planned Transit Village and Landmark Hotel development projects, as well as the new magnet high school that is targeted for Old County Road.  It’s these rapid changes to their neighborhood that led to the formation of the Greater East San Carlos Neighborhood Association, which gives this small neighborhood a powerful and influential voice in matters that affect their neighborhood. Here’s a general map of the area:

As home prices in San Carlos have skyrocketed out of the range of many buyers, they are looking toward the Greater East Side as their only viable option to land a single-family home in San Carlos for their budget – or resorting to finding a townhouse. What has always been amazing to me is the disparity in home prices between the east side and the rest of San Carlos. After all, they’re in the same great school district, and one of the best kept secrets of this neighborhood is that it is actually closer to downtown San Carlos and mass transit than most other parts of San Carlos. You’re literally a 5 minute walk from all of the great restaurants. But word must finally be getting out, because home prices have been on a rocket ride over the past few years. Take a look at the following chart:

Greater East Side San Carlos Home Prices

Greater East Side San Carlos – Average Home Prices

It was only two short years ago that the average home price in this neighborhood was just below $600,000.  In 2014, that mark hit almost $900,000 — a 17% increase in a single year, and whopping gain of 63% in just two years.  What’s equally amazing is the fact that in 2014, four homes broke the $1M mark in the Greater East Side, with 75 Bayport Court shattering all records with a sales price of $1,376,000. The sample size is not huge in this relatively small neighborhood.  On average, only a dozen or so homes sell here every year, so the numbers are susceptible to being skewed by a large sale.  But there is still a fair distribution of sales in the $800,000-$900,000 range — something that you just didn’t see two years ago.  And you can expect to see more sales this year in the high $900,000 range, and yes, over $1,000,000. For a complete list of home sales over the past 3 years in the Greater East Side of San Carlos, click here.
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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: 2-15-15.

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The combination of low inventory and high buyer anxiety is pushing home prices to mind-numbing heights not only in San Carlos, but in some surrounding communities where you might not expect this type of behavior. One of those local neighborhoods is the Mount Carmel neighborhood of Redwood City, which in fairly close proximity to the southern most part of San Carlos.

Normally, there is a noticeable difference in pricing between equivalent sized homes in Mount Carmel, and anywhere in San Carlos. This is mostly due the to the fact that many buyers would eschew the picturesque Redwood City neighborhood and hold out for the higher ranked school district in San Carlos.   But this past week, two 3-bedroom homes went pending in Mount Carmel at prices that certainly seem much more San Carlos-like than Redwood City.  The gap between the two cities certainly seems to be closing.

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 2-15-2015:

San Carlos Housing Data 2-15-15 Prior Week
Closed Sales for the Week: 3 1
Average Sold Price: $1,593,333 $1,350,000
Average $/Sq Foot (Sold) $632 $785
Average Sold – Percentage Of List Price: 113% 113%
Average DOM of Closed Sales 55 6
No. of Homes Pending Sale: 23 22
No. of Active Listings: 10 10
Average Price of Active Listings: $1,331,500 $1,297,900
Average DOM of Active Listings: 47 7
Average $/Sq Foot (List) $753 $729
Active-Pending Ratio: 0.43 : 1 0.45: 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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