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The San Carlos Real Estate Week in Review: 1-5-13.

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San Carlos Real Estate Summary.

2013 is officially here, and it appears to be off to an active start.   There are quite a few closed sales in the report below, but most of them came in under the wire in 2012 just after the last weekly report was published.  Those will all be tabulated in the 2012 Year in Review post that will be on the site by tomorrow.

If you want an indication of how competitive the San Carlos real estate market is going to be in 2012, you only needed to stop by the open house at 868 Cordilleras Avenue this past weekend.   Parking was non-existent, and the open house was packed with wall-to-wall people the entire weekend.   That’s the benefit of being the only new listing in a severely unbalanced market.  If you’re indecisive about putting your home on the market in January, that should be all the guidance you need.

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 1-5-2013:

San Carlos Housing Data 1-5-13 Prior Week
Closed Sales for the Week:
7 0
Average Sold Price
$1,485,841 $0 (+%)
Average $/Sq Foot (Sold)
$542 $0
Sold Price vs Orig List (%) 89% 0%
Average DOM of Closed Sales 46 NA
No. of Homes Pending Sale: 11 16
Inventory of Active Listings:
11 12 (-8.3%)
Average Price of Active Listings: $1,699,100 $1,863,329
Average DOM of Active Listings: 123 119
Average $/Sq Foot (List) $554 $549
Active-Pending Ratio:
1 : 1 0.75 : 1

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The San Carlos Real Estate Week in Review: 12-29-12.

2013

San Carlos Real Estate Summary.

The final report of the new year is a pretty light one, as you might expect.  There was actually more activity in the townhouse and condo market last week than there was in the single-family residence market.   Looking ahead to 2013, one thing is for sure: We will be starting off a new year with an unprecedented low inventory level.   2013 will start with only 12 single-family residences and 2 condo/townhouses to choose from in all of San Carlos.   That’s going to make a tough start for buyers in the new year, but those sellers who are wise enough to put their house on the market in the first two months of the new year should do very well.   The first two months of the year should be very interesting.

This is the final post of 2012 on the White Oaks Blog, and I’d like to take this opportunity to wish everyone a Happy New Year.  I sincerely appreciate the loyal and growing readership of this site, and I’m honored to be your go-to source for San Carlos real estate news.  I look forward to seeing everyone around town in the new year.

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 12-29-2012:

San Carlos Housing Data 12-29-12 Prior Week
Closed Sales for the Week:
0 3
Average Sold Price
$0 $1,381,667 (+%)
Average $/Sq Foot (Sold)
$0 $569
Sold Price vs Orig List (%) 0% 104%
Average DOM of Closed Sales NA 9
No. of Homes Pending Sale: 16 15
Inventory of Active Listings:
12 14 (-14%)
Average Price of Active Listings: $1,863,329 $1,750,211
Average DOM of Active Listings: 119 99
Average $/Sq Foot (List) $549 $539
Active-Pending Ratio:
0.75 : 1 0.93 : 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: 12-22-12.

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San Carlos Real Estate Summary.

As the year winds down to a close, so does the real estate activity in San Carlos.  There were only a few sales to mention for both single family residences and condos this week.  And with only 14 homes to choose from that have an average DOM of nearly 100 days, it’s not likely that much will go into contract this next week.

But looking ahead to the coming week, there should be a decent number of closings to report, since sellers will be extra motivated to complete their respective transactions before the new tax laws start in 2013.    And of course, there’s always the looming fiscal cliff resolution (or non-resolution.)

Happy Holidays to everyone from the White Oaks Blog!  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 12-22-2012:

San Carlos Housing Data 12-22-12 Prior Week
Closed Sales for the Week:
3 7
Average Sold Price
$1,381,667 $1,134,375 (+22%)
Average $/Sq Foot (Sold)
$569 $600
Sold Price vs Orig List (%) 104% 102%
Average DOM of Closed Sales 9 16
No. of Homes Pending Sale: 15 17
Inventory of Active Listings:
14 14 (0%)
Average Price of Active Listings: $1,750,211 $1,757,354
Average DOM of Active Listings: 99 93
Average $/Sq Foot (List) $539 $542
Active-Pending Ratio:
0.93 : 1 0.82 : 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: 12-15-12.

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San Carlos Real Estate Summary.

As predicted, the inventory of homes for sale continued to drop this week, and now sits at 14 homes for sale in all of San Carlos.  Of these 14 homes, 4 of them are spec homes or remodels that are in process, so the net effective inventory is really 10.   Ouch.  By comparison, there are only 11 homes for sale in Belmont, so it’s clearly an issue that spans outside of San Carlos.    Sellers who have their homes ready to sell are likely waiting until after the New Year to put their homes on the market.  Let’s just hope there are lots of them waiting to go.

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 12-15-2012:

San Carlos Housing Data 12-15-12 Prior Week
Closed Sales for the Week:
7 4
Average Sold Price
$1,134,375 $879,000 (+29%)
Average $/Sq Foot (Sold)
$600 $670
Sold Price vs Orig List (%) 102% 101%
Average DOM of Closed Sales 16 76
No. of Homes Pending Sale: 17 22
Inventory of Active Listings:
14 16 (-13%)
Average Price of Active Listings: $1,757,354 $1,778,875
Average DOM of Active Listings: 93 94
Average $/Sq Foot (List) $542 $568
Active-Pending Ratio:
0.82 : 1 0.73 : 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.
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The San Carlos Real Estate Week in Review: 12-8-12.

