No Longer Extraordinary?
The $2,000,000 home sales price threshold in San Carlos is one that we tracked fairly regularly on the White Oaks Blog last year. It wasn’t too long ago that a home sale at or above $2,000,000 in San Carlos was something that made us market-watchers sit up and take notice. But midway through last year, it was becoming readily apparent that this price point no longer rarefied air, as the market surpassed the previous year’s number of $2M sales before we were even halfway through 2014.
While that may not seem surprising when you consider how far and fast the real estate market increased, one can’t take for granted that buyers would happily shell out $2M or more on a home in San Carlos. After all, it’s not quite like Menlo Park or Palo Alto in that respect. But those very same aforementioned markets became immediately unaffordable to the to many home buyers last year, so many of them were forced to consider San Carlos as a viable option.
The 26 homes that sold for $2,000,000 or more in 2014 was double the number that sold the previous year, and was more than all of the previous 3 years combined. So clearly, there is very little resistance to this milestone in the San Carlos real estate market. In fact, you can expect to see quite a few more homes selling with a “2” in front of them in San Carlos in 2015.
For a list of the homes that sold for $2,000,000 or above in San Carlos, click here: $2M Home Sales – San Carlos
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