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The San Carlos Real Estate Week in Review: 4-19-15.

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The final week of Spring break is underway, with the Sequoia Union High School District taking this week off.  That should be the last major distraction to the market as we head through the Spring buying season. This year it seemed like there were at least 3 different weeks when the the local schools, private schools, and colleges took their Spring break.  It’s pretty hard to plan a vacation when everyone is on different schedules.

Regardless, that did not seem to temper the enthusiasm in the San Carlos real estate market. The five new listings that hit the market were outnumbered by the seven homes that were put into contract, thus dropping our inventory of homes for sale back down to 15, which is simply a ridiculously low number for this time of year. I am still counting on a significant bump in the number of new listings in the coming weeks, as sellers race to get their homes on the market before the summer break.  I will have two more San Carlos listings hitting the market during that period — stay tuned to the site in the coming weeks for more details.

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 4-19-2015:

San Carlos Housing Data 4-19-15 Prior Week
Closed Sales for the Week: 3 5
Average Sold Price: $1,392,667 $1,666,000
Average $/Sq Foot (Sold) $863 $749
Average Sold as Percentage Of List Price: 116% 116%
Average DOM of Closed Sales 10 85
No. of Homes Pending Sale: 19 15
No. of New Listings: 5 9
Total # of Active Listings: 15 16
Average Price of Active Listings: $1,708,467 $1,671,804
Average DOM of Active Listings: 17 13
Average $/Sq Foot (List) $808 $788
Active-Pending Ratio: 0.79 : 1 1.1: 1

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The San Carlos Real Estate Week in Review: 4-12-15.

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As I predicted last week, the new listings started to come out of the woodwork after the Easter weekend.  San Carlos saw 9 single-family homes make their listing debut this past week, with most of them hitting the market late in the week.  I expect that this trend will continue in the coming weeks as we head into the sweet spot of the Spring real estate market.

This week also saw the unveiling of the first nearly $5M listing that I have ever seen in San Carlos at 168 Queens Court.  It will be interesting to watch where this one sells, because it will certainly test just how rich the San Carlos real estate market really is.

Sales figures on closed homes were once again off the charts, with two homes fetching premiums of over $400,000 above the asking price.  There seems to be nothing that will dampen the enthusiasm for homes in San Carlos 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 4-12-2015:

San Carlos Housing Data 4-12-15 Prior Week
Closed Sales for the Week: 5 4
Average Sold Price: $1,666,000 $1,581,000
Average $/Sq Foot (Sold) $749 $790
Average Sold as Percentage Of List Price: 116% 113%
Average DOM of Closed Sales 85 9
No. of Homes Pending Sale: 15 14
No. of New Listings: 9 4
Total # of Active Listings: 16 13
Average Price of Active Listings: $1,671,804 $1,489,385
Average DOM of Active Listings: 13 13
Average $/Sq Foot (List) $788 $772
Active-Pending Ratio: 1.1 : 1 0.93: 1

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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: 4-5-15.

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The listing activity was fairly light last week in San Carlos, as was generally expected, since most homeowners don’t want to have their first open house on Easter Sunday when many home buyers are committed to family activities. Consequently, I expect to see the  number of new listings pick up quite a bit in the coming weeks, as we are now heading into a stretch of 6 straight weekends without any holiday interruptions until Memorial Day weekend (Mother’s Day being the sole exception during that period).

This is prime-time for the Spring real estate market in San Carlos, and I know that are sellers who were probably ready to put their home on the market last week, but opted to wait until after Easter Sunday, and the various school system’s Spring breaks. If you’re committed to finding a home in San Carlos before summer, this is the period of time that you’ll want to pay full attention to what’s happening.

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 4-5-2015:

San Carlos Housing Data 4-5-15 Prior Week
Closed Sales for the Week: 4 6
Average Sold Price: $1,581,000 $1,892,500
Average $/Sq Foot (Sold) $790 $755
Average Sold as Percentage Of List Price: 113% 109%
Average DOM of Closed Sales 9 9
No. of Homes Pending Sale: 14 16
No. of New Listings: 4 8
Total # of Active Listings: 13 13
Average Price of Active Listings: $1,489,385 $1,412,308
Average DOM of Active Listings: 13 15
Average $/Sq Foot (List) $772 $797
Active-Pending Ratio: 0.93 : 1 0.81: 1

>>> Click Here to Read the Full Post
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The San Carlos Real Estate Week in Review: 3-29-15.

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There were definitely some signs of hope for home buyers in San Carlos this past week.  Eight new listings made their debut, which was nearly triple the amount from the prior week.  And over half of them were below the $1.5M price threshold, which helps a bit with the affordability factor.   Of course, where these ultimately sell in anyone’s guess.

But we are now heading into the two key months of the Spring market, where buyers should see the largest number of new listings that they will see all year — April and May.  This week might prove to be a light start to April, since many agents want to avoid Easter weekend for their first open house.  But expect to see activity jump significantly next week as the Spring market hits full stride, and there’s an unbroken string of non-holiday weekend all the way up to Memorial Day Weekend.  These two months will clearly define what type of year we are going to have in the San Carlos real estate 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 3-29-2015:

San Carlos Housing Data 3-29-15 Prior Week
Closed Sales for the Week: 6 6
Average Sold Price: $1,892,500 $1,691,500
Average $/Sq Foot (Sold) $755 $868
Average Sold as Percentage Of List Price: 109% 123%
Average DOM of Closed Sales 9 9
No. of Homes Pending Sale: 16 16
No. of New Listings: 8 3
Total # of Active Listings: 13 8
Average Price of Active Listings: $1,412,308 $1,413,000
Average DOM of Active Listings: 15 17
Average $/Sq Foot (List) $797 $832
Active-Pending Ratio: 0.81 : 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.
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The San Carlos Real Estate Week in Review: 3-22-15.

