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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

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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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The San Carlos Real Estate Week in Review: 2-8-15.

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January of 2015 is officially in the books, and it was a robust month by January standards.  As I noted earlier on the blog, there were more new single family listings in January of this year than in any January in the past four years. And historically, January’s performance tends to be an indicator of how the year will go.  So if that logic holds true, buyers should have a slightly better inventory to choose from this Spring. Let’s see if that holds up.

Along those very lines, February is off to a promising start with 6 single-family homes and 3 town homes making their market debut this past week.  Market demand has remained very strong so far this year — of the four homes that went pending this past week, at least two of them fetched a significant number of  offers.  The listing at 205 Clifton raised everyone’s eyebrows when it was disclosed that it received 29 offers.  That has not been the norm this Spring, or at any time in San Carlos, but it does highlight the fact that the market between $1M and $1.5M remains incredibly hot in this 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 2-8-2015:

San Carlos Housing Data 2-8-15 Prior Week
Closed Sales for the Week: 1 4
Average Sold Price: $1,350,000 $1,228,675
Average $/Sq Foot (Sold) $785 $703
Average Sold – Percentage Of List Price: 113% 103%
Average DOM of Closed Sales 6 11
No. of Homes Pending Sale: 22 19
No. of Active Listings: 10 8
Average Price of Active Listings: $1,297,900 $1,282,494
Average DOM of Active Listings: 7 18
Average $/Sq Foot (List) $729 $689
Active-Pending Ratio: 0.45 : 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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The San Carlos Real Estate Week in Review: 2-1-15.

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The activity was very intense last week in the world of San Carlos real estate, especially considering that we’re still in the final week of January, which is traditionally a slower month.  But buyers really rolled up their sleeves and battled for the few homes that were on the market.  8 homes went into contract in the last 7 days, with the vast majority of them getting multiple offers.

That in itself is not a surprise, but the prices that some of these homes fetched will raise some eyebrows when they are posted in a few weeks. And the sheer strength of the offers that are being written (even the losing ones) is simply amazing.  Suffice it to say that the new year has not brought any relief in pricing for homes in San Carlos.  The game is definitely on.

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 2-1-2015:

San Carlos Housing Data 2-1-15 Prior Week
Closed Sales for the Week: 4 4
Average Sold Price: $1,228,675 $1,358,750
Average $/Sq Foot (Sold) $703 $860
Average Sold – Percentage Of List Price: 103% 99%
Average DOM of Closed Sales 11 37
No. of Homes Pending Sale: 19 15
No. of Active Listings: 8 11
Average Price of Active Listings: $1,282,494 $1,534,177
Average DOM of Active Listings: 18 16
Average $/Sq Foot (List) $689 $786
Active-Pending Ratio: 0.42 : 1 0.69: 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: 1-25-15.

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The Peninsula real estate market is definitely back in full swing, even though we are still in January. Open houses were absolutely packed this weekend, as buyers looked to get a jumpstart on the rest of the home buyers that are planning to buy this year. 4 homes in San Carlos went into contract this past week, with none of them lasting on the market much longer than 2 weeks — and at least one of these 4 homes garnered quite a few offers.

Not all is rosy in the Silicon Valley job market, which plays such a big factor in the housing demand on the Peninsula.  eBay announced that they are laying off 2,400 workers, and Dreamworks is planning on shuttering its operations in the seaport of Redwood City, putting 500 people out of work. But it’s a fair bet that the overall growth of the tech economy still overshadows these missteps.  Box in Redwood City went public last week, which should bode well for their 1,100 or so employees that will be occupying those spectacular towers behind Sequoia Station.  And let’s not forget that gas prices are low, and the stock market is high — two items that help boost consumer confidence.

