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

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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

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

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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

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

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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

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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: 1-21-12.

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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
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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: 1-14-12.

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San Carlos Real Estate Summary.

Activity picked up quite nicely for only the second week of January.  5 new listings helped inject a little bit of fresh air into the inventory of homes for sale.   But even with those new additions, there are still only 31 homes for sale in all of San Carlos.  Buyers will need to continue to be patient as the spring market approaches.

I tweaked the format of this report again and integrated both data tables into the single one that you see below.  Hopefully this cleans up the format a little bit, and improves the readability of the weekly report.

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 1-14-2012:

San Carlos Housing Data 1-14-12 Prior Week
Inventory of Active Listings:
31 28 (+10.7%)
Average Price of Active Listings: $947,718 $1,040,502 (-8.9%)
Average DOM of Active Listings: 122 129
Homes Pending Sale: 25 29 (-13.8%)
Active-Pending Ratio:
1.2 : 1 0.97 : 1
Closed Sales for the Week:
5 4
Average Sold Price
$1,114,200 $909,753
Sold Price vs Orig List (%) 91% 99%
Average DOM of Closed Sales 49 41

>>> 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: 1-7-12.

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San Carlos Real Estate Summary.

Welcome to 2012, and the first Week in Review report for the new year!   New listings are the fuel for a robust real estate market, and unfortunately there were no new listings to report this week.   This isn’t unusual for this time of the year, since most sellers aren’t ready to list their homes until around February.  But any new listings that come on market in January will enjoy the luxury of virtually no competition.    The average days on market (DOM) for all of the homes currently for sale in San Carlos is a whopping 129 days (that’s over 4 months!), so buyers already know what’s out there and they’re ready to pounce on something new.

Here’s a quick snapshot of the inventory of San Carlos single family homes as of 1-7-2012:

Inventory 1-7-12 Prior Week
Active Listings 28 28 (0%)
Average Price of Active Listings $1,040,502 $987,792 (+5.3%)
Average DOM of Active Listings 129 118
No. of Homes Pending Sale 29 36 (-19%)
Active:Pending Ratio
0.97 : 1 0.8 : 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: 12-31-11.

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San Carlos Real Estate Summary.

Well, here’s the final Week in Review report for 2011.   As you’ll see in the 2011 Year in Review post next week, 2011 was definitely a rebound year for the San Carlos real estate market, and the positive momentum will likely carry over into 2012.   Looking ahead into the new year, I will continue to make changes to the format of this report to keep it fresh and ensure that the data that’s included in this report is the most relevant to the readers.

On that note, thank you for your continued reading of the White Oaks Blog, and I hope 2012 is the best year ever for you.  Happy New Year!

Here’s a quick snapshot of the inventory of San Carlos single family homes as of 12-31-2011:

Inventory 12-31-11 Prior Week
Active Listings 30 28 (-7.1%)
Average Price of Active Listings $1,018,000 $987,792 (+3.1%)
Average DOM of Active Listings 116 118
No. of Homes Pending Sale 32 36
Active:Pending Ratio
0.9 : 1 0.8 : 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: 12-24-11.

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San Carlos Real Estate Summary.

Holiday shopping in San Carlos wasn’t limited just to things that go under the tree.  Home shoppers in were quite busy in the week leading up to Christmas, as is evidenced by the 8 homes that went under contract!   That’s certainly not the norm for this time of year, but it speaks volumes of the pent up demand for homes in San Carlos.   And that demand will remain constant until inventory levels boost up in the new year.  This latest surge in buying served to drop the available list of homes in San Carlos down to 28...which means there are far more homes pending sale (36) than for sale (28) — that doesn’t happen very often!

Here’s a quick snapshot of the inventory of San Carlos single family homes as of 12-24-2011:

Inventory 12-24-11 Prior Week
Active Listings 28 34 (-18%)
Average Price of Active Listings $987,792 $989,914 (-0.2%)
Average DOM of Active Listings 118 102
No. of Homes Pending Sale 36 29
Active:Pending Ratio
0.8 : 1 1.2 : 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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