free hit counter

Home » “The Week in Review” » Recent Articles:

The San Carlos Real Estate Week in Review: 3-10-12.

calendar5

San Carlos Real Estate Summary.

The San Carlos real estate market got a much needed shot in the arm this week — a total of 12 new listings launched at various times this week, making for a very busy open house weekend for buyers and agents alike.  This total easily made it the biggest single listing week so far this year, and helped push the available inventory of homes upward by over 40% from last week.  Hopefully the momentum will continue this week, as we’re still below our seasonal average.  And there’s certainly no shortage of buyers ready to snap up this new inventory.

Here are the numbers for this past 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 3-10-2012:

San Carlos Housing Data 3-10-12 Prior Week
Closed Sales for the Week:
7 9
Average Sold Price
$851,286 $998,111 (-14.7%)
Average $/Sq Foot
$518 $555
Sold Price vs Orig List (%) 97% 102%
Average DOM of Closed Sales 66 28
Inventory of Active Listings:
36 25 (44%)
Average Price of Active Listings: $1,268,656 $1,127,082 (+12.6%)
Average DOM of Active Listings: 49 77
No. of Homes Pending Sale: 34 38
Active-Pending Ratio:
1.1 : 1 0.6 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

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!
_____________________________________________________________________________

GD Star Rating
loading...
GD Star Rating
loading...

The San Carlos Real Estate Week in Review: 3-3-12.

calendar6

San Carlos Real Estate Summary.

As you might expect to see in a strengthening market with tight inventory, prices are starting to inch upward in San Carlos.  A significant percentage of the homes that are selling right in San Carlos now are fetching multiple offers, which almost always drives the prices above initial asking price.  This week was no different, as the average sold price was 102% of the list price.  On top of that, the of the 5 homes that went pending during the week, 4 of them were on the market for 2 weeks or less — usually an indication that there was strong demand for those homes.

This doesn’t mean that everything is selling above list like it did back in the peak of 2007, but be prepared for the possibility that if there’s a place that catches your eye, it has probably caught a few others too.   Here are the numbers for the 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 3-3-2012:

San Carlos Housing Data 3-3-12 Prior Week
Closed Sales for the Week:
9 4
Average Sold Price
$998,111 $793,750 (+26%)
Average $/Sq Foot
$555 $590
Sold Price vs Orig List (%) 102% 97%
Average DOM of Closed Sales 28 13
Inventory of Active Listings:
25 25 (0%)
Average Price of Active Listings: $1,127,082 $986,159 (+14.2%)
Average DOM of Active Listings: 77 77
No. of Homes Pending Sale: 38 40
Active-Pending Ratio:
0.6 : 1 0.6 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

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!
_____________________________________________________________________________

GD Star Rating
loading...
GD Star Rating
loading...

The San Carlos Real Estate Week in Review: 2-25-12.

calendar7

San Carlos Real Estate Summary.

If you need any further proof that the demand is red-hot for homes in San Carlos, this past week should have resolved any doubt.  The $2.8M home at 1955 Carmelita Drive sold in just 5 days, reportedly with multiple offers.   And the first open house on Saturday for the beautiful craftsman at 1837 Howard Avenue was absolutely packed.   Buyers are definitely out there in big numbers, and with 8 homes being snapped up this past week, it has been impossible to build up any significant inventory of homes.  As of this post, there are still only 25 homes to choose from in the entire city.

Even the active/pending ratio — which normally sits at about 1.7-2.0 — hit a low of 0.6 this week.  That’s the lowest number that I can recall posting in the 4+ years of this blog’s existence.

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 2-25-2012:

San Carlos Housing Data 2-25-12 Prior Week
Closed Sales for the Week:
4 3
Average Sold Price
$793,750 $825,000 (-3.8%)
Average $/Sq Foot
$590 $437
Sold Price vs Orig List (%) 97% 89%
Average DOM of Closed Sales 13 113
Inventory of Active Listings:
25 27 (-7.4%)
Average Price of Active Listings: $986,159 $977,222 (+0.9%)
Average DOM of Active Listings: 77 79
No. of Homes Pending Sale: 40 36
Active-Pending Ratio:
0.6 : 1 0.8 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

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!
_____________________________________________________________________________

GD Star Rating
loading...
GD Star Rating
loading...

