free hit counter

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

The San Carlos Real Estate Week in Review: 6-15-13.

calendar3

San Carlos Real Estate Summary.

The table was really set for it to be a “statement week” for the real estate market last week in San Carlos.  If you recall from the last report, we were slammed with a wave of new listings at the end of the prior week.  This pushed the inventory level in San Carlos above the 30 mark for the first time all year.   There were literally so many open houses to see, that it was a challenge to visit them all in the 3-hour time slot on a single day.  When was the last time that happened?

But the big question was, how would the market react to such an upside?  Would this finally signal a return to something resembling balance to the market?  Would it help give buyers a tiny bit more leverage?  Well, as you can see from the “Homes Pending Sale” section below, the market reacted just as it has all year — it devoured the inventory.   No sooner did we take a peek over the top of the 30 mark, then buyers drove it right back down to the 22 listings that we have today.  And yes, there were still multiple offers to go around the entire list.   So, while the sudden surge of inventory certainly gave buyers lots of much-needed options, it also demonstrated how strong the market remains in San Carlos.

There’s another interesting tidbit in this week’s report too.  For the first time in months, there’s actually more red ink in the “Homes Sold” section than there was green ink.  In other words, more homes sold for less than their list price than above.  Indeed, the homes that closed escrow fetched an average of 98% of their list price.   That’s the first time in months that it has been below 100%.    Is this the signal that the prices are starting to top out?   Perhaps, but it will take a few more weeks like this to convince me that it wasn’t just a coincidence.

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 6-15-2013:

San Carlos Housing Data 6-15-13 Prior Week
Closed Sales for the Week:
7 8
Average Sold Price
$1,483,429 $1,244,875
Average $/Sq Foot (Sold)
$613 $736
Sold Price vs Orig List (%) 98% 108%
Average DOM of Closed Sales 11 7
No. of Homes Pending Sale: 39 34
Inventory of Active Listings:
22 29
Average Price of Active Listings: $1,438,143 $1,362,240
Average DOM of Active Listings: 23 18
Average $/Sq Foot (List) $605 $610
Active-Pending Ratio:
0.56 : 1 0.85 : 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!
_____________________________________________________________________________

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

The San Carlos Real Estate Week in Review: 6-8-13.

calendar4

San Carlos Real Estate Summary.

By San Carlos standards, there was a virtual tidal wave of new single-family home listings this past week, much to the joy of buyers and their agents alike.  17 homes made their debut this week, in what was easily the biggest listing week so far in 2013. But true to San Carlos form, a couple of them did not even make it to the first open house weekend, which serves as a constant reminder to San Carlos home buyers that expediency and staying on task is still vitally important in this market.

It will be very interesting to see if this latest surge in listings will alleviate a little bit of the upward pressure on a market, or if they will be quickly absorbed by the huge imbalance of buyers that have been looking all year long.   If you are interested in keeping closer tabs than just this weekly summary, I also post the pending and sold homes every day on the White Oaks Blog Facebook page.   If you don’t already follow that page, you definitely should.

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 6-8-2013:

San Carlos Housing Data 6-8-13 Prior Week
Closed Sales for the Week:
8 6
Average Sold Price
$1,244,875 $1,311,000
Average $/Sq Foot (Sold)
$736 $707
Sold Price vs Orig List (%) 108% 114%
Average DOM of Closed Sales 7 9
No. of Homes Pending Sale: 34 34
Inventory of Active Listings:
29 17
Average Price of Active Listings: $1,362,240 $1,258,118
Average DOM of Active Listings: 18 19
Average $/Sq Foot (List) $610 $611
Active-Pending Ratio:
0.85 : 1 0.50 : 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!
_____________________________________________________________________________

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

The San Carlos Real Estate Week in Review: 6-1-13.

calendar

San Carlos Real Estate Summary.

Although it was a relatively small sample size at only 6 closed sales, it was still an eye-opener to see that the sales price for these 6 listings commanded a 14% premium on average over the asking price.  Four of the six fetched $200,000 or more over their asking price, or an upside of 17-20%.   Buying activity continues to be brisk, with 8 more homes going into contract over the past week.   And open houses reported crushing crowds over the weekend.

Even with a significant correction in the stock market at the end of the week, it doesn’t seem that anything can curb the enthusiasm and momentum of the real estate market in San Carlos right now.  It’s an amazing thing to see.

