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The San Carlos Real Estate Week in Review: 8-17-13.

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Building Inventory.

There’s a palpable sense that the Fall real estate market is right around the corner.   Most kids head back to school this coming week, and almost as if on cue, the listings are starting to appear.  Just since Thursday alone, eight new issues debuted on the market in San Carlos, and hopefully that trend will continue this coming week.  That last burst alone pushed the inventory back up to 25, after dropping below the perilous 20 mark yet again, and kept the active/pending ratio above the 1.0 mark — a place it has rarely been all year.

Some big news on the blog this week — if you happen to read the San Carlos Real Estate Week in Review series every week on your smart phone or tablet, then you already know that the format was “less-than-optimal” when you click on any of the address links in the report.  Well, that problem has now been solved.  Starting this week, the website that houses all of the listing data is now optimized for mobile devices, and automatically re-formats when it senses that you are viewing the post from a mobile device.   So give it a try — click on any of the addresses in the report below from your mobile device.  I think you’ll love the new look!

Here are the numbers 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 8-17-2013:

San Carlos Housing Data 8-17-13 Prior Week
Closed Sales for the Week:
5 10
Average Sold Price
$1,278,857 $1,370,300
Average $/Sq Foot (Sold)
$709 $657
Sold Price vs Orig List (%) 108% 100%
Average DOM of Closed Sales 12 14
No. of Homes Pending Sale: 21 20
Inventory of Active Listings:
25 24
Average Price of Active Listings: $1,543,754 $1,541,156
Average DOM of Active Listings: 35 37
Average $/Sq Foot (List) $651 $624
Active-Pending Ratio:
1.2 : 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: 8-10-13.

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San Carlos Real Estate Summary.

This past week, I posted an article about how home prices are booming in the Clearfield Park section of San Carlos, and how one home recently broke the $900,000 mark for the first time in this region.  Well, that record was short lived as 1008 Springfield Drive closed this week for $1,022,000 — easily setting a new record for the region.

New listings were slow this week, as one might expect for mid-August.  Things should start to pick up in the next few weeks as the beginning of the Fall market approaches.

Here are the numbers 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 8-10-2013:

San Carlos Housing Data 8-10-13 Prior Week
Closed Sales for the Week:
10 5
Average Sold Price
$1,370,300 $1,260,000
Average $/Sq Foot (Sold)
$657 $750
Sold Price vs Orig List (%) 100% 115%
Average DOM of Closed Sales 14 11
No. of Homes Pending Sale: 20 27
Inventory of Active Listings:
24 27
Average Price of Active Listings: $1,541,156 $1,560,585
Average DOM of Active Listings: 37 36
Average $/Sq Foot (List) $624 $617
Active-Pending Ratio:
1.2 : 1 1.0 : 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: 8-3-13.

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San Carlos Real Estate Summary.

It still amazes me how much over the asking price buyers are willing to go for the right home.  This week captures what has been essentially happening most of the year — buyers are obliterating the asking prices of homes in competitive bids.   This week, 1039 Hewitt Drive blew the lid off its list price by over $305,000 after getting over a dozen offers.  And not to be overlooked, the buyers of 1719 White Oak Way paid a healthy $225,000 premium to make sure they go this house.  Overall, the homes that closed escrow this week fetched an average of 115% of the asking price.   That’s pretty amazing.

This just serves as a stark reminder to home buyers to bring their A-game to the table if they’re going to make San Carlos their next address, because the market is still incredibly strong.

Here are the numbers 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 8-3-2013:

San Carlos Housing Data 8-3-13 Prior Week
Closed Sales for the Week:
5 10
Average Sold Price
$1,260,000 $1,445,800
Average $/Sq Foot (Sold)
$750 $700
Sold Price vs Orig List (%) 115% 118%
Average DOM of Closed Sales 11 13
No. of Homes Pending Sale: 27 25
Inventory of Active Listings:
27 31
Average Price of Active Listings: $1,560,585 $1,417,251
Average DOM of Active Listings: 36 27
Average $/Sq Foot (List) $617 $617
Active-Pending Ratio:
1.0 : 1 1.2 : 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: 7-27-13.

San Carlos Real Estate Summary.

Some very big numbers popped up in this week’s review.   The first is the number of active listings in San Carlos: 31.  This is the first time in many months that the number of homes has climbed above the 30 mark.   It may not stay there for very long, but it’s a welcome break for weary home buyers who have been battling over precious few listings.   This surge in new listings pushed the active/pending ratio above 1.0 for the first time in many months as well.

The third number that jumped out this week was the sold price/list price ratio of 118% , which was the highest recorded in the Week in Review so far this year.  This was driven primarily by the eye-popping 39% over the asking price that was paid for 275 Club Drive, and shows that there still is plenty of strength in this market.

Here are the numbers 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 7-27-2013:

San Carlos Housing Data 7-27-13 Prior Week
Closed Sales for the Week:
10 9
Average Sold Price
$1,445,800 $1,281,778
Average $/Sq Foot (Sold)
$700 $669
Sold Price vs Orig List (%) 118% 107%
Average DOM of Closed Sales 13 20
No. of Homes Pending Sale: 25 31
Inventory of Active Listings:
31 24
Average Price of Active Listings: $1,417,251 $1,439,283
Average DOM of Active Listings: 27 30
Average $/Sq Foot (List) $617 $617
Active-Pending Ratio:
1.2 : 1 0.77 : 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.
Don’t miss a single update!
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The San Carlos Real Estate Week in Review: 7-20-13.

