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The San Carlos Real Estate Week in Review: 12-28-13.

calendar 2014

A New Year Ahead.

There wasn’t much real estate activity this past week in San Carlos, simply because there was literally nothing new to look at.  The inventory is stuck at a year-low of three homes for sale, and they are the same three that were for sale last week.   Any buyers who decided to take the week off from looking for homes certainly didn’t miss anything.   But don’t let this temporary lull fool you.  There’s quite a bit of activity happening behind the scenes, and you should see a good, solid start to the new year with some great new listings in San Carlos.

Until 2014, have a safe and happy New Year celebration!   And thank you for being loyal readers of the White Oaks Blog once again this year.   You’ve made this site the go-to source for straight talk and real data for buying and selling homes 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 12-28-2013:

San Carlos Housing Data 12-28-13 Prior Week
Closed Sales for the Week: 4 6
Average Sold Price $1,579,375 $1,450,000
Average $/Sq Foot (Sold) $715 $702
Sold Price vs Orig List (%) 103% 106%
Average DOM of Closed Sales 42 7
No. of Homes Pending Sale: 16 20
Inventory of Active Listings: 3 3
Average Price of Active Listings: $1,514,650 $1,514,650
Average DOM of Active Listings: 99 74
Average $/Sq Foot (List) $557 $629
Active-Pending Ratio: 0.19 : 1 0.15 : 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: 12-21-13.

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Cleaning House.

As we head into the final full week of the year, the inventory of homes for sale in just about every community on the Peninsula has been pretty well picked over.   San Carlos now only has  3 homes for sale in the entire city, and they have been on the market for a combined average of 93 days.   Belmont has only 4 home for sale as well, while San Mateo has 12, and Redwood City has 25.

These are all remarkably low numbers, even when you consider where we are in the calendar year.  I can’t recall a time when there were only 3 homes for sale in San Carlos – ever.   But it’s important for buyers to not let this void of listings allow you to lose focus on the task at hand.   As I’ve stated before, I believe the market will come charging out of the gate in early January, and faster than you can say “Happy New Year”, there will be quite a few more homes to choose from.   Those buyers that remain on task over the holidays should be rewarded when the new year starts.

Happy Holidays from the White Oaks Blog!    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 12-21-2013:

San Carlos Housing Data 12-21-13 Prior Week
Closed Sales for the Week: 6 11
Average Sold Price $1,450,000 $1,076,091
Average $/Sq Foot (Sold) $702 $743
Sold Price vs Orig List (%) 106% 106%
Average DOM of Closed Sales 7 22
No. of Homes Pending Sale: 20 21
Inventory of Active Listings: 3 6
Average Price of Active Listings: $1,514,650 $1,281,658
Average DOM of Active Listings: 74 49
Average $/Sq Foot (List) $629 $636
Active-Pending Ratio: 0.15 : 1 0.29 : 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: 12-14-13.

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A Strong December.

A big statement about the strength of this real estate market can be found by simply looking at the Pending Sales section of this weekly post.  The average time it took to sell the 5 homes that went pending last week was only 5 days.   As we discussed last week in the three-part series about the 2014 market, smart sellers have figured out this year that the best time to sell is when there’s the least amount of inventory — not by what the calendar may suggest.   And buyers are proving them right by snapping up whatever they can get when inventory is this lean.

As of this morning, there are only 8 single-family homes for sale in all of San Carlos.   That number will likely drop even further this week as a few of these listings are scheduled to take offers.

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 12-14-2013:

San Carlos Housing Data 12-14-13 Prior Week
Closed Sales for the Week: 11 5
Average Sold Price $1,076,091 $1,727,200
Average $/Sq Foot (Sold) $743 $559
Sold Price vs Orig List (%) 106% 106%
Average DOM of Closed Sales 22 18
No. of Homes Pending Sale: 21 27
Inventory of Active Listings: 6 9
Average Price of Active Listings: $1,381,658 $1,339,772
Average DOM of Active Listings: 49 28
Average $/Sq Foot (List) $636 $699
Active-Pending Ratio: 0.29 : 1 0.33 : 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: 12-7-13.

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Forsaking the Spring Market.

A very interesting statistic popped up while I was pulling data for this report —  there have already been more new listings to debut on the market in San Carlos this month (7) than there were in the entire month of December 2012 (5), and we’re barely one week into this month.   What is causing sellers to forsake the traditional spring market and list their home in what is normally one of the slowest months of the year?

There are two reasons that come to mind.  Either they want to take advantage of the complete absence of competition with the  single-digit inventory of homes for sale, OR perhaps they are concerned that the market may be starting to top out, and they don’t want to risk waiting until the spring to get the maximum value for their home.   Either way, this month is shaping up to have the strongest listing performance of any December in the past 5 years.

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 12-7-2013:

San Carlos Housing Data 12-7-13 Prior Week
Closed Sales for the Week: 5 5
Average Sold Price $1,727,200 $1,046,400
Average $/Sq Foot (Sold) $559 $654
Sold Price vs Orig List (%) 106% 107%
Average DOM of Closed Sales 18 19
No. of Homes Pending Sale: 27 28
Inventory of Active Listings: 9 6
Average Price of Active Listings: $1,339,772 $1,600,658
Average DOM of Active Listings: 28 61
Average $/Sq Foot (List) $699 $603
Active-Pending Ratio: 0.33 : 1 0.21 : 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: 11-30-13.

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Bring on December.

