The San Carlos Real Estate Week in Review: 5-12-12.

San Carlos Real Estate Summary.

New listings exceeded the number of pending sales this past week, resulting in a 24% uptick in the number of homes for sale in San Carlos.  But even with 26 homes currently for sale, that represents about half of what we would see in a normal year at this point in the spring market.   With the end of the school year just around the corner, it will be interesting to see what impact (if any) that will have on the temperature of the real estate market in San Carlos.

Here are the numbers for the week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 5-12-2012:

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The San Carlos Real Estate Week in Review: 5-5-12.

San Carlos Real Estate Summary.

Pending sales dropped significantly this week, with only 4 homes going into contract.  This is most likely due to a lack of inventory to choose from, and not reflective of a lack of buyer interest.    Several of the listings that hit the market this week will be pending this coming week too, as buyer interest remains strong.  But to give you an idea of how lean the inventory is, there are currently only 2 homes for sale in all of the White Oaks, one in Oak Park, and zero in Howard Park.   So for home buyers looking for the flats or wanting to stay close to downtown,  there’s very little to choose from right now.

Here are the numbers for the week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 5-5-2012:

>>> Click Here to Read the Full Post
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The San Carlos Real Estate Week in Review: 4-28-12.

San Carlos Real Estate Summary.

After a couple of weeks of steadily increasing inventory, the buyers kicked it into gear again this past week and cropped the available number of home for sale in San Carlos back down to 20, a decrease of 31% from where the week started.  Ouch.  It certainly didn’t help matters that there were only 3 new listings to choose from.   But for the time being, we’re back to a severely constrained market which is going to make it tough for buyers again.

Here are the numbers for the week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 4-28-2012:

>>> Click Here to Read the Full Post
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The San Carlos Real Estate Week in Review: 4-21-12.

San Carlos Real Estate Summary.

Home buyers in San Carlos got a rare treat this past week — there were actually more new listings to hit the market than there were pending sales, by a margin of over 2:1.    That means the inventory got a badly needed boost (to the tune of +45%), and buyers now have more than a few options to look at this weekend.  While the inventory is still an an unseasonably low of 29, it’s a welcome relief from being stuck in the teens.  Let’s hope this trend continues in the coming weeks, because there are more than enough buyers to handle any surge in inventory right now.

Here are the numbers for the week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 4-21-2012:

>>> Click Here to Read the Full Post
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The San Carlos Real Estate Week in Review: 4-14-12.

San Carlos Real Estate Summary.

There’s an interesting nugget in this week’s data – of all the homes that closed escrow this past week, over half of them were below their original list price.    Looking at the days-on-market averages for that group, it’s apparent that buyers are circling back and looking at some of the homes that have been on the market for an extended period of time — something we discussed on the site a few weeks back.

But don’t let that suggest that the market is cooling down just yet in San Carlos.  Multiple offers and aggressive bidding are still the norm for the time being.   Here’s a look at this week’s numbers…

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 4-14-2012:

>>> Click Here to Read the Full Post
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The San Carlos Real Estate Week in Review: 4-7-12.

San Carlos Real Estate Summary.

Easter weekend usually marks the unofficial half-way point in the spring real estate market, with roughly an equal number of weeks on either side in the spring home shopping season.  And this year has been a memorable one so far.  We enter the second half with record low inventory — we dipped as low as 18 homes for sale this week — and an absurdly low active-to-pending ratio of 0.31.   Multiple offers are the norm rather than the exception in this market, and there’s no sign of that changing in the coming weeks.

Happy Easter!  Here are the numbers for this past week…

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 4-7-2012:

>>> Click Here to Read the Full Post
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The San Carlos Real Estate Week in Review: 3-31-12.

San Carlos Real Estate Summary.

The lack of new listings once again controlled the pace of the market in San Carlos this past week.   With only 4 new single-family residences to choose from, the pending sales number dropped to half the rate of last week.   Buyers can’t buy what’s not there.  This mirroring of pending sales versus new listings kept the inventory at 21 homes for sale in the city — a number which will probably drop again into the teens by next week since 104 Windsor Drive and 29 Upland Avenue will be taking offers on Tuesday.

Here are the numbers for this past week…

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 3-31-2012:

>>> Click Here to Read the Full Post
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The San Carlos Real Estate Week in Review: 3-24-12.

San Carlos Real Estate Summary.

The numbers are simply mind-boggling for buyers looking to find a home in San Carlos.   22 active listings is an abnormally low number for any time of the year, but it’s unprecedented for the end of March.  And when you compare that to the 55 homes that are currently pending sale, the ratio of active to pending plummets to 0.4!   There are 2.5 times more homes pending sale than for sale in San Carlos right now.   As a point of reference, most communities never see a ratio below 1, and are frankly thrilled if they can get it down below 3.

If that’s not daunting enough, the average days on the market for homes that went pending this past week was 26, which is a reasonable number.  But if you take out just one home that took 185 days to sell, that average number drops to 12 days for the other 11 sales.   That means on average, you have less than 2 weeks to decide on a new listing once it hits the market.   In reality, you have less than a week, if you factor in the time it takes to prepare the offer.   Tough sledding for buyers these days, but it underscores the preparation and focus that’s required to be in this market right now.

Here are the numbers for this past week…

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 3-24-2012:

>>> Click Here to Read the Full Post
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