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San Carlos Real Estate Summary.

The good news for home buyers this past week was that the inventory of homes for sale in San Carlos quietly crept past the 20 mark, as we now have 24 single-family homes for sale in the entire city.  Just achieving the 20 mark has been an unreachable plateau for most of 2013, but how long it stays above that mark is anyone’s guess.  Perhaps the combination of higher interest rates and the summer market have combined to put a bit of a damper on the market?   We’ll see in the coming weeks if this trend continues, or if we’re back to business as usual in San Carlos.

Here are the numbers 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 7-20-2013:

San Carlos Housing Data 7-20-13 Prior Week
Closed Sales for the Week:
9 9
Average Sold Price
$1,281,778 $1,216,667
Average $/Sq Foot (Sold)
$669 $729
Sold Price vs Orig List (%) 107% 110%
Average DOM of Closed Sales 20 10
No. of Homes Pending Sale: 31 34
Inventory of Active Listings:
24 18
Average Price of Active Listings: $1,449,283 $1,433,161
Average DOM of Active Listings: 30 35
Average $/Sq Foot (List) $617 $605
Active-Pending Ratio:
0.77 : 1 0.53 : 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: 7-13-13.

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San Carlos Real Estate Summary.

The San Carlos real estate market just keeps trucking through these normally quiet summer months.   With the 4th of July week behind us, buyers were back in big numbers as they picked off 6 of the active listings.  This kept the inventory level below 20 homes for sale, where it has been for most of this year.  Interest rates continue to be the primary topic with buyers, sellers, and agents — but for now it doesn’t seem to have a tremendous damper on the market.  Open houses in Belmont and San Carlos seemed to be very well attended yesterday, which is a testament as to how many buyers are still out looking for that perfect home.

Here are the numbers 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 7-13-2013:

San Carlos Housing Data 7-13-13 Prior Week
Closed Sales for the Week:
9 4
Average Sold Price
$1,216,667 $1,305,000
Average $/Sq Foot (Sold)
$729 $772
Sold Price vs Orig List (%) 110% 109%
Average DOM of Closed Sales 10 7
No. of Homes Pending Sale: 34 38
Inventory of Active Listings:
18 16
Average Price of Active Listings: $1,433,161 $1,449,087
Average DOM of Active Listings: 35 36
Average $/Sq Foot (List) $605 $599
Active-Pending Ratio:
0.53 : 1 0.42 : 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: 7-6-13.

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San Carlos Real Estate Summary.

As expected, it was a quiet week in the world of San Carlos real estate, at least when you compare it to the frenzy we’ve witnessed in the recent weeks.  The shortened week meant fewer listings and closed sales, but it did not keep those buyers who stayed in town from rolling up their sleeves and competing for some of the recent listings.  Six different homes went pending during the week, with several of them garnering multiple offers — and once again, they also fetched some eye-popping prices (which you’ll see on this site as soon as they close.)

Now that one of the bigger summer vacation weeks is over, look for things to return to their normally hectic pace.   Inventory has once again dropped to the mid-teens, so there’s not much for buyers to choose from until more listings become available.  This imbalance should keep the market on its toes throughout the entire summer.

Here are the numbers 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 7-6-2013:

San Carlos Housing Data 7-6-13 Prior Week
Closed Sales for the Week:
4 5
Average Sold Price
$1,305,000 $1,216,600
Average $/Sq Foot (Sold)
$772 $701
Sold Price vs Orig List (%) 109% 115%
Average DOM of Closed Sales 7 16
No. of Homes Pending Sale: 38 36
Inventory of Active Listings:
16 20
Average Price of Active Listings: $1,449,087 $1,442,892
Average DOM of Active Listings: 36 27
Average $/Sq Foot (List) $599 $618
Active-Pending Ratio:
0.42 : 1 0.55 : 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.
Don’t miss a single update!
_____________________________________________________________________________

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The San Carlos Real Estate Week in Review: 6-29-13.

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San Carlos Real Estate Summary.

The upcoming week should be relatively quiet, with the 4th of July falling on a Thursday this year.  Many will take advantage of this to stretch the 4-day weekend into a full week and head out of town.  But even that will probably not have an adverse affect on the unstoppable real estate machine here in San Carlos.  Several homes will be taking offers later this week, and those buyers that choose to remain in town will still have a number of new listings to see.  It will be business as usual for many!

Wherever this week takes you, have a happy and safe 4th of July holiday!

Here are the numbers 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 6-29-2013:

San Carlos Housing Data 6-29-13 Prior Week
Closed Sales for the Week:
5 12
Average Sold Price
$1,216,600 $1,218,445
Average $/Sq Foot (Sold)
$701 $675
Sold Price vs Orig List (%) 115% 114%
Average DOM of Closed Sales 16 13
No. of Homes Pending Sale: 36 33
Inventory of Active Listings:
20 18
Average Price of Active Listings: $1,442,892 $1,503,667
Average DOM of Active Listings: 27 29
Average $/Sq Foot (List) $618 $602
Active-Pending Ratio:
0.55 : 1 0.55 : 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.
Don’t miss a single update!
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