The San Carlos Real Estate Week in Review: 2-18-12.

calendar6

San Carlos Real Estate Summary.

The Spring real estate market jumped to life this past week in San Carlos.    Buyers snapped up 10 homes during the week, and there were 6 new listings to complement several homes that were making a repeat visit to the active list.    This balance of pending sales and active listings kept the inventory almost unchanged, which is still unusually low for this time of year.

The good news is that new listings are starting to spring up (no pun intended), which should give frustrated buyers a bit more choice to find the right place.

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 2-18-2012:

San Carlos Housing Data 2-18-12 Prior Week
Closed Sales for the Week:
3 5
Average Sold Price
$825,000 $848,100 (-2.7%)
Average $/Sq Foot
$437 $487
Sold Price vs Orig List (%) 89% 91%
Average DOM of Closed Sales 113 73
Inventory of Active Listings:
27 26 (+3.8%)
Average Price of Active Listings: $977,222 $1,031,255 (-5.2%)
Average DOM of Active Listings: 79 95
No. of Homes Pending Sale: 36 32
Active-Pending Ratio:
0.8 : 1 0.8 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

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!
_____________________________________________________________________________

GD Star Rating
loading...
GD Star Rating
loading...

The San Carlos Real Estate Week in Review: 2-11-12.

calendar3

San Carlos Real Estate Summary.

The active-to-pending ratio is one of several metrics that I use to measure the relative strength of a real estate market.  Simply put, it’s just number of active listings divided by the number of pending sales.   In a slow market, one could expect to see that number between 4-5, which shows that there’s a glut of inventory.   In a healthy market like we saw in 2011, that number hovered around 2 — this indicates that homes are selling quickly, but there’s a steady supply of new listings to feed the pipeline.

For the past several weeks in San Carlos, the active-pending ratio has been in the tank, as you can see in the table below. It’s not that often that this ratio falls below 1 — meaning that there more homes pending sale than for sale — but that’s exactly the situation we’ve been in since about the beginning of the year.  (To be fair, it’s important to note that a full 1/3 of these pending sales are actually short sales, which generally take  longer than normal sales to close.  This pulls the ratio a bit lower.)

But when you combine an abnormally low ratio with an inventory hovering in the mid-20′s, it’s clear that the growth of the market is being starved.   Here are the numbers for this 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 2-11-2012:

San Carlos Housing Data 2-11-12 Prior Week
Closed Sales for the Week:
5 4
Average Sold Price
$848,100 $728,875 (+16.3%)
Average $/Sq Foot
$487 $482
Sold Price vs Orig List (%) 91% 96%
Average DOM of Closed Sales 73 42
Inventory of Active Listings:
26 24 (+8.3%)
Average Price of Active Listings: $1,031,255 $1,006,203 (+2.5%)
Average DOM of Active Listings: 95 117
No. of Homes Pending Sale: 32 33
Active-Pending Ratio:
0.8 : 1 0.7 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

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!
_____________________________________________________________________________

GD Star Rating
loading...
GD Star Rating
loading...

The San Carlos Real Estate Week in Review: 2-4-12.

calendar

San Carlos Real Estate Summary.

The inventory of single-family residences for sale in San Carlos dropped to its lowest level in a long time when we finished last week with only 24 homes on the market.   Having a lean inventory is not that uncommon for early in the year, but even this level is about 20% lower than average for this time of year.     This is certainly a source of frustration for many buyers who are patiently waiting for more homes to choose from.

Buying activity has been one consistent factor that is keeping inventory levels low.  This past week 7 homes went under contract, which means nearly a quarter of the inventory from the prior week (30) was consumed in just one week!  Obviously, there’s still some pent-up demand for homes in San Carlos.

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 2-4-2012:

San Carlos Housing Data 2-4-12 Prior Week
Closed Sales for the Week:
4 0
Average Sold Price
$728,875 $0
Average $/Sq Foot
$482 0
Sold Price vs Orig List (%) 96% 0%
Average DOM of Closed Sales 42 0
Inventory of Active Listings:
24 30 (-20%)
Average Price of Active Listings: $1,006,203 $965,962 (+4.2%)
Average DOM of Active Listings: 117 113
No. of Homes Pending Sale: 33 33
Active-Pending Ratio:
0.7 : 1 1.0 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

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!
_____________________________________________________________________________

GD Star Rating
loading...
GD Star Rating
loading...

