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The San Carlos Real Estate Week in Review: 2/8/2016.

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The Scoop.

It’s amazing how much of an effect the Super Bowl has on the local economy — especially when either of the local teams is participating in the game, or like we saw yesterday, when the game is played in the Bay Area. Nothing dares compete with the 800 pound gorilla in the room on this particular Sunday, especially the local real estate market. The numbers below prove that point. There wasn’t a new single-family residence listing this past week, and only two homes went into contract.

It has long been the understood that the spring real estate market really doesn’t start to gain traction until after the Super Bowl, regardless of who is playing. So if this theory holds true, we should start to see a more robust market starting tomorrow. Both the buyers and the sellers in this market hope that is indeed the case.

Here are 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 2/7/2016:

San Carlos Housing Data 2/7/16 Prior Week
Closed Sales for the Week: 2 0
Average Sold Price: $1,797,500 $0
Average $/Sq Foot (Sold) $868 $0
Average Sold as Percentage Of List Price: 99% 0%
Average DOM of Closed Sales 80 0
Total # of Homes Pending Sale: 17 17
No. of New Listings: 0 3
Total # of Active Listings: 7 13
Average Price of Active Listings: $1,518,818 $1,516,853
Average DOM of Active Listings: 34 22
Average $/Sq Foot (List) $751 $801
Active-Pending Ratio: 0.41 : 1 0.53 : 1

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The San Carlos Real Estate Week in Review: 2/1/2016.

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The Scoop.

January of 2016 is now in the books, and the San Carlos residential real estate market is off to a pretty decent start. The number of listings so far this year is roughly on par with 2015, which actually started off quite strong before it lost its steam (much more on that later this week.)

Buyers are still finding that there’s not much to choose from in this market, and we’re starting off the week with only 9 homes for sale in the entire city.  Most of the listings that went pending last week did so after only about a week on the market — most with multiple offers. Several of these homes will post surprising sales numbers (both positive and not so positive) when they ultimately close later this month, so stay tuned.

Here’s 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 1/31/2016:

San Carlos Housing Data 1/31/16 Prior Week
Closed Sales for the Week: 0 1
Average Sold Price: $0 $1,595,000
Average $/Sq Foot (Sold) $0 $1,029
Average Sold as Percentage Of List Price: 0% 114%
Average DOM of Closed Sales 0 8
Total # of Homes Pending Sale: 17 11
No. of New Listings: 3 6
Total # of Active Listings: 9 12
Average Price of Active Listings: $1,516,853 $1,472,431
Average DOM of Active Listings: 22 14
Average $/Sq Foot (List) $801 $856
Active-Pending Ratio: 0.53 : 1 1.1 : 1

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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: 1/25/2016.

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The Scoop.

We are heading into the last week of January, and the San Carlos real estate market is tracking pretty closely to where we were at this point last year. Last January there were 23 new single family listings to hit them market. So far in 2016, we’ve had 16 single-family homes make their debut with another full week left to go.

While that may sound like good news on the surface, that statistic is a bit of a double-edged sword. While we are essentially keeping pace with last year, it’s important to remember that 2015 produced the lowest number of listings in San Carlos in at least the last decade. This is a statistic that we will track frequently on the blog this year, as it’s a critical indicator on where our local real estate market is heading.

It’s also interesting to note that the average price for a single-family home that sold in San Carlos in January of 2015 was slightly over $1.3M. That figure has already topped just over $1.6M for the homes that have sold thus far this year, or a jump of 23%… 

Whether that’s good news or bad news probably depends on if you’re a home buyer or a home seller.

Here’s 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 1/24/2016:

San Carlos Housing Data 1/24/16 Prior Week
Closed Sales for the Week: 1 7
Average Sold Price: $1,595,000 $1,633,710
Average $/Sq Foot (Sold) $1,029 $905
Average Sold as Percentage Of List Price: 114% 111%
Average DOM of Closed Sales 8 19
Total # of Homes Pending Sale: 11 9
No. of New Listings: 6 4
Total # of Active Listings: 12 9
Average Price of Active Listings: $1,472,431 $1,434,648
Average DOM of Active Listings: 14 15
Average $/Sq Foot (List) $856 $757
Active-Pending Ratio: 1.1 : 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: 1/18/2016.

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The Scoop.

January 2016 is continuing at a very brisk pace in the San Carlos real estate market. It was very encouraging to see four more solid new listings to hit the market this past week, since the pace of new listings is normally a bit slower in early-mid January. The recent stock market volatility and the economic uncertainty certainly has some sellers thinking about selling sooner rather than later this year, as concerns about housing prices become more real.

That being said, the sale that closed this week at 2525 Nanette Drive ($601,000 above the asking price) demonstrates that there is still a strong appetite for homes with some sort of “X-Factor” — in the case of Nanette, it was the lot size and the bay views.  But it will be interesting to see moving forward in this volatile market just how strong that appetite remains.

Here’s 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 1/18/2016:

San Carlos Housing Data 1/18/16 Prior Week
Closed Sales for the Week: 7 1
Average Sold Price: $1,633,710 $1,450,000
Average $/Sq Foot (Sold) $905 $1,198
Average Sold as Percentage Of List Price: 111% 104%
Average DOM of Closed Sales 19 11
Total # of Homes Pending Sale: 9 15
No. of New Listings: 4 5
Total # of Active Listings: 9 7
Average Price of Active Listings: $1,434,648 $1,430,128
Average DOM of Active Listings: 15 14
Average $/Sq Foot (List) $757 $717
Active-Pending Ratio: 1 : 1 0.54 : 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: 1/11/2016.