Despite the shortened holiday week, it was still a surprisingly busy one for those buyers who chose to stay in town and shop for homes.   5 homes went into contract in that short period of time, and two smart sellers actually bucked the normal trend and decided to list their home during the Thanksgiving week.     They are in very select company, because as of this morning there are only 6 single-family homes for sale in the entire City of Good Living — easily the lowest level of the entire year.

Will other sellers take note of the near-perfect selling conditions and list their homes in December, or will they take the more traditional path and wait until the Spring 2014 market?   This week should give us our answer.   Stay tuned…

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 11-30-2013:

San Carlos Housing Data 11-30-13 Prior Week
Closed Sales for the Week: 5 1
Average Sold Price $1,046,400 $1,748,375
Average $/Sq Foot (Sold) $654 $920
Sold Price vs Orig List (%) 107% 104%
Average DOM of Closed Sales 19 11
No. of Homes Pending Sale: 29 28
Inventory of Active Listings: 6 11
Average Price of Active Listings: $1,600,658 $1,634,909
Average DOM of Active Listings: 61 48
Average $/Sq Foot (List) $603 $577
Active-Pending Ratio: 0.21 : 1 0.39 : 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: 11-23-13.

Nov 28

A Week Off.

As we head into the short holiday week, home buyers in San Carlos won’t need to allocate too much time looking for homes over the extended weekend.  As of this morning, there are only 10 single-family homes for sale in the entire city, and that number will likely drop significantly in the coming days as several of the newer listings will be taking offers prior to Thanksgiving.   We will definitely be in the single-digits before too long.

Hopefully, more sellers will opt to take advantage of the market conditions and decide to list their homes in December — otherwise, it’s going to be a dry-spell to end this year for prospective home buyers.

Because of the short week and the lack of transactions to report, The San Carlos Real Estate Week in Review series will very likely take a one week hiatus.  The next edition will be on Monday, December 9th and will include the combined data for both weeks.   In the meantime, I hope everyone has a happy and safe Thanksgiving!

Here are the numbers for 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 11-23-2013:

San Carlos Housing Data 11-23-13 Prior Week
Closed Sales for the Week: 1 2
Average Sold Price $1,748,375 $1,200,000
Average $/Sq Foot (Sold) $920 $745
Sold Price vs Orig List (%) 104% 111%
Average DOM of Closed Sales 11 19
No. of Homes Pending Sale: 28 25
Inventory of Active Listings: 11 11
Average Price of Active Listings: $1,634,909 $1,703,545
Average DOM of Active Listings: 48 47
Average $/Sq Foot (List) $577 $594
Active-Pending Ratio: 0.39 : 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.
Don’t miss a single update!
_____________________________________________________________________________

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The San Carlos Real Estate Week in Review: 11-16-13.

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Heading into the Holidays.

We are now less than two weeks from Thanksgiving, and the inventory of homes for sale in San Carlos is dropping like the evening temperature.  In a real estate year that seems to shrug off the calendar, homes are still getting snapped up at a frantic pace even this late in the season.   As of this morning, there are only 11 homes for sale across the entire town.  That number actually dropped well below 10 this weekend , which briefly put us at the lowest level of the entire year.

Sellers are warming to the fact that (for the right house) they can put their home on the market this late in the year and still have a horde of buyers beating a path to their door.   This doesn’t mean it’s the right decision for every seller, and some will rightfully opt to wait until the Spring market of 2014 to list their homes.    But when you realize that there’s not a single home for sale in all of White Oaks or Oak Park right now,  you simply can’t ask for more favorable conditions to sell your home.

Here are the numbers for 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 11-16-2013:

San Carlos Housing Data 11-16-13 Prior Week
Closed Sales for the Week:
2 8
Average Sold Price
$1,200,000 $1,391,385
Average $/Sq Foot (Sold)
$745 $752
Sold Price vs Orig List (%) 111% 106%
Average DOM of Closed Sales 19 19
No. of Homes Pending Sale: 25 21
Inventory of Active Listings:
11 13
Average Price of Active Listings: $1,703,545 $1,606,923
Average DOM of Active Listings: 47 48
Average $/Sq Foot (List) $594 $636
Active-Pending Ratio:
0.44 : 1 0.62 : 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: 11-9-13.

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Entry-Level Insanity.

There doesn’t seem to be anything that can hold back the entry-level market in San Carlos right now.  To give you an idea of how much that particular segment of the market has grown this past year, the definition of an “entry-level” home San Carlos used to be one that was priced at $1M or less.  Now, it’s safe to say the upper boundary of the entry-level home in San Carlos is about $1.5M — which is about the going rate for the benchmark clean, updated 3BR home in the flats.

The sales numbers below illustrate this point very well.   For the 6 homes that were listed for under $1.5M, they all sold with multiple offers in about 10 days, and got an average of 115% of the asking price.   For the two homes that were listed above $1.5M,  they fetched 93% of their asking price, while taking nearly 41 days to sell.    That is an amazing contrast, and serves to illustrate just how competitive the lower end of the market still is in San Carlos.

Here are the numbers for 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 11-9-2013:

San Carlos Housing Data 11-9-13 Prior Week
Closed Sales for the Week:
8 4
Average Sold Price
$1,391,385 $1,462,000
Average $/Sq Foot (Sold)
$752 $720
Sold Price vs Orig List (%) 106% 104%
Average DOM of Closed Sales 19 39
No. of Homes Pending Sale: 21 22
Inventory of Active Listings:
13 17
Average Price of Active Listings: $1,606,923 $1,384,056
Average DOM of Active Listings: 48 37
Average $/Sq Foot (List) $636 $651
Active-Pending Ratio:
0.62 : 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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