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The San Carlos Real Estate Week in Review: 5/23/2016.

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The Scoop.

Home buyers stole the stage last week in San Carlos. There were almost twice as many single-family homes that went into contract (10) than there were new listings (6). This served to pull the inventory of homes for sale down a bit to 24 homes. That’s still higher than what we have been accustomed to for most of this spring, and it will still be a bit of a challenge to digest all of these listings. But clearly, buyers were out in droves last week looking at homes. It’s either that they are pushing to lock up their purchase before the summer vacation months hit, or they simply have more time now to seriously look for a home. Either way, the activity is definitely up, and should continue into next week.

Here is a look at last week’s numbers:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 5/22/2016:

San Carlos Housing Data 5/22/16 Prior Week
Closed Sales for the Week: 4 4
Average Sold Price: $2,088,750 $2,030,000
Average $/Sq Foot (Sold) $838 $1,072
Average Sold as Percentage Of List Price: 109% 114%
Average DOM of Closed Sales 7 15
Total # of Homes Pending Sale: 32 25
No. of New Listings: 6 9
Total # of Active Listings: 24 29
Average Price of Active Listings: $1,989,611 $1,905,159
Average DOM of Active Listings: 21 20
Average $/Sq Foot (List) $871 $875
Active-Pending Ratio: 0.8 : 1 1.2 : 1

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The San Carlos Real Estate Week in Review: 5/16/2016.

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The Scoop.

The listing machine was in high gear again last week in San Carlos, which should come as welcome relief to home buyers. Nine new listings debuted on the market, and with only five homes going into contract, the inventory of single family homes in San Carlos now stands at 29. This continues to be the highest sustainable inventory level that we have seen in several years, and along with the average of 20 days on the market for this inventory, it indicates that certain homes are simply not selling as fast as they were only a few months ago.

This does not mean that all homes are taking longer to sell. All five homes that went pending last week did so in about 2 weeks or less. So it’s clear that homes that are priced well and in good locations are still selling relatively quickly. The market is being extremely selective on those that are not.

Here is a look at last week’s numbers:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 5/15/2016:

San Carlos Housing Data 5/15/16 Prior Week
Closed Sales for the Week: 4 5
Average Sold Price: $2,030,000 $2,151,900
Average $/Sq Foot (Sold) $1,072 $1,087
Average Sold as Percentage Of List Price: 114% 98%
Average DOM of Closed Sales 15 11
Total # of Homes Pending Sale: 25 24
No. of New Listings: 9 12
Total # of Active Listings: 29 26
Average Price of Active Listings: $1,905,159 $1,850,139
Average DOM of Active Listings: 20 17
Average $/Sq Foot (List) $875 $855
Active-Pending Ratio: 1.2 : 1 1.1 : 1

>>> Click Here to Read the Full Post
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Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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: 5/9/2016.

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The Scoop.

It’s obvious that the “Sell Your Home Now” memo got out to San Carlos home owners this past week. Between Monday and Friday of last week, 12 new listings flooded the market — most of them seemed to hit on Friday. That temporarily pushed the inventory up to 29 single-family homes for sale throughout the city. Both of those were high marks for San Carlos in 2016, by far.

Buyers were not idle last week either. Eight homes went into contract, with three of those eight being locked up in a week or less from the listing date. That settled the inventory down to 26 homes for sale at the time of this post.

Sold pricing faced some downward pressure, which is not something we’ve seen recently. The 5 homes that sold during the prior week only fetched an average of 98% of the asking price, and only one of the five actually fetched a sales price that was above the asking price.  That is certainly more severe that what’s happening in the market right now, but you will certainly start to see more homes selling below their asking price than what we have grown accustomed to in this crazy uphill market.

Here is a look at last week’s numbers:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 5/8/2016:

San Carlos Housing Data 5/8/16 Prior Week
Closed Sales for the Week: 5 7
Average Sold Price: $2,151,900 $1,818,875
Average $/Sq Foot (Sold) $1,087 $924
Average Sold as Percentage Of List Price: 98% 105%
Average DOM of Closed Sales 11 14
Total # of Homes Pending Sale: 24 18
No. of New Listings: 12 7
Total # of Active Listings: 26 23
Average Price of Active Listings: $1,850,139 $1,938,116
Average DOM of Active Listings: 17 21
Average $/Sq Foot (List) $855 $797
Active-Pending Ratio: 1.1 : 1 1.3 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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: 5/2/2016.

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The Scoop.

For the second straight week, the San Carlos residential real estate market was running at a very high pace. There were seven really nice listings to jump into fray, and six of the homes in the existing inventory were locked up into contract. Even the market for townhouses and condos saw about double the activity compared to a normal week.

You can expect to see more of the same of this kind of activity now that we are entering the last full month of the Spring real estate market.  May always affords us a long stretch of uninterrupted sales time — all of the Spring breaks are finally done, and the next big distraction isn’t until the end of the month when Memorial Day weekend reminds everyone that summer is right around corner. Anyone who is interested in getting their home sold before the summer break hits really needs to do so in the next 2-3 weeks, so look for a steady flow of inventory each week this month.

Here is a look at last week’s numbers:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 5/1/2016:

San Carlos Housing Data 5/1/16 Prior Week
Closed Sales for the Week: 8 8
Average Sold Price: $1,818,875 $1,704,500
Average $/Sq Foot (Sold) $924 $931
Average Sold as Percentage Of List Price: 105% 114%
Average DOM of Closed Sales 14 17
Total # of Homes Pending Sale: 18 19
No. of New Listings: 7 9
Total # of Active Listings: 23 24
Average Price of Active Listings: $1,938,116 $1,936,607
Average DOM of Active Listings: 21 20
Average $/Sq Foot (List) $797 $844
Active-Pending Ratio: 1.3 : 1 1.3 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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: 4/25/2016.

2016 Calendar

The Scoop.

The pace of new listings definitely picked up last week in San Carlos. Nine new single-family homes debuted on the market, and two townhouse/condo units also jumped into fray. This is not a surprise, since we are essentially right in the thick of the Spring real estate market, and we generally see a spike around this time.

Home prices are holding their own, as is evidenced by the data on closed sales from last week. These homes garnered an average of 14% above the asking price, with most of them pulling in 6-figure premiums. This indicates that strong buyers are still out there looking for the right home in San Carlos. Even homes that have been on the market for 21 days or more are starting to see renewed interest, so there are still definitely more buyers than there are sellers in this market.

Here is a look at last week’s numbers:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 4/24/2016:

San Carlos Housing Data 4/24/16 Prior Week
Closed Sales for the Week: 8 5
Average Sold Price: $1,704,500 $1,434,200
Average $/Sq Foot (Sold) $931 $970
Average Sold as Percentage Of List Price: 114% 112%
Average DOM of Closed Sales 17 9
Total # of Homes Pending Sale: 19 22
No. of New Listings: 9 6
Total # of Active Listings: 24 21
Average Price of Active Listings: $1,936,607 $2,183,934
Average DOM of Active Listings: 20 21
Average $/Sq Foot (List) $844 $899
Active-Pending Ratio: 1.3 : 1 0.95 : 1

>>> Click Here to Read the Full Post
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Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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: 4/18/2016.

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The Scoop.

Buyers and sellers were both very active last week in San Carlos. 6 more single-family listings jumped into the fray, only to be outpaced by the buyers who locked up 7 of the homes that were already on the market. The net result is that the inventory of single-family homes in San Carlos remained nearly unchanged from last week, and now sits at 21 homes for sale.