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 1-25-2015:

San Carlos Housing Data 1-25-15 Prior Week
Closed Sales for the Week: 4 1
Average Sold Price: $1,358,750 $1,150,000
Average $/Sq Foot (Sold) $860 $1,250
Average Sold – Percentage Of List Price: 99% 118%
Average DOM of Closed Sales 37 8
No. of Homes Pending Sale: 15 16
No. of Active Listings: 11 10
Average Price of Active Listings: $1,534,177 $1,659,000
Average DOM of Active Listings: 16 15
Average $/Sq Foot (List) $786 $758
Active-Pending Ratio: 0.69 : 1 0.63: 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

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: 1-17-15.

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The San Carlos real estate market seems to be charging out the gate this January, very much in contrast to the Januarys of prior years.  This past week alone, there were 7 new single-family listings to debut on the market, which pushed the inventory back to double-digits for the first time in over a month.

There is a widely held belief that the true start of the real estate market is after the Super Bowl is completed. This may have been true since for many years a local team was either in the big game, or at least competing for it. But we all know that this year is different, right? Perhaps this is a reason for the early season surge that we are seeing, or it could be that home sellers are sensing that it’s time to cash out and move on.  Either way, we’re off to a promising start so far.

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 1-17-2015:

San Carlos Housing Data 1-17-15 Prior Week
Closed Sales for the Week: 1 3
Average Sold Price: $1,150,000 $1,485,000
Average $/Sq Foot (Sold) $1,250 $603
Average Sold – Percentage Of List Price: 118% 97%
Average DOM of Closed Sales 8 31
No. of Homes Pending Sale: 16 13
No. of Active Listings: 10 5
Average Price of Active Listings: $1,659,000 $1,310,990
Average DOM of Active Listings: 15 9
Average $/Sq Foot (List) $758 $758
Active-Pending Ratio: 0.63 : 1 0.38: 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: 1-10-15.

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The early-January real estate market in San Carlos is slowly starting to awaken from the traditional holiday hibernation. There were 3 new listings to hit the market last week, and more that are in the planning phases to make their debut in the coming weeks.  It will take a pretty significant push to get the inventory back up into the double-digits, but early indications are showing that January will be an active month.

If you’re a buyer in this market, it would be good advice to pay close attention to the market in the coming weeks. There should be some good opportunities coming available.

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 1-10-2015:

San Carlos Housing Data 1-10-15 Prior Week
Closed Sales for the Week: 3 3
Average Sold Price: $1,485,000 $1,122,960
Average $/Sq Foot (Sold) $603 $804
Average Sold – Percentage Of List Price: 97% 100%
Average DOM of Closed Sales 31 24
No. of Homes Pending Sale: 13 16
No. of Active Listings: 5 3
Average Price of Active Listings: $1,310,990 $1,189,667
Average DOM of Active Listings: 9 32
Average $/Sq Foot (List) $758 $804
Active-Pending Ratio: 0.38 : 1 0.19: 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: 1-3-15.

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Welcome to 2015 on the White Oaks Blog! There was not much activity to report from the prior week, which was to be expected since it was the final holiday week of 2014.   But last week marked the close of what was the most dynamic real estate years in San Carlos in recent memory.  We will take a look back at 2014 later this week in the blog, but suffice it to say that numerous real estate records were set last year in San Carlos and throughout the Peninsula.  What’s even more incredible is that many of these same records will likely be topped in 2015 if the market continues on its upward trajectory.

So here’s to a prosperous New Year to all, and welcome back to another year on the White Oaks Blog.  Thank you again for being loyal readers of the site.

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 1-3-2015:

San Carlos Housing Data 1-3-15 Prior Week
Closed Sales for the Week: 3 5
Average Sold Price: $1,122,960 $1,611,420
Average $/Sq Foot (Sold) $804 $1,079
Average Sold – Percentage Of List Price: 100% 112%
Average DOM of Closed Sales 24 15
No. of Homes Pending Sale: 16 17
No. of Active Listings: 3 4
Average Price of Active Listings: $1,189,667 $1,377,500
Average DOM of Active Listings: 32 24
Average $/Sq Foot (List) $804 $752
Active-Pending Ratio: 0.19 : 1 0.24: 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

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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