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The San Carlos Real Estate Week in Review: 8-30-15.

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The Scoop.

Listing activity picked up somewhat last week in San Carlos, certainly when compared to the prior week. Six new homes jumped into the fray, and only two went into contract. This succeeded in bringing the inventory back out of the single-digit range, but only back up to 12 total units for sale in the entire city. Even as we head into September, this is a paltry inventory level for what normally is a robust Fall market.

Condo and townhouse buyers enjoyed a (relatively) healthy uptick in new listings, with four new units debuting on the market — this succeeded in bringing the inventory total up to 5 total units.  That’s certainly not a huge number, but it’s over double where we started last week at this time.

With the month of September starting tomorrow, there are about 2 months left in the calendar year of decent real estate activity – maybe an additional two weeks if November turns out to be a dry one again like it has in previous years.  Here’s to hoping that buyers get quite a few more listings to choose from before the end of this year.

Here’s the recap from last week:

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 8-30-2015:

San Carlos Housing Data 8-30-15 Prior Week
Closed Sales for the Week: 2 8
Average Sold Price: $1,770,000 $1,536,876
Average $/Sq Foot (Sold) $909 $967
Average Sold as Percentage Of List Price: 110% 112%
Average DOM of Closed Sales 12 16
No. of Homes Pending Sale: 22 22
No. of New Listings: 6 3
Total # of Active Listings: 11 7
Average Price of Active Listings: $1,772,700 $2,256,754
Average DOM of Active Listings: 10 23
Average $/Sq Foot (List) $791 $841
Active-Pending Ratio: 0.50 : 1 0.32 : 1

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The San Carlos Real Estate Week in Review: 8-23-15.

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The Scoop.

Buyers were certainly out in force last week in San Carlos as they snapped up eight of the single-family homes that were on the market. The problem is that the sellers were clearly not on the same page, with only 3 new listings to hit the market during the same stretch. The net result is that the inventory of single-family homes for sale in San Carlos as we head into the new week sits at 7.

What’s even more discouraging for buyers hoping to find something in San Carlos is that of those seven homes, four of them are in the upper price range for San Carlos — $2.3M and above, and those 4 have been on the market for an average of 38 days. Of the remaining three, only one is in that sweet spot between $1.5M and $2M.  That’s not much to choose from as we start the new week.

Condo and townhouse buyers aren’t faring much better, either. Starting the week, there are only 2 units for sale in all of San Carlos.

Here’s the recap from last week:

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 8-23-2015:

San Carlos Housing Data 8-23-15 Prior Week
Closed Sales for the Week: 8 3
Average Sold Price: $1,536,876 $1,178,333
Average $/Sq Foot (Sold) $967 $823
Average Sold as Percentage Of List Price: 112% 109%
Average DOM of Closed Sales 16 12
No. of Homes Pending Sale: 22 22
No. of New Listings: 3 3
Total # of Active Listings: 7 12
Average Price of Active Listings: $2,256,754 $2,131,583
Average DOM of Active Listings: 23 17
Average $/Sq Foot (List) $841 $767
Active-Pending Ratio: 0.32 : 1 0.55 : 1

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The San Carlos Real Estate Week in Review: 8-16-15.

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The Scoop.

This past week marked the first of the back-to-school weeks, and the end of summer break for many in San Carlos. It’s shocking to believe that summer break is already over! But it also marks the beginning of what we hope will be a very robust Fall real estate market here in San Carlos. This is traditionally the last 3-month period of the year (August 15 – November 15) that sellers will put their homes on the market before shutting everything down for the holidays.

The activity last week was underwhelming by any standard. Only 3 new single-family listings hit the market, and 4 homes that were put into contract. We are starting the week with an inventory of 12 homes for sale in the entire city, and only one condo. Here’s to hoping we see more this week.

Here’s the scoop from last week:

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 8-16-2015:

San Carlos Housing Data 8-16-15 Prior Week
Closed Sales for the Week: 3 3
Average Sold Price: $1,178,333 $2,001,000
Average $/Sq Foot (Sold) $823 $888
Average Sold as Percentage Of List Price: 109% 113%
Average DOM of Closed Sales 14 28
No. of Homes Pending Sale: 22 21
No. of New Listings: 3 7
Total # of Active Listings: 12 13
Average Price of Active Listings: $2,131,583 $2,074,308
Average DOM of Active Listings: 17 11
Average $/Sq Foot (List) $767 $751
Active-Pending Ratio: 0.55 : 1 0.62 : 1

>>> Click Here to Read the Full Post
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The San Carlos Real Estate Week in Review: 8-9-15.

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The Scoop.

Continuing our discussion from last week about the $2,000,000 sales mark for homes in San Carlos, this week marked another interesting milestone — the average list price for all 13 homes currently on the market in San Carlos is now sitting at $2,001,000. Since I have been compiling statistics for the Real Estate Week in Review, I cannot recall if or when the average asking price has ever topped $2M for a given week. I can remember that it wasn’t too long ago when the average price of a home in San Carlos first eclipsed the $1,000,000 mark, though.  It was more recent than you probably think!

The same milestone also held true for homes that closed escrow this past week, with two of the three homes selling for over $2,000,000. There doesn’t seem to be any reluctance to hit this mark in San Carlos, that’s for sure.

After a relatively busy week, the condo and townhouse market has went back to sleep. There were no new listings in San Carlos last week in this market segment, and no closed sales to report. Only one unit went pending last week, putting the inventory at three units for sale in the entire city. And those three should all be in contract sometime this week.

Here’s the scoop from last week:

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 8-9-2015:

San Carlos Housing Data 8-9-15 Prior Week
Closed Sales for the Week: 3 5
Average Sold Price: $2,001,000 $1,857,500
Average $/Sq Foot (Sold) $888 $777
Average Sold as Percentage Of List Price: 113% 115%
Average DOM of Closed Sales 28 14
No. of Homes Pending Sale: 21 17
No. of New Listings: 7 4
Total # of Active Listings: 13 13
Average Price of Active Listings: $2,074,308 $1,759,267
Average DOM of Active Listings: 11 14
Average $/Sq Foot (List) $751 $792
Active-Pending Ratio: 0.62 : 1 0.76 : 1

>>> Click Here to Read the Full Post
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The San Carlos Real Estate Week in Review: 8-2-15.

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The Scoop.

The further that we get into this amazing run up in home prices all along the Peninsula, the more we seem to find ourselves circling around the $2,000,000 sales mark for homes in San Carlos. In all of 2014, there were 26 homes that sold for $2M or higher in San Carlos (on the MLS) — there are already 20 in just the first 7 months of 2015. What makes this number even more remarkable that there have been 9 homes that just missed this apex in 2015, having closed between $1.9M and $2M. Two of those 9 closed this past week.

Having reported on the San Carlos real estate market every week for the past 8 years, it still blows my mind that I am reporting numbers like this for San Carlos.  Truly amazing.

After a few quiet weeks, the condo and townhouse market has kicked back to life.  There are 4 new listings that hit the market last week, which should give shoppers in the market segment a little bit more to see. And speaking of noticeable price increases, the unit that closed this week at 3 Bellflower Lane along the previous sale at 20 Buttercup Lane are serving notice that you should be thinking about a number beginning with $1.3M if you want a clean 2BR townhouse with a view up in Crestview Park.

Again, truly amazing…

Here’s the scoop from last week:

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 8-2-2015:

San Carlos Housing Data 8-2-15 Prior Week
Closed Sales for the Week: 5 6
Average Sold Price: $1,857,500 $1,471,000
Average $/Sq Foot (Sold) $777 $795
Average Sold as Percentage Of List Price: 115% 119%
Average DOM of Closed Sales 14 10
No. of Homes Pending Sale: 17 16
No. of New Listings: 4 7
Total # of Active Listings: 13 14
Average Price of Active Listings: $1,759,267 $1,785,243
Average DOM of Active Listings: 14 12
Average $/Sq Foot (List) $792 $785
Active-Pending Ratio: 0.76 : 1 0.89 : 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: 7-26-15.

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The Scoop.