The inventory remains slightly weighted toward the higher end of the price range for San Carlos, with 57% of the homes for sale right now being listed at $2,000,000 or more. Regardless, from what I am sensing from talking to sellers and other agents, there is certainly more inventory coming over the next 45 days before the Spring real estate market slips into the summer slowdown, so buyers will certainly not be lacking options if they want to live in San Carlos.

Here is a look at last week’s numbers:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 4/17/2016:

San Carlos Housing Data 4/17/16 Prior Week
Closed Sales for the Week: 5 1
Average Sold Price: $1,434,200 $1,150,000
Average $/Sq Foot (Sold) $970 $782
Average Sold as Percentage Of List Price: 112% 115%
Average DOM of Closed Sales 9 8
Total # of Homes Pending Sale: 22 20
No. of New Listings: 6 7
Total # of Active Listings: 21 22
Average Price of Active Listings: $2,183,934 $2,100,408
Average DOM of Active Listings: 21 23
Average $/Sq Foot (List) $899 $900
Active-Pending Ratio: 0.95 : 1 1.1 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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: 4/11/2016.

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The Scoop.

New listings were certainly the talk of the San Carlos real estate market this past week. For the second straight week 7 of them jumped into the market, which is much more of a normal number of new listings as we enter the final 60-day push of the Spring real estate period.

What’s interesting from the numbers below is that only one house went into contract all of last week. This is slightly peculiar since it’s not what one would expect to this this time of year, and it’s the prime reason why the inventory of homes for sale suddenly pushed up to 22 in just a matter of a week.

Part of this can be attributed to it being the last week of Spring break, and that many locals were simply out of town. And some of the obviously desirable homes are not taking offers until this week. So perhaps this is just a temporary dip, and homes will start to go into contract at much higher clip this week. But it’s something worth keeping a close eye on it.

Either way, look for a lot of activity in the coming weeks – both in new listings and hopefully sold homes. It’s that time of year again, after all.

Here is a look at last week’s numbers:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 4/10/2016:

San Carlos Housing Data 4/10/16 Prior Week
Closed Sales for the Week: 1 3
Average Sold Price: $1,150,000 $1,641,667
Average $/Sq Foot (Sold) $782 $791
Average Sold as Percentage Of List Price: 115% 106%
Average DOM of Closed Sales 8 16
Total # of Homes Pending Sale: 20 20
No. of New Listings: 7 7
Total # of Active Listings: 22 17
Average Price of Active Listings: $2,100,408 $2,176,231
Average DOM of Active Listings: 23 25
Average $/Sq Foot (List) $900 $895
Active-Pending Ratio: 1.1 : 1 0.8 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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: 4/4/2016.

April

The Scoop.

The San Carlos real estate market snapped back into its normal Spring form this week after the Easter break. There were seven new single family home listings to hit the market, but even with the surge of listing activity the inventory of single family homes to choose from in San Carlos is still sitting at only at 17 as of this morning. That’s because five homes went into contract during the same period. Interestingly, two of the five sold within the first three days of being on the market. That means there’s lots of activity, but still no inventory is being established.

For the third straight week, we will be dealing with some form of Spring break. This time it’s the local public schools that will be off for the week, so we will have to see if it has a negative effect on the market activity, since many San Carlos families will ducking out of town for the week.

Here is a look at last week’s numbers:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 4/3/2016:

San Carlos Housing Data 4/3/16 Prior Week
Closed Sales for the Week: 3 1
Average Sold Price: $1,641,667 $1,510,000
Average $/Sq Foot (Sold) $791 $1,228
Average Sold as Percentage Of List Price: 106% 117%
Average DOM of Closed Sales 16 12
Total # of Homes Pending Sale: 20 17
No. of New Listings: 7 1
Total # of Active Listings: 17 14
Average Price of Active Listings: $2,176,231 $2,203,280
Average DOM of Active Listings: 25 27
Average $/Sq Foot (List) $895 $839
Active-Pending Ratio: 0.8 : 1 0.8 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
Don’t miss a single update!
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