The San Carlos Real Estate Week in Review: 1-28-12.

calendar8

San Carlos Real Estate Summary.

It’s kind of rare to have a week where not a single home closes escrow in the entire city.  But if that’s going to happen, it will usually be in January, late summer, or sometime in December.  And it looks like this was just that kind of week, because nothing closed!  Buyers stayed active however, taking 4 of the available homes off the market.   And the 5 new listings that made their debut this week pushed the inventory back up to 30 homes — which is still only about 50% (or less) of what you would expect to see at the peak of a normal spring market.

On the note of inventory, I’ll have a specific post later this week about the inventory outlook for San Carlos in 2012. In the meantime, here are the numbers for this past 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 1-28-2012:

San Carlos Housing Data 1-28-12 Prior Week
Inventory of Active Listings:
30 29 (+3.4%)
Average Price of Active Listings: $965,962 $951,909 (+1.5%)
Average DOM of Active Listings: 113 122
Homes Pending Sale: 29 27 (+7%)
Active-Pending Ratio:
1.0 : 1 1.1 : 1
Closed Sales for the Week:
0 4
Average Sold Price
$0 $861,750
Sold Price vs Orig List (%) 0% 102%
Average DOM of Closed Sales 0 28

>>> Click Here to Read the Full Post
_____________________________________________________________________________

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!
_____________________________________________________________________________

GD Star Rating
loading...
GD Star Rating
loading...

The San Carlos Real Estate Week in Review: 1-21-12.

calendar5

San Carlos Real Estate Summary.

Buyers continued to wait patiently this past week for more homes to hit the market.  But with only three new listings to consider, and six homes getting into contract, the inventory of single-family homes for sale in San Carlos once again dropped below the 30 mark.  This inventory level is very typical for January, but such a strong pent-up demand this early in the year is anything but typical.   This bodes well for a healthy spring market… when it eventually gets here.

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 1-21-2012:

San Carlos Housing Data 1-21-12 Prior Week
Inventory of Active Listings:
29 31 (-6.5%)
Average Price of Active Listings: $951,909 $947,718 (+0.4%)
Average DOM of Active Listings: 122 122
Homes Pending Sale: 27 25 (+8%)
Active-Pending Ratio:
1.1 : 1 1.2 : 1
Closed Sales for the Week:
4 5
Average Sold Price
$861,750 $909,753
Sold Price vs Orig List (%) 102% 91%
Average DOM of Closed Sales 28 49

>>> Click Here to Read the Full Post
_____________________________________________________________________________

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!
_____________________________________________________________________________

GD Star Rating
loading...
GD Star Rating
loading...

Chuck’s Recent Sales

Put my experience to work for you!

I've helped over 50 families make their next move in the City of San Carlos, and many more in the surrounding communities. Click the sign below to see a list of all the homes that I have helped my clients buy or sell!

Chuck's Sales Production

Enter your email address to subscribe to the White Oaks Blog, and receive notifications of new posts by email. No spam....ever. Promise.

San Carlos Home Search


Click the picture below to see ALL of the homes that are currently for sale in San Carlos!

San Carlos Home Search

Open House: San Carlos


Click the Open House sign below to see ALL of the homes, townhomes, and condos that will be open in San Carlos this weekend!

San Carlos Open House

The White Oaks Blog is created by:


Chuck Gillooley
Chuck Gillooley
Realtor, San Carlos Resident

(650) 207-2024
BRE# 01750684
Email: Chuck Gillooley
Website: http://cghomes.net
Facebook: http://facebook.com/WhiteOaksBlog



Chuck Gillooley

Chuck Gilloo…


Top Agent Network


Chuck Gillooley - Real Estate Agent
Top Blogs
Powered By Blogmetrics.org

Testimonials

"My wife and I loved working with Chuck Gilooley. As first time home buyers he was very patient with us, talked us through the whole process and provided us a great education on home buying."

Rob M., San Mateo

San Carlos Weather

On This Day…



Related posts: