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The San Carlos Real Estate Week in Review: 9-20-14.

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The Fall real estate market is now in full swing in San Carlos.  There were 12 closings last week, which is a testament to how much activity has been going on in the past month or so.  Pricing has remained strong, with the past group of homes fetching an average of 8% over the asking price.  Some were much higher, as you can see below.

Buyers made a strong statement that they are back in the hunt, as seven homes from last week’s inventory were snapped up — and it’s worth noting that all 7 of these homes were only on the market for two weeks or less.  So the inventory is turning at a pretty brisk pace again right now in San Carlos.  What’s the message in that for buyers?  You need to make sure you get out to see new homes as soon as they hit the market.  The homes that are priced right and check the most number of boxes for today’s buyers are starting to sell again in just the first week on the market.

Here are the details from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 9-20-2014:

San Carlos Housing Data 9-20-14 Prior Week
Closed Sales for the Week: 12 3
Average Sold Price: $1,460,042 $1,173,333
Average $/Sq Foot (Sold) $819 $653
Average Sold – Percentage Of List Price: 108% 101%
Average DOM of Closed Sales 10 31
No. of Homes Pending Sale: 27 34
No. of Active Listings: 16 15
Average Price of Active Listings: $1,406,479 $1,411,779
Average DOM of Active Listings: 15 18
Average $/Sq Foot (List) $706 $734
Active-Pending Ratio: 0.6 : 1 0.44 : 1

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The San Carlos Real Estate Week in Review: 9-13-14.

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The dramatic drop-off in new listings in the San Carlos market last week really surprised everyone who watches this market closely.  There were only 3 new listings to pop up last week, and only one of them listed on Friday.  That meant that prospective home buyers had only 15 single-family homes in the entire city to choose from over this past weekend.   With all of the pre-sales activity that has been going on behind the scenes, that’s just a surprisingly low number.   When you combine that with the 7 homes that went into contract over the same period, our inventory is starting to look like it did back in the spring — really slim.

But there should be more hitting the market this week.  I have another fabulous San Carlos home in the flats that I will be listing later this week — stay tuned to the site for more details.

Here are the details from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 9-13-2014:

San Carlos Housing Data 9-13-14 Prior Week
Closed Sales for the Week: 3 6
Average Sold Price: $1,173,333 $1,315,000
Average $/Sq Foot (Sold) $653 $820
Average Sold – Percentage Of List Price: 101% 99%
Average DOM of Closed Sales 31 27
No. of Homes Pending Sale: 34 27
No. of Active Listings: 15 20
Average Price of Active Listings: $1,411,779 $1,327,326
Average DOM of Active Listings: 18 17
Average $/Sq Foot (List) $734 $743
Active-Pending Ratio: 0.44 : 1 0.74 : 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: 9-6-14.

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The fall real estate market in San Carlos is really flexing its muscle, much as I expected it would.  Last week, 9 new listings hit the market, which is a significant injection of inventory for any time of the year let alone the fall.   But that barely made a dent in the number of homes for sale, because San Carlos home buyers snapped up 7 homes during the same period.   The net result is that the total inventory level remained nearly unchanged from last week, and is sitting at 20 homes for sale at the time of this update.

Open houses were very well attended over the weekend, as many serious buyers were out looking to get their home deal locked up before the holiday season gets here.   If you have been looking for a home all year in San Carlos and have been frustrated by the lack of inventory and the intense competition, I highly encourage you to stay on task over the next two months.  There will be some really good homes hitting the market this fall, and I believe that those buyers who remain committed to finding their perfect San Carlos home may finally be rewarded.

Here are the details from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 9-6-2014:

San Carlos Housing Data 9-6-14 Prior Week
Closed Sales for the Week: 6 5
Average Sold Price: $1,315,000 $1,643,000
Average $/Sq Foot (Sold) $820 $713
Average Sold – Percentage Of List Price: 99% 109%
Average DOM of Closed Sales 27 20
No. of Homes Pending Sale: 27 26
No. of Active Listings: 20 20
Average Price of Active Listings: $1,327,326 $1,375,934
Average DOM of Active Listings: 17 21
Average $/Sq Foot (List) $743 $728
Active-Pending Ratio: 0.74 : 1 0.77 : 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: 8-30-14.

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The first week of the fall market in San Carlos was definitely a strong one.  I get the sense that buyers are going to have some great choices in the coming weeks.   Stagers, inspectors, and title reps are all very busy right now, which is a strong indicator that more inventory is on the way.   I have several stellar San Carlos listings that will be coming on the market in September, so stay tuned to the site for more details on these incredible homes.

For those of you hoping that the amount of overbidding and multiple offers might curb a bit in the fall market, that sure didn’t happen last week.   The five homes that changed hands last week did so at about a 9% premium over the asking price, which as been pretty typical of the market this year.    Fasten your seatbelts — the fall market is here, and there are some very cool listings on the horizon!

Here are the details from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 8-30-2014:

San Carlos Housing Data 8-30-14 Prior Week
Closed Sales for the Week: 5 4
Average Sold Price: $1,643,000 $1,322,250
Average $/Sq Foot (Sold) $713 $728
Average Percentage Over List Price: 109% 105%
Average DOM of Closed Sales 20 21
No. of Homes Pending Sale: 26 23
No. of Active Listings: 20 20
Average Price of Active Listings: $1,375,934 $1,481,112
Average DOM of Active Listings: 21 19
Average $/Sq Foot (List) $728 $758
Active-Pending Ratio: 0.77 : 1 0.87 : 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: 8-23-14.