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San Carlos Real Estate Summary.

This week you could really feel the year starting to wind down.   Activity dwindled, and between the few homes that sold this week and the others that were taken off the market for the holidays, the inventory of homes for sale was pushed down to 16 — I can’t remember when I’ve seen it that low.  And it will likely drop below this mark as additional homes are pulled from the market for the holidays.  It’s evident now that most buyers are simply going to have sit on the sidelines until the Spring market to get a new influx of homes to choose from.

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 12-8-2012:

San Carlos Housing Data 12-8-12 Prior Week
Closed Sales for the Week:
4 13
Average Sold Price
$879,000 $1,148,538 (-23%)
Average $/Sq Foot (Sold)
$670 $597
Sold Price vs Orig List (%) 101% 95%
Average DOM of Closed Sales 76 30
No. of Homes Pending Sale: 22 22
Inventory of Active Listings:
16 22 (-27%)
Average Price of Active Listings: $1,778,875 $1,611,636
Average DOM of Active Listings: 94 68
Average $/Sq Foot (List) $568 $551
Active-Pending Ratio:
0.73 : 1 1 : 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.
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The San Carlos Real Estate Week in Review: 12-1-12.

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San Carlos Real Estate Summary.

The result of the fall market push was evident last week with 13 homes closing escrow.   This is a bit higher than normal for a typical week, but demonstrates the continued strength of the San Carlos real estate market as we head into the winter months.    Another nice surprise this past week was the introduction of 7 new listings — again, a bit of rarity for the last week of November.  But sellers are starting to understand that there’s really no bad week to list their home in this current market climate, whether it’s in the month of December, or just after the beginning of the new year.  Either way, buyers are still going to beat a path to the door.

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 12-1-2012:

San Carlos Housing Data 12-1-12 Prior Week
Closed Sales for the Week:
13 5
Average Sold Price
$1,148,538 $1,127,400 (+1.9%)
Average $/Sq Foot (Sold)
$597 $608
Sold Price vs Orig List (%) 95% 103%
Average DOM of Closed Sales 30 101
No. of Homes Pending Sale: 22 28
Inventory of Active Listings:
22 20 (+10%)
Average Price of Active Listings: $1,611,636 $1,698,875
Average DOM of Active Listings: 68 83
Average $/Sq Foot (List) $551 $565
Active-Pending Ratio:
1 : 1 0.71 : 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: 11-24-12.

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San Carlos Real Estate Summary.

The shortened holiday week kept the real estate activity in San Carlos relatively quiet.   Two homes went pending during the week, and a single new listing came on the market.    There are now only 20 homes for sale in the entire city, and that number will likely drop in the coming weeks as a few homes go pending, and a few others that haven’t sold are taken off the market for the holidays.  This will make it even more challenging for buyers to find their place in San Carlos before the end of the year.    It bears repeating that sellers who plan to sell in early 2013 should definitely consider putting their home on the market now while there is virtually no competition.

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 11-24-2012:

San Carlos Housing Data 11-24-12 Prior Week
Closed Sales for the Week:
5 6
Average Sold Price
$1,127,400 $1,312,500 (-14.1%)
Average $/Sq Foot (Sold)
$518 $608
Sold Price vs Orig List (%) 103% 105%
Average DOM of Closed Sales 101 22
No. of Homes Pending Sale: 28 29
Inventory of Active Listings:
20 23 (-13%)
Average Price of Active Listings: $1,698,875 $1,647,109
Average DOM of Active Listings: 83 69
Average $/Sq Foot (List) $565 $556
Active-Pending Ratio:
0.71 : 1 0.79 : 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: 11-17-12.

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San Carlos Real Estate Summary.

If there was ever any doubt about the strength of the San Carlos real estate market, one would only have to take a peek at the Single-Family Homes Sold section of this post to extinguish that doubt.  Three of the homes that closed escrow this week fetched between 14%-26% above their asking prices.  Some may argue that this is simply a case of the houses being severely under-priced,  and I think that argument can be made for one of those three.   But one can’t discount the fact that two of the three homes fetched 11 and 21 offers, respectively!  There are still quite a few buyers out there working hard to find a home in San Carlos, even this late in the year.

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 11-17-2012:

San Carlos Housing Data 11-17-12 Prior Week
Closed Sales for the Week:
6 5
Average Sold Price
$1,312,500 $1,139,000 (+15%)
Average $/Sq Foot (Sold)
$608 $600
Sold Price vs Orig List (%) 105% 103%
Average DOM of Closed Sales 22 18
No. of Homes Pending Sale: 29 34
Inventory of Active Listings:
23 23 (0%)
Average Price of Active Listings: $1,647,109 $1,648,469
Average DOM of Active Listings: 69 62
Average $/Sq Foot (List) $556 $581
Active-Pending Ratio:
0.79 : 1 0.68 : 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.
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