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The Scoop.

As I predicted last week in the 2015 Real Estate Year in Review, the 2016 market in San Carlos came charging right out of the gate in our first full week of the new year. There were 5 new listings to hit the market, which is a much quicker start than what we experienced at this time last year. Two of these new listings — 2015 Eaton Avenue and 2079 Alma Street — will give us a very good indication how hungry the market is for “premier addresses” in San Carlos. I have a feeling there is still some upside in this market for properties on premier streets such as these. We will know soon enough.

Later this week on the site, we will recap the numbers on the higher-end of the market in San Carlos — those homes that sold for $2M or higher in 2015. You already know that we easily exceeded the total for 2014. The only question is by how much.

Here’s the first update of 2016:

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 1/11/2016:

San Carlos Housing Data 1/11/16 Prior Week
Closed Sales for the Week: 1 2
Average Sold Price: $1,450,000 $1,750,000
Average $/Sq Foot (Sold) $1,198 $944
Average Sold as Percentage Of List Price: 104% 96%
Average DOM of Closed Sales 11 32
No. of Homes Pending Sale: 15 15
No. of New Listings: 5 0
Total # of Active Listings: 7 2
Average Price of Active Listings: $1,430,128 $1,449,500
Average DOM of Active Listings: 14 23
Average $/Sq Foot (List) $717 $468
Active-Pending Ratio: 0.54 : 1 0.13 : 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: 1/4/2016.

2016 Calendar

The Scoop.

Happy New Year San Carlos! I hope everyone had a safe and memorable holiday season. 2015 was record year in many areas – housing climbed to its highest level on record, while gas prices dropped to their lowest levels in a decade. Interest rates stayed at rock-bottom levels for what could be the last year for awhile.

The San Carlos housing market set all kinds of records too — some high, and some low. We will cover these in detail this week on the blog in a series of articles that will dig a little deeper into a few of these key areas. Suffice it to say that it was another chart-popping year.

Here’s the first update of 2016:

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 1/4/2016:

San Carlos Housing Data 1/4/16 Prior Week
Closed Sales for the Week: 2 4
Average Sold Price: $1,750,000 $1,697,500
Average $/Sq Foot (Sold) $944 $1,054
Average Sold as Percentage Of List Price: 96% 103%
Average DOM of Closed Sales 32 10
No. of Homes Pending Sale: 15 17
No. of New Listings: 0 0
Total # of Active Listings: 2 2
Average Price of Active Listings: $1,449,500 $1,449,500
Average DOM of Active Listings: 30 23
Average $/Sq Foot (List) $468 $468
Active-Pending Ratio: 0.13 : 1 0.12 : 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: 12-27-15.

Happy-New-Year-2016

The Scoop.

It’s almost hard to believe, but we’re heading into the the last week of what has been a truly remarkable 2015 in the world of real estate in San Carlos. Over the course of the next 2 weeks, we will look in depth into a few of the forces and key statistics that played crucial roles in pushing the market to new heights (and new lows in some cases) in 2015.

On the subject of new lows, there has been a literal “house cleaning” of the available inventory of homes for sale in San Carlos this past week. Entering today, there are only 2 homes for sale in the entire city —  including townhouses and condos — which is easily the lowest number in the entire year. But home buyers should take solace in the fact that the market in 2016 should charge right of the gates early in January.

Have a safe and happy New Year’s celebration!  Here’s the last recap of 2015:

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 12-27-2015:

San Carlos Housing Data 12-27-15 Prior Week
Closed Sales for the Week: 4 5
Average Sold Price: $1,697,500 $1,790,000
Average $/Sq Foot (Sold) $1,054 $864
Average Sold as Percentage Of List Price: 103% 101%
Average DOM of Closed Sales 10 24
No. of Homes Pending Sale: 17 17
No. of New Listings: 0 0
Total # of Active Listings: 2 5
Average Price of Active Listings: $1,449,500 $1,477,000
Average DOM of Active Listings: 23 11
Average $/Sq Foot (List) $468 $644
Active-Pending Ratio: 0.12 : 1 0.29 : 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: 12-20-15.

christmas-2015-calendar

The Scoop.

The activity in the local real estate market dropped noticeably as we head into the last two weeks of 2015.  There were no new listings of any kind in San Carlos, and the inventory of single family homes has been depleted to a total of five — and that will drop to four very soon when 2525 Nanette Drive goes pending this week.

The big news last week was that the Federal Reserve decided to inch up interest rates for the first time in nearly a decade. They have also left the door open to future incremental increases in the base rate over the next several years. It remains to be seen what effect, if any, this policy change will have on the local real estate market. The real estate market in the bay area seems to work under a different set of rules, and often simply shrugs off policy changes such as this.

Enjoy your Christmas holiday!  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 12-20-2015:

San Carlos Housing Data 12-20-15 Prior Week
Closed Sales for the Week: 5 4
Average Sold Price: $1,790,000 $1,795,000
Average $/Sq Foot (Sold) $864 $944
Average Sold as Percentage Of List Price: 101% 108%
Average DOM of Closed Sales 24 15
No. of Homes Pending Sale: 17 19
No. of New Listings: 0 7
Total # of Active Listings: 5 9
Average Price of Active Listings: $1,477,000 $1,503,222
Average DOM of Active Listings: 11 8
Average $/Sq Foot (List) $644 $764
Active-Pending Ratio: 0.29 : 1 0.47 : 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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