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The San Carlos Real Estate Week in Review: 6/20/2016.

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The Scoop.

The inventory of single-family homes in San Carlos continued to hold in the mid-20’s again this past week. There are still quite a few sellers that are looking to get their homes sold before we hit the 4th of July weekend, so I expect that new listing will continue to be brisk this week. Since only 3 homes went into contract last week, it’s conceivable that we could hit 30 homes for sale in San Carlos by the time this weekend rolls around. That will certainly play in the favor of home buyers, who will now have more homes to choose from.

Traditionally, July is one of the slower months in local residential real estate. Many buyers and sellers are on vacation, and sellers who are not in a rush to sell will opt to wait until the Fall when the buyers are back. But we are in a transitional market right now, and some sellers may choose forgo conventional wisdom and list their homes in July or August, since the forecast for the fall market is somewhat uncertain. Buyers who stick around this summer may indeed find the home that has eluded them so far this year.

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 6/19/2016:

San Carlos Housing Data 6/19/16 Prior Week
Closed Sales for the Week: 7 9
Average Sold Price: $1,949,286 $1,914,000
Average $/Sq Foot (Sold) $956 $989
Average Sold as Percentage Of List Price: 107% 114%
Average DOM of Closed Sales 10 9
Total # of Homes Pending Sale: 33 34
No. of New Listings: 8 6
Total # of Active Listings: 24 22
Average Price of Active Listings: $1,846,447 $2,020,529
Average DOM of Active Listings: 30 27
Average $/Sq Foot (List) $875 $860
Active-Pending Ratio: 0.73 : 1 0.65 : 1

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The San Carlos Real Estate Week in Review: 6/6/2016.

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The Scoop.

We are in the midst of the annual graduation/wedding/early-vacation lull that hits the San Carlos real estate market every year during the first two weeks of June. It’s just that time of year when there are a ton of activities that are crammed into the first two weeks of the month, and it tends to dilute the focus of home buyers, albeit temporarily. As the last of the schools get out for summer this week, and the UC system holding their graduations later in the week, its likely we will see another week of slower activity. Thankfully, things usually pick back up again over the last two weeks just before we get into the 4th of July weekend, as homeowners push to lock up a home before the slow summer months set in.

Even with the slower activity (only 4 new listings), the buyers managed to take 7 of the existing homes out of circulation, which dropped the inventory down to 22 homes for sale. Home prices remained relatively stable, with the closed sales fetching about 9% above the asking price on average.

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 6/5/2016:

San Carlos Housing Data 6/5/16 Prior Week
Closed Sales for the Week: 4 6
Average Sold Price: $1,646,250 $2,018,667
Average $/Sq Foot (Sold) $952 $907
Average Sold as Percentage Of List Price: 109% 102%
Average DOM of Closed Sales 8 13
Total # of Homes Pending Sale: 37 36
No. of New Listings: 4 9
Total # of Active Listings: 22 24
Average Price of Active Listings: $2,000,078 $1,858,447
Average DOM of Active Listings: 27 21
Average $/Sq Foot (List) $870 $849
Active-Pending Ratio: 0.59 : 1 0.67 : 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: 5/30/2016.

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The Scoop.

Happy Memorial Day, San Carlos! We are nearing the end of what has been an extremely busy month for San Carlos residential real estate. Even this past week saw quite a bit of activity, despite the fact that we were heading into a long weekend and many people opt to get out of Dodge a little early.

There were nine new single family residence listings to hit the market last week in San Carlos, which is a strong number considering the pace of new listings that we have seen so far this year. But an equal number of homes also went into contract during the same time period, thus keeping our inventory at the roughly the same level as the prior week. But regardless of the activity, it’s still a bit surprising to see the inventory sitting in the mid-high 2o range for as many weeks as it has. I will publishing some stats later this week that may give us a good idea why this is happening.

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 5/29/2016:

San Carlos Housing Data 5/29/16 Prior Week
Closed Sales for the Week: 6 4
Average Sold Price: $2,018,667 $2,088,750
Average $/Sq Foot (Sold) $907 $838
Average Sold as Percentage Of List Price: 102% 109%
Average DOM of Closed Sales 13 7
Total # of Homes Pending Sale: 36 32
No. of New Listings: 9 6
Total # of Active Listings: 24 25
Average Price of Active Listings: $1,858,447 $1,989,611
Average DOM of Active Listings: 21 21
Average $/Sq Foot (List) $849 $871
Active-Pending Ratio: 0.67 : 1 0.8 : 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: 5/23/2016.

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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

>>> 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: 5/16/2016.

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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
_____________________________________________________________________________

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.

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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
_____________________________________________________________________________

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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