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Home prices in San Carlos continue to be on an absolute tear.  This past week marked probably the highest amount above the asking price for closed sales of any week since I have been tracking stats on this blog — a whopping 23% on average above the list price. This was skewed upward somewhat by the sale at 2408 San Carlos Avenue, which fetched 45% above the list price.

But the rest of the homes in the sold list below all posted breathtaking premiums over their respective asking prices, the lowest being $151,000 and half of the list fetching $300,000 or higher.  That is some serious market muscle.  Unfortunately, there’s not much relief in sight — we will be starting the week off with only 8 homes for sale in the city and some of these present some unique challenges. Let’s hope for a strong surge of listings this week.

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 3-22-2015:

San Carlos Housing Data 3-22-15 Prior Week
Closed Sales for the Week: 6 4
Average Sold Price: $1,691,500 $1,601,559
Average $/Sq Foot (Sold) $868 $798
Average Sold as Percentage Of List Price: 123% 112%
Average DOM of Closed Sales 9 14
No. of Homes Pending Sale: 16 16
No. of New Listings: 3 6
Total # of Active Listings: 8 11
Average Price of Active Listings: $1,413,000 $1,362,632
Average DOM of Active Listings: 17 12
Average $/Sq Foot (List) $832 $847
Active-Pending Ratio: 0.69 : 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.
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The San Carlos Real Estate Week in Review: 3-15-15.

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The post that I published on the blog last week about the sudden drop in listings (and consequently inventory) in San Carlos was picked up and expounded on in this article the Daily Journal.  San Carlos is not alone in this respect — the number of new listings in most communities along the Peninsula are is either flat, or down from previous years, which is exactly why we are being shell-shocked with some of the prices that are being paid for homes in the past few weeks.

New listings are such a vital metric to the health and balance of the real estate market that I have started tracking them in the summary table below under San Carlos Housing Data.

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 3-15-2015:

San Carlos Housing Data 3-15-15 Prior Week
Closed Sales for the Week: 4 5
Average Sold Price: $1,601,559 $1,564,000
Average $/Sq Foot (Sold) $798 $881
Average Sold as Percentage Of List Price: 112% 104%
Average DOM of Closed Sales 14 11
No. of Homes Pending Sale: 16 18
No. of New Listings: 6 4
Total # of Active Listings: 11 7
Average Price of Active Listings: $1,362,632 $1,304,714
Average DOM of Active Listings: 12 13
Average $/Sq Foot (List) $847 $901
Active-Pending Ratio: 0.69 : 1 0.39: 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: 3-8-15.

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That surge of new listings that we were hoping for this past week in San Carlos did not materialize.  There were only 4 new homes to debut on the market, and those were overshadowed by the 6 homes that went into contract.  From what I have heard about some of the prices these homes fetched, it will make last weeks eye-popping prices look pretty tame by comparison.

The net result of this disparity is that there are now only 7 single family homes for sale in San Carlos as we kick off the new week, and a few of these won’t be taking offers until later in the month.  So unless there’s more inventory to hit the market this week, there is not going to be a lot happening this week in our local 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 3-8-2015:

San Carlos Housing Data 3-8-15 Prior Week
Closed Sales for the Week: 5 12
Average Sold Price: $1,564,000 $1,643,167
Average $/Sq Foot (Sold) $881 $865
Average Sold – Percentage Of List Price: 104% 114%
Average DOM of Closed Sales 11 10
No. of Homes Pending Sale: 18 17
No. of Active Listings: 7 10
Average Price of Active Listings: $1,304,714 $1,456,895
Average DOM of Active Listings: 13 10
Average $/Sq Foot (List) $901 $787
Active-Pending Ratio: 0.39 : 1 0.59: 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: 3-1-15.

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Last week was one of those weeks that makes San Carlos home buyers sit back and take a deep breath…or pour a strong drink.

Some of the home sales that closed last week were so far above the asking price, that it must feel like a punch in the gut for buyers trying to land a home in this market. Of the 12 homes that closed escrow, 6 of them fetched $200,000 or more over the asking price.  Two of them landed premiums of $300,000 or more.  That would be less discouraging if one could chalk this performance up to the fact that the homes might have been simply priced too far below their market value.  But with one notable exception below that was ridiculously under-priced, it’s hard to find fault where the other 11 were marketed. It’s simply a stark statement to the strength and resolve of the typical San Carlos home buyer in this market.

Until more inventory arrives, this is what the battlefield in San Carlos is going to look like.

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 3-1-2015:

San Carlos Housing Data 3-1-15 Prior Week
Closed Sales for the Week: 12 5
Average Sold Price: $1,643,167 $1,506,000
Average $/Sq Foot (Sold) $865 $891
Average Sold – Percentage Of List Price: 114% 110%
Average DOM of Closed Sales 10 11
No. of Homes Pending Sale: 17 24
No. of Active Listings: 10 10
Average Price of Active Listings: $1,456,895 $1,388,200
Average DOM of Active Listings: 10 10
Average $/Sq Foot (List) $787 $806
Active-Pending Ratio: 0.59 : 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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