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The first real wave of housing inventory in the fall market hit San Carlos last week. Nine new listings debuted in the city, which is a nice jump-start from the first few weeks of August when the market was predictably sluggish. Five homes were put into contract, most notably two of the remaining units at Mirabel Place. If you’re looking for an gauge on whether new, high-density housing will be well received by the buying public, the development at Mirabel Place should be considered a resounding success. Of the six units that have either sold or are in contract, the average days on market is 3. They were literally either selling before they ever hit the market, or getting snapped up as soon as they hit the MLS.

Look for the pace of new listings to pick up in the coming weeks.  The kids are all back to school this week, minus the UC system and perhaps a few private schools.   The fall market is officially underway in San Carlos!

Here are the details from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 8-23-2014:

San Carlos Housing Data 8-23-14 Prior Week
Closed Sales for the Week: 4 4
Average Sold Price: $1,322,250 $1,432,500
Average $/Sq Foot (Sold) $728 $654
Average Percentage Over List Price: 105% 105%
Average DOM of Closed Sales 21 17
No. of Homes Pending Sale: 23 22
No. of Active Listings: 20 17
Average Price of Active Listings: $1,481,112 $1,581,693
Average DOM of Active Listings: 19 21
Average $/Sq Foot (List) $758 $745
Active-Pending Ratio: 0.87 : 1 0.77 : 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: 8-16-14.

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The late-summer slowdown continued in the San Carlos real estate market this past week as the summer break starts to wrap up.   For those buyers still looking in San Carlos, these are the market conditions that you’ve been waiting for all year — less competition, fewer multiple offers, and continued favorable interest rates.    Just look at the pending sales numbers this past week.  For the 5 homes that went pending, they took an average of over 21 days to get into contract, and most only had one offer to work with.   That’s an incredible difference from just a few months ago when everything was garnering multiple offers and moving in the first 7-10 days.

Granted, inventory is a bit sparse with only 17 homes to choose from, but there are still some really nice homes just sitting on the market right now.   But look for that to change starting around Labor Day.  Inspectors and stagers are reporting that they are getting booked out weeks in advance, which means there are more new listings coming.  I will have two incredibly beautiful San Carlos listings that will be hitting the market in September — both are in prime locations in White Oaks and Howard Park.  Stay tuned to the site in the coming weeks for more info about these stellar homes.

Here are the details from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 8-16-2014:

San Carlos Housing Data 8-16-14 Prior Week
Closed Sales for the Week: 4 4
Average Sold Price: $1,432,500 $1,428,750
Average $/Sq Foot (Sold) $654 $816
Average Percentage Over List Price: 105% 101%
Average DOM of Closed Sales 17 19
No. of Homes Pending Sale: 22 19
No. of Active Listings: 17 21
Average Price of Active Listings: $1,581,693 $1,522,511
Average DOM of Active Listings: 21 33
Average $/Sq Foot (List) $745 $728
Active-Pending Ratio: 0.77 : 1 1.1 : 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: 8-9-14.

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Much to the chagrin of the kids (but to the joy of parents everywhere), the pilgrimage back to school is only a week away for some, and a few weeks for the rest.   That means that last week and this week are two of the biggest vacation weeks of the summer, as people get their last-dash trips taken before school revs up.     You could certainly feel that lull in the market last week, as only two new listings popped up on the radar, and 4 homes went into contract.  This is quite a drop from the pace of the last few weeks.

Inventory is slowly starting to build back up, and homes are staying on the market slightly longer on average.  The 21 homes that are currently for sale in San Carlos have been listed for an average of 33 days.  This is about twice as long as the average earlier in the year, which should be an indication to buyers that there are some homes out there that may not take multiple offers to get.

Here are the details from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 8-9-2014:

San Carlos Housing Data 8-9-14 Prior Week
Closed Sales for the Week: 4 7
Average Sold Price: $1,428,750 $1,546,925
Average $/Sq Foot (Sold) $816 $774
Average Percentage Over List Price: 101% 106%
Average DOM of Closed Sales 19 25
No. of Homes Pending Sale: 19 21
No. of Active Listings: 21 19
Average Price of Active Listings: $1,522,511 $1,617,568
Average DOM of Active Listings: 33 30
Average $/Sq Foot (List) $728 $704
Active-Pending Ratio: 1.1 : 1 0.90 : 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: 8-2-14.

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Does it feel like house prices have really taken a jump this year in San Carlos?  It wasn’t too many years ago when the average sales price of a home in San Carlos topped the $1M mark, and that seemed like a big deal back then.  especially for a town comprised mostly of 3BR, post WWII homes.

Fast forward to this week, and the average sales price of all of the 10 homes that sold is over $1.5M.  That’s just the average.  Is this just an anomaly?  Not really…

During the course of 2014, the average sales price has never fallen below $1.2M for any given month, and June 2014 set an all-time record for San Carlos with the monthly average sales price of $1,623,504.   Yes, it is getting quite expensive to buy a home in San Carlos.

Here are the details from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 8-2-2014:

San Carlos Housing Data 8-2-14 Prior Week
Closed Sales for the Week: 10 7
Average Sold Price: $1,546,925 $1,136,000
Average $/Sq Foot (Sold) $774 $779
Average Percentage Over List Price: 106% 106%
Average DOM of Closed Sales 25 14
No. of Homes Pending Sale: 21 23
No. of Active Listings: 19 22
Average Price of Active Listings: $1,617,568 $1,415,209
Average DOM of Active Listings: 30 26
Average $/Sq Foot (List) $704 $699
Active-Pending Ratio: 0.90 : 1 0.96 : 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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