It was a surprisingly robust week for new listings in San Carlos, considering that we’re smack in the middle of the summer and late-July is not traditionally a strong market for listing homes. Nonetheless, there were seven new single-family listings that entered the market last week, which helped to drive the inventory up to a total of 14 homes for sale. That’s still not a huge number, but it’s a good pop above where we closed the previous week.

Sale prices for homes that closed last week were remarkably strong, too, with the sales prices fetching a whopping 19% above the list price on average.  That’s significantly higher than what we typically see on a weekly basis, and this week it can be attributed both to some surprisingly strong sales prices, combined with a few homes that were simply under-priced to begin with, which skewed that number slightly upward.

But regardless, the market still remains active and strong for single-family residences in San Carlos.  The same can’t be said for condos and townhomes, though.  As of this morning, there is only one condo for sale in the entire city

Here’s the scoop from last week:

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 7-26-2015:

San Carlos Housing Data 7-26-15 Prior Week
Closed Sales for the Week: 6 8
Average Sold Price: $1,471,000 $1,837,725
Average $/Sq Foot (Sold) $795 $852
Average Sold as Percentage Of List Price: 119% 110%
Average DOM of Closed Sales 10 23
No. of Homes Pending Sale: 16 19
No. of New Listings: 7 4
Total # of Active Listings: 14 10
Average Price of Active Listings: $1,785,243 $1,829,395
Average DOM of Active Listings: 12 11
Average $/Sq Foot (List) $785 $823
Active-Pending Ratio: 0.89 : 1 0.53 : 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: 7-19-15.

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The Scoop.

I always like to comb through the data every week when I run these reports to look for particular numbers that stand out. There’s usually one or two that will raise an eyebrow, and this week is no exception.

The first number that jumped out at me was the average sold price in San Carlos last week, which was a a whopping $1,837,725. And that’s just the average price for the week, and it’s abnormally skewed by having a small data pool.  There were 8 homes that closed escrow last week, which is a decent number for San Carlos, and half of them sold for $1.9M or higher.

Along the same theme, the second number that made me take notice was the average list price for a single-family home in San Carlos, which has now topped $1.8M. This 8% jump in the average list price in just a single week can be largely attributed to the addition of the $3M listing at 120 Wingate Avenue, but it’s still amazing to see how high home prices have climbed in San Carlos in just a few years. The City of Good Living is becoming an expensive place to live.

Here’s the scoop from last week:

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 7-19-2015:

San Carlos Housing Data 7-19-15 Prior Week
Closed Sales for the Week: 8 4
Average Sold Price: $1,837,725 $1,775,950
Average $/Sq Foot (Sold) $852 $801
Average Sold as Percentage Of List Price: 110% 112%
Average DOM of Closed Sales 23 28
No. of Homes Pending Sale: 19 24
No. of New Listings: 4 5
Total # of Active Listings: 10 9
Average Price of Active Listings: $1,829,395 $1,693,100
Average DOM of Active Listings: 11 9
Average $/Sq Foot (List) $823 $807
Active-Pending Ratio: 0.53 : 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: 7-12-15.

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The “slight bump” in listings that I predicted (or wishfully hoped for) in last week’s post somewhat materialized over the past week.  There were five new listings to test the summer market, which is still a significant number considering that it’s mid-July and the market is usually quiet this time of year.

The recent sales posted below at 30 Upland Avenue and 1616 Chestnut Street show that there is still significant strength in the 3-bedroom market, with both of these homes surprisingly topping the $1.6M mark. It will be interesting to see if that momentum continues with any new 3-bedroom listings that hit the market in them coming weeks.

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 7-day period ending Sunday 7-12-2015:

San Carlos Housing Data 7-12-15 Prior Week
Closed Sales for the Week: 4 3
Average Sold Price: $1,775,950 $1,465,000
Average $/Sq Foot (Sold) $801 $860
Average Sold as Percentage Of List Price: 112% 105%
Average DOM of Closed Sales 28 13
No. of Homes Pending Sale: 24 25
No. of New Listings: 5 4
Total # of Active Listings: 10 9
Average Price of Active Listings: $1,693,100 $1,714,889
Average DOM of Active Listings: 9 19
Average $/Sq Foot (List) $807 $726
Active-Pending Ratio: 0.42 : 1 0.36 : 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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