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The San Carlos Real Estate Week in Review: 3-15-15.

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The post that I published on the blog last week about the sudden drop in listings (and consequently inventory) in San Carlos was picked up and expounded on in this article the Daily Journal.  San Carlos is not alone in this respect — the number of new listings in most communities along the Peninsula are is either flat, or down from previous years, which is exactly why we are being shell-shocked with some of the prices that are being paid for homes in the past few weeks.

New listings are such a vital metric to the health and balance of the real estate market that I have started tracking them in the summary table below under San Carlos Housing Data.

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 3-15-2015:

San Carlos Housing Data 3-15-15 Prior Week
Closed Sales for the Week: 4 5
Average Sold Price: $1,601,559 $1,564,000
Average $/Sq Foot (Sold) $798 $881
Average Sold as Percentage Of List Price: 112% 104%
Average DOM of Closed Sales 14 11
No. of Homes Pending Sale: 16 18
No. of New Listings: 6 4
Total # of Active Listings: 11 7
Average Price of Active Listings: $1,362,632 $1,304,714
Average DOM of Active Listings: 12 13
Average $/Sq Foot (List) $847 $901
Active-Pending Ratio: 0.69 : 1 0.39: 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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A Reminder About Leaving Valuables in Your Car.

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Complacency.

One of the characteristics that people find endearing about San Carlos is its relatively low crime levels, and its trustworthy community feel. I know a number of residents that rarely ever lock their house or their cars, regardless of whether they are home or not. But that very trust that makes us so comfortable here can also lead to a complacency that burglars will absolutely seize.

A recent case in point was the latest smash-and-grab car burglaries that took place in the parking lot of the San Carlos Marketplace (Best Buy, Ross, etc..).  Lucky for these people, the perps were caught across the bay and most of the stolen items were recovered. Thieves love this parking lot because of its close proximity to the freeway for a getaway route, and the fact that people will leave their valuables in plain sight in the car — purses, phones, laptops — while they jump out and get lunch or coffee.  Even if the car is locked, the thieves simply just punch the windows in, grab your stuff, and they’re gone in seconds.  This has been a ongoing problem with this parking lot, and others that straddle 101.

There have also been some vehicle break-ins closer to home.  Most recently, a string of cars along Carmelita Drive were broken into in the wee hours of the morning, and valuables were taken. And it seems that only a few weeks go by and you hear of another street getting hit.

The bottom line is that you need to be extra diligent about not leaving anything of value in your car if you can at all avoid it.  If you have things in your car that a thief can turn over for money, store them out of site in the trunk.  Better yet, just take them with you.

It’s a bummer to have to write this kind of article, but just because we love and trust the community we live in, it doesn’t guarantee that everyone else that passes through our city does too.

Have a safe weekend…
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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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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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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: 3-8-15.

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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.
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: 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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