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 6-1-2013:

San Carlos Housing Data 6-1-13 Prior Week
Closed Sales for the Week:
6 12
Average Sold Price
$1,311,000 $1,300,875
Average $/Sq Foot (Sold)
$707 $671
Sold Price vs Orig List (%) 114% 107%
Average DOM of Closed Sales 9 12
No. of Homes Pending Sale: 34 32
Inventory of Active Listings:
17 19
Average Price of Active Listings: $1,258,118 $1,268,047
Average DOM of Active Listings: 19 28
Average $/Sq Foot (List) $611 $612
Active-Pending Ratio:
0.50 : 1 0.59 : 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!
_____________________________________________________________________________

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

The San Carlos Real Estate Week in Review: 5-25-13.

calendar3

San Carlos Real Estate Summary.

The results of that frenetic surge of sales that happened in mid-April are starting to show up as closed sales.  This week, 12 homes closed escrow in San Carlos, and it’s interesting to see that percentage above list price that buyers are paying is still hovering around the 7% mark on average.  It has been as high as 11% (average) during the peak of the spring market.   Obviously, some homes have sold for much higher than that — even this week two homes closed that fetched a 17% premium over their asking price.

Interest rates on most home mortgages inched upward slightly this week, which definitely caught the attention of buyers who are still out there looking for homes.  It was only a minor uptick of only 0.125 – 0.250, depending on the loan product, but certainly a trend in the wrong direction for buyers.  It will be very interesting to see if this is a pre-cursor of things to come, or simply a minor market correction.

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 5-11-2013:

San Carlos Housing Data 5-25-13 Prior Week
Closed Sales for the Week:
12 6
Average Sold Price
$1,300,875 $1,290,833
Average $/Sq Foot (Sold)
$671 $708
Sold Price vs Orig List (%) 107% 107%
Average DOM of Closed Sales 12 8
No. of Homes Pending Sale: 32 37
Inventory of Active Listings:
19 19
Average Price of Active Listings: $1,268,407 $1,261,091
Average DOM of Active Listings: 28 24
Average $/Sq Foot (List) $612 $625
Active-Pending Ratio:
0.59 : 1 0.51 : 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!
_____________________________________________________________________________

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

The San Carlos Real Estate Week in Review: 5-18-13.

calendar1

San Carlos Real Estate Summary.

If you want a good snapshot that captures the speed and strength of the San Carlos Real estate market, just look at the stats directly below for homes that sold (closed escrow) this past week.   The average price per square foot was over $700, the average number of days on the market was only 8, and the sales prices were roughly 7% above the asking price.     Those are some pretty hefty numbers in a market that just doesn’t seem to be losing any steam.

It also serves as a great reminder that you have to stay on task if you’re actively looking to purchase a home in this market, because things are still moving very quickly — even as more listings are coming onto the market.    If homes are selling within the first week of their debut, every single day matters when you’re putting together your buying strategy.   And that will get further complicated as we head into the early part of the vacation season for many people.

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 5-11-2013:

San Carlos Housing Data 5-18-13 Prior Week
Closed Sales for the Week:
6 7
Average Sold Price
$1,290,833 $1,324,000
Average $/Sq Foot (Sold)
$708 $691
Sold Price vs Orig List (%) 107% 105%
Average DOM of Closed Sales 8 13
No. of Homes Pending Sale: 37 35
Inventory of Active Listings:
19 16
Average Price of Active Listings: $1,261,091 $1,355,854
Average DOM of Active Listings: 24 10
Average $/Sq Foot (List) $625 $602
Active-Pending Ratio:
0.51 : 1 0.51 : 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!
_____________________________________________________________________________

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

The San Carlos Real Estate Week in Review: 5-11-13.

calendar1

San Carlos Real Estate Summary.

Rumor has it in some communities that their respective real estate markets are beginning to cool down (which, of course, is a a completely relative term).   I’ve heard some anecdotal comments from other agents that homes in these areas are getting fewer offers and not for as outlandishly above the list price as they were just a month or so ago.

I wish I could say the same about San Carlos, but that’s just not happening… at least not yet.  Yes, there’s the occasional home that I thought would have been picked off much sooner, but by and large things are still moving in a fast-forward manner here.  10 homes went into contract just last week, and all but one of them didn’t last on the market for a full two weeks.  Several of them never made it to their first open house.  And a few of them fetched sales prices that will still make you gasp — if that’s even still possible after all that has happened so far this year.

No, those are not signs of a market that is starting to settle down, folks.  There will be a couple very nice 3BR/2BA homes that will hit the market at the end of this week that will give us a very good idea of just temperature the market is sitting at.  Stay tuned for those…

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 5-11-2013:

San Carlos Housing Data 5-11-13 Prior Week
Closed Sales for the Week:
7 5
Average Sold Price
$1,324,357 $1,231,000
Average $/Sq Foot (Sold)
$691 $709
Sold Price vs Orig List (%) 105% 111%
Average DOM of Closed Sales 13 11
No. of Homes Pending Sale: 35 32
Inventory of Active Listings:
16 20
Average Price of Active Listings: $1,355,854 $1,364,469
Average DOM of Active Listings: 10 10
Average $/Sq Foot (List) $602 $583
Active-Pending Ratio:
0.51 : 1 0.63 : 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!
_____________________________________________________________________________

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

The San Carlos Real Estate Week in Review: 5-4-13.

calendar8

San Carlos Real Estate Summary.

Inventory was the talk of the real estate community this week, and finally in a positive tone.    Who would have thought that it would be good news when the inventory level hit 20?   But it did this week, and that’s a milestone that hasn’t been achieved in about 3 months in San Carlos.     There are actually more homes for sale now in San Carlos than there are in Belmont.   It’s a “fresh” inventory of homes that buyers have to look at too, since the average days on market for all listings in San Carlos is only 10 days.  So at least for this week, the table has turned slightly back in the direction of buyers.  It will be interesting to see how they respond this coming week.

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 5-4-2013:

San Carlos Housing Data 5-4-13 Prior Week
Closed Sales for the Week:
5 5
Average Sold Price
$1,231,000 $1,395,667
Average $/Sq Foot (Sold)
$709 $783
Sold Price vs Orig List (%) 111% 111%
Average DOM of Closed Sales 11 30
No. of Homes Pending Sale: 32 32
Inventory of Active Listings:
20 11
Average Price of Active Listings: $1,364,469 $1,381,985
Average DOM of Active Listings: 10 16
Average $/Sq Foot (List) $583 $579
Active-Pending Ratio:
0.63 : 1 0.34 : 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!
_____________________________________________________________________________

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

The San Carlos Real Estate Week in Review: 4-27-13.

calendar

San Carlos Real Estate Summary.

Buyers were certainly busy this past week in San Carlos.  10 homes went into contract over the past 7 days, leaving us once again with a paltry inventory level heading into the new week.  In fact, the ratio of active/pending is so absurdly low this week that it’s almost comical.  As I’ve stated before, in a normal market, you’d expect that ratio to be at least 2.0 – 3.0….i.e. 2-3 times as many homes for sale as the number that are pending sale.  This week it sits at 0.34!!    It almost defies logic to have that number sitting below 1 for as long as it has been.   But that’s the market we are in right now, and there doesn’t seem to be any indication that it’s changing any time soon.

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 4-27-2013:

San Carlos Housing Data 4-27-13 Prior Week
Closed Sales for the Week:
5 5
Average Sold Price
$1,395,667 $1,2266,255
Average $/Sq Foot (Sold)
$783 $719
Sold Price vs Orig List (%) 111% 111%
Average DOM of Closed Sales 30 13
No. of Homes Pending Sale: 32 25
Inventory of Active Listings:
11 15
Average Price of Active Listings: $1,381,985 $1,528,493
Average DOM of Active Listings: 16 13
Average $/Sq Foot (List) $579 $638
Active-Pending Ratio:
0.34 : 1 0.6 : 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!
_____________________________________________________________________________

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 link below to see a list of all the homes that I have helped my clients buy or sell!

Chuck's Sales Production

Subscribe to the Blog via Email

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 link 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

Testimonials

"But the best thing about Chuck is that he is a caring, considerate, and helpful – and just an all-around nice guy. I already told him that if the need arose, I’d use him again.”

Joanne E., San Carlos

San Carlos Weather

The White Oaks Blog on FaceBook.

Selling Your Home?


Related posts: